If my spouse adds me as an authorized user to their account, will it improve my credit score?
Authorized User accounts can increase your credit scores. To answer your question regarding your husband’s account – possibly. It depends on a few things:
1.) If the card has low utilization (at least below 30%)
2.) If the card is free from late payments
3.) If combined with the information on your credit report, it’s signifiant enough (for example – if you already have 10 credit cards with high utilization, a $3,000 card with a couple years of history won’t do much).
4.) If you don’t have negatives such as collections, charge-offs, or late payments within the past six months.
Best of luck!
Cory Miller (321-799-6159)