When building and/or improving your credit, authorized user accounts can be extremely beneficial to your scores. Authorized User Accounts help your scores in multiple ways:
1 – Authorized User Accounts Bring your Credit Utilization Down:
Your credit card utilization is the percentage of your credit limits that you are using. It’s calculated by dividing your total credit card balances by your total credit limits on open accounts. Generally speaking, the higher your credit card utilization, the lower is your credit score.
The utilization rate affects your scores tremendously. A person who constantly charges all of the money they can, hitting or going over their credit limit, is far more likely to have difficulty repaying that money than a person who uses their credit cards sparingly.
Authorized User Accounts can help your scores by adding credit limit to your credit thus increasing your available credit.
For example, if you were to be added as an Authorized User to a $16,000 credit limit credit card your credit utilization would go down by over 45% as shown below:
The more available credit you have, the merrier. Therefore, you can have as many authorized user accounts as you wish, although we usually advise you not to purchase any more than 5 authorized user accounts.
2 – Authorized User Accounts Add Payment History to Your Credit:
When you don’t have any scores due to lack of payment history in the past 6 months, authorized user accounts can certainly help you.
The first thing any lender wants to know is whether you’ve paid past credit accounts on time. This is one of the most important factors in any type of score and it amounts to 35% of your credit score.
The length of the payment history play a role in your scores, therefore you always want authorized user accounts with a lengthy payment history.
3 – We have Authorized User Accounts for Sale:
Because Authorized User Accounts bring your credit utilization down and add to your payment history, they are extremely beneficial to your scores. Depending upon your individual credit, one single authorized user account can be responsible for over a 150 point score increase.
We can help you if you are in need of an Authorized User Account. We have an increasing portfolio of accounts from different creditors, different payment history and different credit limit for sale. We do not issue you a card, the account remains on your credit for up to 60 days once it has reported.
We charge half the prices of our competition and the accounts are reported for double our competition’s timeframe.
|Creditor||Credit Limit||Date opened||Payment History||Report date*||Price||Client’s Price**||Availability|
|Chase||$40,000||01/2012||over 9 years||1st||$1,300||$650||unavailable|
|Chase||$35,000||01/2012||over 9 years||1st||$1,200||$600||unavailable|
|Chase||$30,000||06/2013||over 8 years||5th||$1,100||$550||unavailable|
|Barclays||$24,400||04/2018||over 3 years||24th||$750||$395||available|
|Chase||$24,200||06/2018||over 3 years||17th||$750||$395||available|
|Navy Federal||$18,000||06/2015||over 6 years||2nd||$600||$300||unavailable|
|Discover||$13,200||11/2013||over 8 years||24th||$500||$310||available|
|USAA||$10,000||02/2021||over 11 months||22nd||$500||$250||unavailable|
|USAA||$5,000||10/2021||over 3 months||15th||$400||$200||unavailable|
|Citi||$6,000||05/2021||over 6 months||7th||$400||$200||unavailable|
|Capital One||$5,000||12/2020||over a year||7th||$500||$250||unavailable|
*Report date is an approximate day of the month.
**Since our credit repair clients are our priority, we offer a 50% discount to our existing credit repair clients. Please contact us for availability and additional details.
***American Express requires client to be a cardholder. The payment history will start being reported once client is added to the account.
****American Express, although not common, may take up to 5-6 weeks to report an account as authorized user once a client is added.
Compare our prices with different providers on the web.
4 – Authorized User Accounts May Remain On Your Credit Forever:
An authorized user account may remain on your credit report forever. Our authorized user accounts report as “open” for a period of around 120 days. Once this time is up, the account will then be reported as “closed” and the perfect payment history may remain on your credit report forever. This is very beneficial to your scores.
Although we advise against it, if you wish the account can also be completely removed off your credit report.
5 – Further Steps To Take Once an Authorized User Account reports (Optional):
The “mission” of an authorized user account is to drive up your credit scores. Once your scores are higher, we want you to take full advantage of its benefits.
There are further steps to take in order to assure your scores keep on improving:
1) Contact your current open credit card accounts (if any) and ask for a credit limit increase;
2) Apply for additional lines of credit (revolving accounts) as it becomes much easier for you to be approved at this point.
Authorized User Accounts – Frequently Asked Questions
1. What is an authorized user?
An authorized user is someone that can be added to an existing credit card account. The credit card holder calls the credit card issuer and provides the credit card issuer with the person’s full name, date of birth, social security number and address in order to report the account to the bureaus. There is no cost for this service and depending upon the credit card, a credit card holder can have up to 9 authorized users.
The existing payment history on the account is then reported to the authorized user’s credit through the credit bureaus, which will point out the person is an authorized user on the account in question.
2. How does being an authorized user help my credit?
Being an authorized user on a credit card account can help your score or damage it. If the credit card holder has a perfect long payment history and carries low balance, that exact history will be reported to your credit, thus boosting your score. The same happens if the credit card holder has a less than perfect payment history and his/her credit card is maxed out, thus hurting your score instead of helping it.
3. If I have bad credit, does it affect the credit card holder’s credit?
No. None of your credit will ever be reported to the credit card holder’s credit nor will the credit card holder be responsible for any your debt. Only the credit card in question will be reported to your credit and the credit card holder’s credit will not change in any way.
4. If the credit card holder has bad credit, does it affect my credit?
No. Only the credit card in question will be reported to your credit. Although if the credit card in question holds a bad payment history, the credit card will affect your credit adversely.
5. Can an authorized user be removed from a credit card any time?
Yes. The credit card holder just needs to call the credit card issuer and have the authorized user removed from the credit card. The authorized user is not liable for the balance on the account.
6. Do I HAVE to be issued a credit card under my name while being added as an authorized user?
No. When the credit card holder adds you as an authorized user, he/she will have the option to issue you a card or not. The credit card holder can even issue you a card and have it sent to his/her address and never give it to you.
7. Can I charge to a credit card where I am recorded as the authorized user?
Yes. ONLY if you have the card in hands.
8. Can I make changes to the credit card holder’s credit card account?
No. Only the credit card holder can issue you a card, make changes to his/her own personal information and/or terms of the account.
9. Do I have access to the credit card holder’s personal information?
No. You do not gain access to the card holder’s personal information (social security number, etc) and if the card holder does not issue you a card, you will not even have access to the full credit card account number nor expiration date. The credit card number will appear on your credit as 434212341234XXXX (last 4 digits will be masked).