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Authorized user
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1:47 pm
August 19, 2008


Kevin Bown

Moderator

posts 18
1

Jay,

Being added as an authorized user was a way someone could increase their score. I had heard that might go away. What is the current status of this? Is it still in place? Will it go away?


Thanks!


Kevin

9:12 am
August 20, 2008


Jay Espinoza

Member

Austin TX

posts 3
2

Great Question!

Well, it's still in place and no word when it will go into affect. It's been lingering for approximately two years now, it all started when the Credit Bureaus' caught on to what the consumers were doing to help increase their scores immediately and once everyone caught wind of it, it was taken advantage of. I would recommend that a consumer should establish new credit of their own since it does take at lease 6 months before the new open account begins to help in a positive way. You never know when being an authorized user will no longer be allowed and when that happens, all credit scores will drop. 15% of a credit score is based on history of open credit.

A great website to help establish new credit is http://www.creditcards.com, depending on your scores will determine what credit cards to apply for.


Good Luck!
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