Question:
I have a friend I am helping to improve his credit score with making him an authorized user on some of my accounts. He has only 40 credit score points before he's at 620. How many points, on average, does an "excellent" credit history add per credit card?
Answers:
You sound like a good friend but you are wasting your time and effort.
In September FICO is changing the way they calculate credit scores so people that are authorized users no longer get any additional points. Plus they are making it retroactive so any points your friend earns next month he will lose come September.
It is different for each card. It takes in account the balance, length of credit,etc.
In my opinion not a very good idea, money has a way of ruining friendships, and credit is tempting. He would be better off just getting his cards down below 30% of their limit, that would raise it substantially. Pay the bills on time etc. Then it is the fact of not your history but the credit to debt ration on your cards again. Think your playing with fire here. Again, my opinion, and it is your decision
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