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Do Authorized User Tradelines Still Work?

Do AU Trade Lines Impact Credit Reports?

Despite fear and anxiety to the contrary, Authorized User tradelines continue to report to the credit bureaus and impact millions of credit reports.

According to the study completed by the Federal Reserve Bank, “…creditors may have to consider all authorized user accounts on an individual’s credit record, regardless of whether they reflect a spousal relationship to an account holder. For this reason, credit history scores, such as the FICO score®, have traditionally accorded authorized user accounts equal weight to the other accounts on an individual’s credit record. If the account has desirable characteristics (such as a low utilization rate or a good payment history), this may improve the authorized user’s credit risk profile and credit scores. The result may be enhanced access to credit and reduced borrowing costs.”

Additionally, the Fair Isaac Corporation (FICO®) also confirmed in Congressional testimony, “After consulting with the Federal Reserve Board and the Federal Trade Commission earlier this year, Fair Isaac has decided to include consideration of authorized user tradelines present on the credit report in the FICO 08 model.”

Improve your credit in record time with a tradeline from BoostMyScore.

Thousands of people enjoy the benefits of a lower credit utilization ratio with the help of a tradeline account from BoostMyScore. The results are almost immediate, and our services are guaranteed. If you are tired of paying higher interest rates and are ready to see what life is like with good credit, call one of the highly trained specialists at BoostMyScore today at 1-800-531-1472.

Bill Airy

About the Author:

Bill Airy is the CEO and Founder of BoostMyScore. For over 12 years he has helped American consumers get a second chance at a better financial life by helping them to improve their credit score. He regularly publishes helpful content on this Blog to educate others about Credit Scores and best practices when trying to improve them.

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What Happens to My Credit Score if I Max Out My Credit Cards?

Is it Worse to Max Out Your Credit Cards or Pay Late?

A while back we were playing with a credit score simulator on CreditKarma.com and found some interesting things.

What Happens to My Credit Score if I Miss a Credit Card Payment?

First, we did a simulation of “if I were to pay EVERY account on my credit report late by 1 month” and the results are below:

Ouch…160 points lost in 1 single month.  Honestly, not as bad as we were expecting. Don’t get me wrong, 160 points is a big drop, but we honestly expected to see worse results for being late on EVERY account on our credit report.

What Happens if I Max Out All My Credit Cards?

Now, we ran the simulator for a comparison to see what would happen if, instead of going late, we maxed out all our credit cards to 100% utilization….drum roll……

max out credit cards

DOWN 271 POINTS!!!!!!!!!  Obviously maxing out credit cards is far worse than paying late in terms of the negative results to your credit score.  However, you must keep in mind that the late payments are going to negatively affect your credit score for several years, whereas the maxed-out cards, once paid down, will be like they never existed to the credit scoring model.

What Happens When you Carry a Balance on Your Credit Cards at Different Levels?

The reason for this experiment was really to see what maxing out cards can do to a score.

We decided to see what effect the utilization ratio has on the credit score at 10% intervals.  We did 90%, 80, 70… all the way to 5% and the results are VERY interesting! Take a look:

  • 90% = down 235 points… going from 100% to 90% increased the score 36 points:
  • 80% = down 167 points…dropping it down to just 80% was 104 points difference versus 100% utilization:
  • 70% = down 163 points…4 point gain
  • 60% = down 160 points…3 point gain
  • 50% = down 152 points…8 point gain
  • 40% = down 93 points…turns out that dropping below 50% is a real big turning point.
  • 30% = down 82 points
  • 20% = down 69 points
  • 10% = down 32 points
  • 5% = down 7 points

Improve your credit in record time with a tradeline from BoostMyScore.

Thousands of people enjoy the benefits of a lower credit utilization ratio with the help of a tradeline account from BoostMyScore. The results are almost immediate, and our services are guaranteed. If you are tired of paying higher interest rates and are ready to see what life is like with good credit, call one of the highly trained specialists at BoostMyScore today at 1-800-531-1472.

How long does it take for the tradelines to appear on my credit report?

BoostMyScore guarantees that our tradelines will appear on at least one of your three credit reports in less than 60 days from the First Estimated Monthly Reporting Date, or we will give you all your money back. Typically, tradelines appear in your credit report in less than 30 days; most of the time it takes just a week or two after the First Estimated Monthly Reporting Date.

More specifically, tradelines usually take a couple days to pop up on Experian®, and then a couple more for Transunion®. Equifax® is typically the slowest to report the tradeline, but you should see it appear on all three of your credit reports within 7 days of the First Estimated Monthly Reporting Date. Be sure to write down that date, because if the tradelines you buy are not on your credit reports within 7 days of the First Estimated Monthly Reporting Date, then you need to let us know right away so we can correct whatever error was made by the primary cardholder when they first added you as an Authorized User to their card.

No matter what, though, we guarantee this tradeline will post to your credit report within the promised time frame. If not, we will give you all your money back.

If you need more clarification, then simply call us at 1-800-531-1472. We are here to help.

How long do piggybacking trade lines remain on my credit report?

Our Primary Cardholders are required by contract to keep you listed as an Authorized User on their credit card for no less than 60 days. As a result, we guarantee the history of the card you have chosen will remain on your credit report for at least 60 days. In the unexpected event that the card(s) falls off your credit sooner than 60 days, we will either issue a pro-rated refund of your money, or re-add you to the card for an additional reporting cycle, at no additional cost to you. If the card does fall off your credit report after the 60-day lease term expires, and you are still in need of a boosted credit score, we can always renew your lease under the same terms.

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BoostMyScore Team