Authorized Users FAQ
YES, we guarantee all of our authorized user accounts to report to your profile for the time frame specified in your order. In the event there is any issue of non reporting we would replace the authorized user account.
When you have a credit card you are allowed to add an authorized user. This is typically a person who would have access to the line of credit and be authorized to use it.
All of the positive credit from the primary card member will flow to the new authorized user. The authorized user will not receive a credit card :), however the new card will appear on the authorized users credit report along with all of the positive payment history.
It varies based on the service program you are participating in. It also varies based on the age of the account, overall credit limit and current credit utilization by the primary card holder.
AU accounts can be as inexpensive as $500 per account. Please speak with your adviser for a better understanding of what type of AU account you need and what the cost may be.
All of our Authorized User accounts will stay active for a minimum of thirty days from the date it first reports. As a result, we guarantee the history of the card you have chosen will remain on your credit report for at least 30 days from the day of reporting.
AU accounts typically start reporting within fourteen days. This can vary from account to account.
Once the authorized user is removed the credit card companies tend to leave the account history on your credit report anywhere from 6 months to several years; more than enough time for you to go out and get approved for the loan you need.
However we can only guarantee thirty days of reporting, so best to take advantage of the credit boost soon after the AU account starts to report.
The boost is different for everyone. It all depends on what is currently in your credit report and the type of AU you select. The easiest way to answer this question is to say that there are three “Truths” to boosting your credit score through this method.
- The more credit cards we add to your credit report, the bigger the boost will be.
- The fewer the number of credit cards that you currently have in your credit report showing as open, the bigger the boost will be.
- The higher the limit, and the longer the history for the card(s) you choose to add to your credit report, the bigger the boost will be.
Please speak with an adviser to garner a better understanding of what you should expect based on your personal circumstances.
Being added to a credit card account as an Authorized User can help improve your Credit Scores since you adopt the credit history from that creditor. Within 10-60 days of being added to a credit tradeline as an Authorized User, you will see the account report on your credit and your credit scores will adjust accordingly. If you have a lot of debt collection accounts, or medical debt collections, past late payments or negative credit, you will not receive as much of a credit score improvement and you’ll want to seek professional help to try to remove these accounts from your credit history. You can call us to and we’ll review your case.
Picking The Right Authorized User Tradeline
You want to make sure that you follow these simple rules below before you add a tradeline to your account. If you follow these rules, the Authorized User Tradeline will help improve your credit scores. If you don’t want to have an Authorized User Tradeline, you can start building your credit with a secured credit card.
Account Should Be Open For A Minimum Of 2 Years
You only want to be added to an account if it is over 2 years old. Anything younger won’t give you as much of a benefit until the account has seen at least 24 months of on time payments. You also want to find an Authorized User Account that has the longest account history. You adopt it all, even if it is 10+ years of history.
No Past Late Payments
The Credit Card must have NO past late payments. We gurentee that our authorized user accounts has never had any past late payments on the account/s. You adopt the credit history of this account.
Maintain A Low Revolving Balance
You will receive the most credit score improvement by becoming authorized user on a seasoned tradeline that currently has and maintains a low balance on the account. Your Credit Score is heavily weighted upon your revolving debt ratio, so make sure that you are not being added to an account that is frequently maxed out or carrying a balance over 50% of the available credit limit. None of our accounts are over 25% balance since we just maintain the accounts solely for adding authorized users like you.
Keep The Account Open
An Authorized User Tradeline can only boost your credit scores if it is currently open. Our accounts stay open indefinitely.
Follow These Simple Rules
If you follow these simple rules, you will ensure that you have a seasoned Authorized User Tradeline that will positively benefit your credit history and improve your credit scores.
What is Piggybacking On An Authorized User Tradeline?
Piggybacking on an Authorized User Tradeline is a term that is typically indicative of “grey hat” credit tactics. This means that they are not illegal. Piggybacking is a term that typically means you are renting, leasing or buying a seasoned Authorized User Tradeline as an attempt to improve your Credit Scores.
Can A Seasoned Authorized User Tradeline Hurt My Credit?
Building your credit is similar to building a permanent structure; If you build a solid foundation, follow code, use quality planning and professionals, your structure will be there forever. If you are looking to cut corners, your structure will not be last for the long haul. Always be wise when trying to improve your credit scores. We look forward to improving and maximizing your Credit Scores, legally and ethically.