How long until an authorized user account will help my credit repair program?
Authorized user accounts are one of the fastest ways to get your credit repair program underway. The moment that the account shows up on your credit report your credit scores will respond. This may take up to sixty days depending on the reporting schedule of the creditor.
Not a Final Solution
It is important to note that authorized user accounts are not a substitute for building your own credit. An authorized user account can provide a nice score boost for someone sincerely trying to get back on their feet, but remember that an authorized user account is not yours. For long term credit repair success it is imperative that you have accounts of your own. If you are unable to get approved for regular credit cards you should get secured cards. You won’t get denied and they are easy to get. Secured cards, however, can take up to six months to deliver the complete credit score benefit. This benefit can be significant, but you need to keep the timing factor in mind.
Initial Score Drop
And even more important to know, especially in the case that you are hoping for a quick credit score improvement, the first few months that a new credit card reports your scores will actually fall. This is because the FICO scoring model will lower your score when new untested credit is reported. After you demonstrate the ability to manage the new debt your score will pop back up. This is not the case with authorized user accounts because they have been seasoned by the donor prior to adding you to the account.