Can you add good credit to your credit report by having another person add you as an authorized user to one of their credit cards?
When another person adds you to a credit card as an authorized user, the credit card company will typically place the account on your credit report as well, serving to help repair your credit. Often, the account will carry a note indicating that you are an authorized user rather than the primary cardholder. Even so, this serves to substantially improve your credit history.
On the other hand, the account will not typically show up with the entire account history, but will show only from the time you were added as an authorized user.
Beware: if the account goes delinquent, it may negatively effect your credit report and the credit card company may even attempt to recover payment from the authorized user. If this happens, your credit repair can slip even further behind.
Lexington Law - Legal and Effective Credit Report Repair. Learn more
More credit repair FAQs here.
When another person adds you to a credit card as an authorized user, the credit card company will typically place the account on your credit report as well, serving to help repair your credit. Often, the account will carry a note indicating that you are an authorized user rather than the primary cardholder. Even so, this serves to substantially improve your credit history.
On the other hand, the account will not typically show up with the entire account history, but will show only from the time you were added as an authorized user.
Beware: if the account goes delinquent, it may negatively effect your credit report and the credit card company may even attempt to recover payment from the authorized user. If this happens, your credit repair can slip even further behind.
Lexington Law - Legal and Effective Credit Report Repair. Learn more
More credit repair FAQs here.