Does being an authorized user on someone else’s account help my credit score?

    Published: 06-16-2009
    Views: 12,457
    Mortgage Consultant Markita Aldridge discusses whether being on an authorized user on someone else’s account help your credit score.

    Host: Is being an authorized user on someone else s account help my credit scores?

    Markita Aldridge-Woods: Oh yes; it did in the past. 10% of your credit score actually happens to be the overall credit history meaning how long have you had credit. Well, one way that people have used to boost their scores to get on an account with someone who s had credit for quite a long time and become a authorized user, that way you have already inherited their credit history to help manipulate your score. However, we have legislature here that has changed and with the last two credit bureaus coming on board, they are going to change that, it won't be able to help you. Also, be careful with doing something like that because if that person ever goes into the negative or they start paying late that also is going to be on your credit report as well.