February 26, 2010 11:44 PM Subscribe
Will it help my boyfriend's credit if I add him as an "authorized user" on my credit card? I have fantastic credit.
posted by lucky25 to work & money (32 answers total) 1 user marked this as a favorite
Here's the thing. My boyfriend is currently in a no-credit (NOT bad-credit) situation. I have great credit. He went to go apply for a credit card through his bank and was turned down, unless he had a co-signer. He came to me, and I said, well, maybe I'll co-sign for you, but first let's see if there's anything else we can do. It turned out, or so the Internet said, that all I had to do was add him as an "authorized user" to the credit card that I already had, and then every time I made a payment it would bump up his credit, etc, you see where I'm going with this. I didn't really feel comfortable doing that until I knew more. My credit card balance...welll...it exists, I won't deny that. However, I've never once missed a payment or made less than the minimum payment in 7 years that I've had this card. I am now in a position to start seriously paying it off. IS it a good idea for him to be an A/U on this account? Is it a good idea for me? I've gotten such a huge range of answers by googling this question! I know YANMA (you are not my accountant), but does anyone have any prior experience with trying this? Will it help him? Will it hurt either one of us? Thanks!