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Wednesday, March 23rd, 2011
What is the process of adding someone as an authorized user on an account to improve your credit?
If you were to add a person to board Credit is another that is in good ranking to improve their credit rating, how the process works? Do they have to go through the same approval process (credit approval, etc.) or to the authorized user only has to ask to be added to the account? I think I'm reading some of these answers upside down, but I understand the jist of what is said. I was referring more to add to my sister, whom I have seen your credit report to a vacuum of my credit cards I'm on good terms with up to score.
What everyone seems confused about the difference between an authorized user and the owner of a common card. Adding an authorized user will not affect your credit rating either positively or negatively. It will show on your credit as a debt to them possible use, but does not affect the score or the implementation of the new debt. The risk here is more for you, because that person is an authorized user can implement its debt and not be financially responsible for it. A joint owner owns 50% of the card debt. It is in your credit report, and may / will impact negatively or positively. In this case, there is usually some sort of application process – first to be added as an authorized user, then fill out and sign something, and then there are joints. The whole process usually takes about a month depending on the company.
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