American Express authorized user will hurt credit score?

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432521
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American Express authorized user will hurt credit score?

Postby 432521 » Fri May 04, 2012 1:08 pm

So my dad has a Blue card from American Express and he asked if I wanted one too. I am assuming he means that he could add me on as an authorized user, and me getting a card with my name one it. If he does this will it hurt his credit score or mine, and will they do a hard pull to see if I can become an authorized user or can anyone become one as long as the primary card holder says yes?

Also with me being an authorized user do the bills still go to my dad or will i get my own separate bill? My dad has this thing where he doesn't want me to pay for anything and every time I tell him I am going to out to get a couple of things he always tells me to either get cash from his wallet or get one of his cards. I don't want him to pay for my stuff so if the bills go to him I will tell him to not get me a card.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday


CC Deville
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Postby CC Deville » Fri May 04, 2012 3:20 pm

Adding you as an authorized buyer will not hurt his score and if anything it should help yours as I would assume his card is a few years old. So that should help your average age of account (AAOA).

The only negative effect it could have on your credit is if he defaults on the card. Then that negative info will report on your bureau until you are removed as an authorized buyer.

The statements will still go to your father as he is primarily responsible for the account. I am not sure about Blue and other Amex revolvers (credit cards) but at least with the charge cards (Zync, Green, Gold etc) every authorized buyer has their own account number. The one statement will separate each account #'s purchase activity.

432521
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Postby 432521 » Fri May 04, 2012 3:49 pm

dang i was hoping that I would be getting my own bills. I know for a fact that if the bills go to my dad he will pay it and won't even tell me. It may sound weird coming from a 19 year old kid, but I really want to be responsible on my own by paying for my own things. Its funny because all of my friends all think i am crazy because I don't like my dad paying for my things. I would apply for my own AMex but I don't think I would be approved with my limited credit history and I just got the Freedom.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

bmw1990Z
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Postby bmw1990Z » Fri May 04, 2012 4:07 pm

I am a college student as well, and several of my friends were approved for zyncs w/ same the same sort of history as you. My question about authorized users with amex relates to the Gold delta skymiles card...I want to add my brother to my account because I will get miles for it but (question 1) because he has his own skymiles account, will the miles he earns go towards his account or do they have to go to mine since I am the primary cardholder? Question 2 would be--are there additional fees for a second card or would it just be $95 x 2 for two cards?
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

CC Deville
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Postby CC Deville » Fri May 04, 2012 5:01 pm

432521 wrote:dang i was hoping that I would be getting my own bills. I know for a fact that if the bills go to my dad he will pay it and won't even tell me. It may sound weird coming from a 19 year old kid, but I really want to be responsible on my own by paying for my own things. Its funny because all of my friends all think i am crazy because I don't like my dad paying for my things. I would apply for my own AMex but I don't think I would be approved with my limited credit history and I just got the Freedom.


The way "kids" are these days, yes it is refreshing to see one that wants to pay his/her own way. 19 is technically an adult though so your friends should be paying their own way as well instead of laughing at you. My brother is 26 and completely reliant on my parents and doesn't seem to be embarassed by it.

Did you recon for the Freedom? That is actually a good sign to be approved for a Chase card with limited history. Is that your only credit trade line? I would imagine by December you could try for a Zync to get your foot in the door with Amex. Then after a year with Amex you can apply for one of their credit cards. The new account will be backdated to 2012 (provided you apply and are approved by December of this year).

432521
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Postby 432521 » Fri May 04, 2012 5:20 pm

I am the youngest child my parents have so they still treat me like a baby. I don't really want a charge card and it would suck having to pay a fee every year. I have one credit card from 2011 from wellsfargo its a college card.

Plus coming from a traditional asian house hold my parents didn't even want me to get the job I have now. I had to "sneak" to get it while my parents were on vacation.

And yes I got my Freedom upon recon, it said that I didn't have enough income because I put 6k, but when I called I told them to change it to 12k because I would be making more this year.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

DoingHomework
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Postby DoingHomework » Fri May 04, 2012 6:05 pm

432521 wrote:My dad has this thing where he doesn't want me to pay for anything and every time I tell him I am going to out to get a couple of things he always tells me to either get cash from his wallet or get one of his cards.


Do you think he'd like to adopt an older brother for you? Because I'd be happy to let him pay for everything for me!

Celestine
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Postby Celestine » Fri May 04, 2012 7:02 pm

432521 wrote:I am the youngest child my parents have so they still treat me like a baby. I don't really want a charge card and it would suck having to pay a fee every year. I have one credit card from 2011 from wellsfargo its a college card.

Plus coming from a traditional asian house hold my parents didn't even want me to get the job I have now. I had to "sneak" to get it while my parents were on vacation.

And yes I got my Freedom upon recon, it said that I didn't have enough income because I put 6k, but when I called I told them to change it to 12k because I would be making more this year.


I understand your parents intentions though. They want you to finish your studies and graduate first before you begin to work. Working even for part-time can sometimes affect schoolwork and lower the grades of the student. Actually, you will be able to finish and graduate if you focus on studying for now.

There are internships anyway before graduation so you can use that chance to network and "fish" some employers that will hire you after graduation. Internships are like a stepping stone to working in your chosen career field not just a job. Not to put the retail associates, waiter/waitress, or other similar jobs; but working on those types of jobs when you don't need to do it is a waste of time.

Focus on your studies and graduate from school. Then you can have a career not a job!

Heck! You are one lucky person to not need to work and continue to study full time! Cherish that situation you are in. Many people want to study full time but are not able to.

Out of topic and might be personal but... out of curiosity... Were you born here in the U.S.? Immigrated when you were still a child? Or Immigrated as a teen/young adult?
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

432521
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Postby 432521 » Fri May 04, 2012 7:12 pm

Yea, I totally get where my parents come from. When I got my job I told the managers I would only be working 2 days out of the week because I was a college student and school always came first. I essentially work so I can buy stuff that I want so I do not have to go to my parents and ask them for money when I want to get something. When I wanted my Macbook pro, iPad, and samsung TV I had my own money to buy them and did not have to ask my mom to give me money so I could get them and I was really proud of that.

I was born in America, but my parents are vietnamese and were born over there.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

Crashem
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Postby Crashem » Fri May 04, 2012 7:31 pm

Couple of misconceptions:

1) Adding you as AU on his AMEX will not help your AAoA in short term. You will get a reported open date of this year. On the other hand, with almost any other card assuming it reports, you would get their card history including their open date. However, AMEX will help you in future as you will always have open date of this year which will really help you in the years to come.

2) With the AMEX, you should be able to create a login as an AU. More importantly you can then set up payment from your bank account. You will then be able to pay your charges if you are able to do it before your dad does.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k



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