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

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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.

Expert: Markita Aldridge

Mortgage Consultant

www.thelendingadvisors.com

P: 703-497-3936

Email: markita@weststarmortgage.com

Markita has been called :The Queen of Mortgage Financing especially after a BK". Since 2002, Markita has been a top-producing loan officer with WestStar Mortgage located in Lake Ridge, VA. She offers her clients expert service in mortgage financing regardless of credit history. Markita's former career as a professional basketball player with the "Washington Mystics of the WNBA" has been her More »