My brother in law has agreed to have his sister [my wife] be an Authorized user on 2 of his credit cards... One is for 7,000 the other 8,000 he has excellent credit, no lates with both card...I made him call the Credit companies and we got one card lowered from 15.1% to 10% GREAT RIGHT? Well I am afraid that since my wife doesnt work and I make approx 60-70k a year that this included with a 10K student loan and a 10k [been paying for 2 years, have good credit} car loan...may not look good on her our our credit for debt to income ratio. What do you guys think....She has a BK that is 7 years old this year and we are both trying to clean up our bad credit accounts Will this AU hurt or help...would it be better to have both cards or just one.
Good history is a positive. If the accounts are over extended and the CL is almost at max I would say that it's not a good idea. However if the balances on the cards are low then it shouldn't hurt, usually it helps. since your on the right track I would say that you should take a careful look at the balances and if they are low and the cards get low utilization or are paid in full or close to full every month then you'll be in good shape. I'm sure someone else can offer you more.
thanks...the balances are paid off. And the CR's said that he has excellent credit with them. We are trying to qualify for a mortgage and I dont want it to look like we are over extending our credit.
My aunt and uncle were happily married (ha ha), and he became AU on her card from Discover. They divorced and she couldn't pay her bills, and guess who came after her husband? (hint: Discover). By the way, we are in Louisina, (community property), and in our state they can garnish the wages of the spouse for the bills of the other spouse. I don't mean to drag you down, but that story makes me angry.
