My cousin is considering putting me on his discover card as an AU. just wondering how he can go about doing this and how will this account be viewed on my report
I think he only has to give them a call. If they report it to the CR's it will usually show as authorized user. You get the benefit of his history, with not contractural responsibility for payment. Now, on the flip side, if he starts showing lates, etc. thats on your report as well. DH was an AU on my JC Penneys card. When it went to c/o he disputed as not mine, and it was deleted from all 3.
jlynn is correct, it could back fire on you if he runs up the card (affecting your ratios) or defaults because this will then appear on your reports also. But, the good news it is very easy to fix that problem if it happens. If at any time you want to remove the history from your reports, you can have yourself removed as an AU and then dispute the account as "I am not an AU on this account". This would technically be correct, and the CRA will delete. I've never had any problems in the past using AU status to my advantage.
