Greetings, I have several questions concerning the use of adding one as an authorized user as part of the rebuilding process. I would like to add my wife as an AU to some of my cards, not so that she could use them (I'd file them away as it's easier to keep track of with just one person using an account) but so the good history would appear on her account. 1.) I understand that they are not liable for the debt, therefore do they pull a credit report on the AU and may they deny? 2.) Does the AU user have to reside at the same address? On some application forms I see only a request for the AU's name. I'm curious as to how people can be added as an AU by friends/relatives if they don't live at the same address... how would the CB then know how to report the account to the AU's file since they have a different address and haven't provided a SSN. 3.) What it typically involved in adding someone as an AU? I realize it is simple when applying for a new account, but for an existing account is it more of a hassle since your are dealing with a live person via phone (who can play 20 questions) rather than filling out a form? 4.) When they report the AU, is the account history always retroactively reported or do some issuers report starting from the date they were added? Thanks in Advance, pg
RE: Q.'s Regarding Authorized In most cases: (1) No, they SHOULD NOT pull a report. No sense in checking credit when the person being added is NOT liable for the account -- you are. Some might do it because it's 'policy', but it's (a) not necessarily legal and (b) not necessary. You'd have to read your agreement regarding item (a). (2) No, the AU should not have to reside at the same address. Company policy, however, might require it, but that would be a creditor decision, not an across-the-board rule or requirement. Typically, they can find a spouse (your report has her name, and vice versa), but Joe Blow from Kokomo, Indiana would be a tough one to match up without a SS#. Remember, they don't HAVE to add it to an AU's credit history. (3) For the most part, just call them and tell them you want to add an AU. Some might just ask you for the info (for a new card), and some might actually mail you a form to fill out and send back. (4) Can't answer this one. On 1-3, it's pretty much going to be a creditor decision. Some might REQUIRE a report, while others don't give a hoot.
RE: Q.'s Regarding Authorized In my experience, adding someone as an authorized user without actually using the card account # with the AU's name on it, won't show up on the person's report. Due to reporting inaccuracy, your account number will more than likely show up on her credit report, but if the company is accurate your account will not show. So, to ensure that a credit history is being reported for her, you may want to consider using her card (i.e for online purchases) - even if you alternate it with your card every once in a while. Marci
RE: Q.'s Regarding Authorized 4.) When they report the AU, is the account history always retroactively reported or do some issuers report starting from the date they were added? A : It will appear on AU Report start from the date you add AU.
RE: Q.'s Regarding Authorized I've been a AU on my husbands Cap 1 Acct. I was added about a year after he got the card. My report shows the actual date the acct was opened, and is updated monthly just like his. Now, I am AU on his new gold cards, it is being reported the same way. The only difference is, I am AU. Last week I added my son as AU to my Cap 1 acct. They asked for his name, SS#, current address, phone #, current empoyer, and work phone. I assume they will report on his the same way. Received the additional card today in the mail with his and my name on it. I do believe this helped me get the cards I have now, as I had no open credit since 1996. This was my only recent credit history.
RE: Q.'s Regarding Authorized I have my wife as an AU on all my accounts, so I might be able to answer your questions. 1. No, they shouldn't pull a report, and definitely they won't deny it. In fact I think they love AUs, it increases the activity on the card. However if they do pull a report (hard inquiry) you can successfully dispute it. 2. No, the AU doesn't have to reside at the same address. You have to realize that this is your account with just another name on it. So the card will arrive at your address and then you can give it to the AU. 3. For some cards it's simply a matter of going to their online services and clicking on the "Add Authorized User" link and then filling out the name as you want to appear on the card. For other cards, you need to call their CS department and ask for it. They won't ask you any questions, but if they do, tell them they don't need to know more than the name on the card. However, if you want it reported on your wife's name, maybe you should give them her SSN. Some online services have this as an optional field when you request an AU. 4. I don't know ) We're expecting my wife's credit reports, when they come in, I'll let you know
