My credit reports are empty of trade lines. The only exception is an outdated negative entry I am trying to have deleted from Equifax. To improve my FICO scores, a friend of mine with great credit will let me appear on some of their accounts as an authorized user. I figured I would do that to receive credit cards in my name then have my friend remove me as AU. My questions are these: 1. How does my friend notify the creditor to add me as AU and how long does it take to appear on my credit reports? 2. Will my FICO scores be updated immediately? 3. If for any reason my friend falls behind on their payments, does that also get posted to my credit report and affect the FICO score? 4. Will their outstanding balances prevent me from receiving loans or large credit lines on cards I apply for? Thanks.
1. call with your name and SSN. it should show the next time they update with the bureaus 2. once they show up you will see the fico adjustment immediately. 3. yes 4. possibly but if that should happen you can call and explain you are just an AU and not responsible for the debt and they should let you by.
author user is great way to build history... only that u should be very sure that ur friend actually has great credit. If him in the future requests to remove us as aut user his accounts will still appears in ur own report . To remove them u should dispute it directly with the credit bureaus as "not mine".
