Authorized User Tradelines have been a favored method used by Parents, Mortgage Brokers, Real Estate Agents and others to build credit and raise credit scores fast. So When the Fair Isaac Corporation (FICO) announced years ago they were rolling out a new credit scoring model that wouldn’t recognize authorized user accounts, an uproar ensued.
Authorized user accounts have been a great way to give individuals access to credit accounts without being responsible for the payments or having to qualify for the credit accounts.
The Fair Issac Co (FICO) has estimated that 55 million consumers are authorized users on someone else’s credit card.
FICO wanted to stop including authorized user credit in it’s scoring. Seeing that some authorized users don’t actually get use of the credit accounts, however, they get the benefits of the primary account holder’s credit history.
However, FICO 08 could not eliminate authorized user credit from impacting the authorized user’s credit scores. Lenders complained that using FICO 08 without factoring in authorized user credit would inhibit compliance with Federal Reserve Regulation.
Also If authorized user credit were abolished it would have prohibited lenders from complying with the Equal Credit Opportunity Act.
Authorized User Credit remains a part of FICO 8
It only made sense for FICO 8 to continue authorized user credit or “piggyback credit” because every generation of the FICO score formula has included authorized user credit card accounts when calculating a person’s score. FICO 8 score continues that policy.
Authorized user credit continues to benefit consumers with shared management of a credit card account. It also helps lenders by providing scores that are based on a full picture of the consumer’s credit history.
Using Authorized User tradelines for sale to Increase Credit Scores is the Best and Fastest Way to Build Credit and Raise Credit Scores.
When you are added as an authorized user to an account that has a good payment history, your credit score will get an immediate boost. Being an authorized user will help establish your own credit history and raise your credit scores, provided the primary card holder has good credit payment history.
How it helps is that the payment history for the card and the card limit will be reported on your credit report. As soon it reported on your credit file you get an increase in your credit scores.
The Authorized User Tradelines for sale that we have, all have Perfect payment histories and balances below 1% or no balance. The Tradelines have been open 7yrs – 35yrs and they are High Limit Credit Cards.
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