Hi, I'm trying to raise my 597 CS by becoming an authorized user on my fiance's accounts and my parent's accounts. My question: On average, how much of a difference does one authorized user account make? Does it raise a red flag when someone has five or six of these accounts? What if one is an authorized user on more than one person's account? Basically, even though they allow it (I found a list here on this board of the companies that allow it) will I be penalized for having too many of these accounts linked to mine? I'm selecting accounts from my fiance and parents that are long-standing accounts with little to no balance on them if that makes a difference. My goal is to get my 597 up to 650 or higher by mid-summer. Thanks, J
It would be difficult to determined an exact number being the no one on here contributes to the fico scoring pool. With that said, any positive trade line with a positive account history, low utilization and adequate age will help your credit profile. Mid summer is 7-8 months away. If you maintain your accounts current and with the addition of other positive current accounts, then a 53 point boost is very likely. 08/17 my equifax fico was 532 10/12 my equifax fico is 616 I was added as an authorized user to a 1yr old revolving account. Got rid of a charge off. Added 2 new accounts (crown jewelers/macys). Waiting for 1 more new (revolving) account to factor into the mix. Now. 4 positives. 2 collections remaining. 1 (fake) installment (asset acceptance) remaining. I gain points each month. It is quite foreseeable to reach your goal.
