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Will the bank change my interest rates if and when the Authorized User credit cards fall off my credit report?

Once you close on a loan, the bank is contractually bound to hold those loan terms and conditions as agreed in your contract. They cannot change the terms solely because your status as an Authorized User has been removed after closing. You will likely continue to qualify for the lower rates, as long as your loan closes before, and if, the tradelines fall off your credit report.

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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Related Frequently Asked Questions:

What is My Real Credit Score?

How do I Get My Real Credit Score?

The short answer is: there’s no such thing as a “real credit score”, except for the one being used by the lender you want to borrow money from because there are literally hundreds of different versions of your credit score.

Now more than ever consumers are proactively monitoring their credit. Not only can you easily get a copy of your credit report on the internet, you can also view your credit score. Companies like Credit Karma, MyFICO.com and Experian.com make it easy to access that information so you can take the necessary steps to improve your score before making significant purchases, potentially saving you thousands. There’s just one problem: many consumers are finding the score provided to them by companies like Credit Karma, Experian.com, and MyFICO.com may not be the same score their financial institution uses when they consider extending credit.

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BoostMyScore can help improve your credit score fast by adding tradelines to your credit report. To learn more, give us a call today: 1-800-531-1472

How big of a boost can I expect from piggybacking tradelines?

The boost is different for everyone. It all depends on what is currently in your credit report and what you choose to purchase from us. The easiest way to answer this question is to say that there are three “Truths” to boosting your credit score through this method.

  1. The more credit cards we add to your credit report, the bigger the boost will be.
  2. The fewer the number of credit cards that you currently have in your credit report showing as open, the bigger the boost will be.
  3. The higher the limit, and the longer the history for the card(s) you choose to add to your credit report, the bigger the boost will be.
Do you work on business credit?

All our Authorized User trade lines are personal credit cards. While we cannot help build your business credit profile, building your personal credit first can be a huge help in obtaining business credit.

Also, keep in mind that business accounts typically only report to the business reporting agencies, Dunn & Bradstreet, Experian Business, and Equifax Business, and not to the personal credit reporting agencies (ExperianTransUnion, and Equifax), and therefore do not help your personal FICO® score.

Got a Question with no answer? Speak to one of our specialists instead

BoostMyScore Team