Authorized User On Relatives Credit Card

[malibu]

I'm waiting on my discharge. Because I'm in LA county it will probably won't discharge until Feb 2011 or so.

I live with my working godfather, and I handle all his finances. Day to day expenses, monthly expenses, investment accounts, retirement accounts, purchases, etc. I've gotten his FICO up by removing false information from his credit reports, etc.

After I filed, and my personal two credit cards were canceled, I added myself as an authorized user on the main credit card I have him using (a Chase United Airlines Visa, 10k limit, because he is a Premiere Executive on United so it gets him miles).

When I called Chase to add me, I was given two options-

1)"Authorized User" which just involved me giving them the name I wanted on the credit card
2)"Responsible User" which involved me being responsible for the account as well, and would require my social etc.

Because at the time I was pre 341, I just chose number 1, and for a few months I've been using it when I pick up items for him, pay bills, etc. Since he supports me financially while I search for a job, I also use it for my own expenses. I pay off his card in full every month (sometimes twice a month when it goes over 10k since its the only card he uses, and he uses it for business expenses as well).

Anyway, here is my question.

When I'm discharged, I immediately want to start building my credit back up.

Obviously I'm going to get the Hooters Card, and whatever other people get on here.

But I'm wondering about adding me as a "responsible" user to the United Card and wanted to know if anyone knew about this.

-Will they pull my credit to add me? IE is there a chance that I could be denied
-Is there anyway this could effect his card? This is the most important card he has, I charge EVERYTHING to it for the miles, so I don't want to compromise it at all
-Assuming it works will there be a tradeline on my credit report showing the monthly payments being made?

What I was hoping is that I could add myself as a responsible user to the account instead of an authorized user so they will start reporting on my credit report and show the large credit limit/being paid in full every month.

Thanks for any advice.

[backtoschool]

I'm waiting on my discharge. Because I'm in LA county it will probably won't discharge until Feb 2011 or so.

I live with my working godfather, and I handle all his finances. Day to day expenses, monthly expenses, investment accounts, retirement accounts, purchases, etc. I've gotten his FICO up by removing false information from his credit reports, etc.

After I filed, and my personal two credit cards were canceled, I added myself as an authorized user on the main credit card I have him using (a Chase United Airlines Visa, 10k limit, because he is a Premiere Executive on United so it gets him miles).

When I called Chase to add me, I was given two options-

1)"Authorized User" which just involved me giving them the name I wanted on the credit card
2)"Responsible User" which involved me being responsible for the account as well, and would require my social etc.

Because at the time I was pre 341, I just chose number 1, and for a few months I've been using it when I pick up items for him, pay bills, etc. Since he supports me financially while I search for a job, I also use it for my own expenses. I pay off his card in full every month (sometimes twice a month when it goes over 10k since its the only card he uses, and he uses it for business expenses as well).

Anyway, here is my question.

When I'm discharged, I immediately want to start building my credit back up.

Obviously I'm going to get the Hooters Card, and whatever other people get on here.

But I'm wondering about adding me as a "responsible" user to the United Card and wanted to know if anyone knew about this.

-Will they pull my credit to add me? IE is there a chance that I could be denied
-Is there anyway this could effect his card? This is the most important card he has, I charge EVERYTHING to it for the miles, so I don't want to compromise it at all
-Assuming it works will there be a tradeline on my credit report showing the monthly payments being made?

What I was hoping is that I could add myself as a responsible user to the account instead of an authorized user so they will start reporting on my credit report and show the large credit limit/being paid in full every month.

Thanks for any advice.

Being a "responsible user" means being a co-applicant, and you will not get approved for this post discharge. I would continue to be an authorized user on the card for practical reasons, although it will not help your credit as much in the new fico models and it used to. (it still helps some), and get your own cards.

[malibu]

Being a "responsible user" means being a co-applicant, and you will not get approved for this post discharge. I would continue to be an authorized user on the card for practical reasons, although it will not help your credit as much in the new fico models and it used to. (it still helps some), and get your own cards.

Thanks for the reply.

I have a clarification question though. You say leaving it as is will "still help some" but how is that possible if they don't have my social security number which would be required if they are going to put a TL on my credit report? I assume that without them having my social, there will be no reporting on my credit and thus it won't help me at all?

[backtoschool]

Authorized user accounts have stopped being that beneficial to fico scores, but they can help some, if you are related to the primary card holder (as opposed to buying the right to have a card on your report like people used to do). Usually these cards can get enough identifying info to put the line on your credit report even without the social security number, but some prime creditors, such as amex, require the social security number for any type of authorized user. It could be, that with tighter credit standards, all prime cards are requiring a social security number to report the line on your reports now.

[malibu]

Authorized user accounts have stopped being that beneficial to fico scores, but they can help some, if you are related to the primary card holder (as opposed to buying the right to have a card on your report like people used to do). Usually these cards can get enough identifying info to put the line on your credit report even without the social security number, but some prime creditors, such as amex, require the social security number for any type of authorized user. It could be, that with tighter credit standards, all prime cards are requiring a social security number to report the line on your reports now.

The primary isn't directly related to me, he is my godfather, so I don't see them being able to get enough info for a TL, even with me living here with him.

I wish I could get a TL for it because about 7k is spent each month and it is always paid in full.

I don't suppose calling them and asking would be a good idea?

I have to continue to have use of the card as it is the only way I can pay for things so I don't want to call and have them reject me for any reason and not let me use the card.

[backtoschool]

When fico changed the authorized user weight in their modeling, it was to try to prevent people from paying to have use of someone else's huge old credit line and thereby getting a large bump in score. But there was a backlash because many married couples are authorized users on each other's cards, and many parents help their children establish credit, etc by having the child as an authorized user on the card, so some types of authorized user relationships count a bit in the score and others don't. Since fico modeling is locked down I do not know where the line is drawn.

I would not give my social security number to the bank because with a recent bk, the chances you would be approved as a co owner of the card is very slim.

[malibu]

Thank you for the info.

When I added my name to the account I didn't state any relationship.

Do you think if I had my godfather call back and state that I'm his godson/adopted son that it would help or should I just accept it and move on?

[backtoschool]

Right now you have unlimited use of the card. I would accept that and move on.