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These Work!

- Wednesday, August 05, 2015
Wouldn't it be nice if you could just add an account to a your credit report, and it automatically has a 2 year PERFECT payment history? Well you can, AND it is 100% legal. 

Authorized user accounts are the only legal way to back-date credit reports and add past positive credit history. An authorize user is when a spouse or family member calls their existing credit card company, and asks to have you added as a user. This allows the consumer to use the card, but they are not required to have their credit pulled to qualify for the account. 

What happens is that once you become an authorized user, the account is then added to your credit profile. You will receive the full benefits of the long-standing positive pay history account. 

This means your credit scores go up, just as if you had a 2 year perfectly paid account for years. And the impact to your scores is immediate and substantial. 

The key is that you must be added to an account you can prove relation to. The FICO 08 credit score will NOT give the consumer credit unless the two people have some form of shared information. 

When doing this you want to make sure you get added to a long-standing account, with positive credit history, and that the creditor reports authorized user accounts on the credit report. 

15% of the overall credit score is based on the length of credit history. So the longer standing account that is added, the higher the score increase will be. 

35% of the score is based on payment history. So an account with a lot of on time payments can really increase the score. 

30% of the FICO score is based on available credit.So the best account that can be added is a long-standing, paid as agreed, revolving credit card account with a really high limit and really low balance giving it a good utilization ratio. 

I hope this information has been beneficial to you, our goal at Guiding Hands is to help you improve your credit scores ASAP!, 

Guiding Hands has helped thousands to improve their credit scores and clean up their credit reports and we want to help you to! Call today to set up a free credit report analysis so we can advise you on how we can help you to reach your credit goals! 
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