We love you for this one...

Our mouthes are sealed

all right I speak as a professional credit strategist. I see anywhere from 5-10 credit reports a day and seeing the constant changes from each bureau.

Equifax is the only bureau that has not implimented the non-authorized user factoring.

Trans Union and Experian have already implemented it.

Here is what has taken place. The authorized user accounts do not disapear and creditors will not stop offering them. They are just no longer factored into the " pay history and averaging of total accounts" aspect of the credit score.

This is top secret this is. SHHHH

he doesn't have a card because it went through the
shredder.

Now that is what call a responsible wife taking care of business!

You are among those who have not abused the AU "thingy", but I think that what the mass majority is speaking about is those, such as easy-riders, who want to get ahead of the line that people have stood in for many of years to get somewhere. I mean come on, companies has used AU "thingy" to get paid on many of occasions and people were jumping on it because they were in dire need of credit.

If we just take our time and do it right (by ourselves) then we would not have to worry about what the new FICO system is taking away. I feel good not to be among those that will be pulled away and at the same time I feel sorry for those (such as yourself) who used it for good purposes.

Fico 08 is not live yet! Alot of people signed a petition to stop it and
is being talked about on Capital Hill. They were supposed to go
live with the new system in Sep-07 but something happened.
For now AU's are still factored in the scoring module.

Also
sometimes its not just about the piggy back factor. In my situation
mom is taking care of my little one 24-7 while I'm working and
commuting back and forth. Unfortunately she does not have time
to take care of her personal biz. If she needs prescriptions refilled
or whatever I can pick that up for her because I'm on the
account.

What I like about AU vs joint is
you can remove someone who is not responsible where as joint
situations are more complicated. I wanted to share everything
when I first got married and added my spouse on to some of my
accounts. Since I discovered his spending habits I had to give him
the axe. Only with orchard they don't do Au's only Joint. At least
they didn't back in 2004. He cannot be removed unless the account
is closed. For Fico scoring purposes this is my oldest account so
I don't want a severe score drop anytime soon. So for now its still
joint but he doesn't have a card because it went through the
shredder.

its lazy because no matter what the circumstances are, there are credit cards out there for everyone to get their own.

It is a loophole that should have never been there from the beginning.

It is just like everything else, abused mainly by low end people of our society that ruin it for the rest of us.

Authorized user accounts are a misleading representation of credit worthiness.

I talk mainly about the people that rely solely on authorized user accounts. And they never get their own.

I built my credit entirely on my own without a co-signer at all and no authorized user accounts. I started with First Premier and 2 of the other "stepping stone" cards.

Having no credit (to the point that my credit could not be verified even by 1st Premier - they gave me the $200 second chance card) is just as bad as having really bad credit. I had an entirely blank report. If I can do it then so can anyone else. I feel that it is cheating using an authorized user account.

quit being lazy.

Get your own tradelines, you cannot buy a good credit score. You have to earn it.

What does being lazy have anything to do with it? You make it sound like it's a matter of principle ("Don't be lazy, establish your own!") but come on... if someone chooses to have another person on as an AU what's the big deal? All it is is a method for that person to help establish their own tl (that's assuming the original card holder is in good standing with the bank). As long as they're not scamming another unwitting credit holder I don't see why a person shouldn't utilize seasoned tl. Anyway, it's not going to matter in the long run, what with Fico 08.

Im not lazy, just impatient

Well I am here to tell you, you will have to be patient in order to get good credit. Being too impatient will only lead you to the road of distruction.

Thanks guys, I was just checking. Just wanted to see if it was a scam or not. I had just recently learned about piggy-backing and then learned that FICO was going to be changing the way they scored AUs. Hope this was helpful to others who wanted to know more about it. P.S. Im not lazy, just impatient.

quit being lazy.

Get your own tradelines, you cannot buy a good credit score. You have to earn it.

Like they said authorized user accounts no longer count towards your credit score in a positive aspect.

They only count negatively towards the credit score.

I think that becoming or adding an AU is a good idea especially for rewards card because it increases the spending and earns rewards faster. It's a good idea to use AU concept but if you're hoping to increase your FICO score, just forget about it and save your time. MyFICO bases their scoring system on banks' demands and the demand for right now is to prevent AU's from increasing their FICO score by adding the extra cushion with available credit which helps lower utilization which increases your FICO score.

Basically, banks want to see how financially intelligent you are independently.

HJM, do you think it is a good idea then to try and use seasoned trade-lines? Since they are not a scam, why dont more people utilize this method?

No, it's not a scam. It's just lenders are starting to hate for someone to piggy-back on someone else's credit to increase their own score. This is going to force everyone to open a credit card account of their own if they want to build history and increase their credit score.

The AU process is already in effect. Please take yourself off and build your own if you are on somone elses cc as a AU. Your scores will take a serious impact.

Does anyone know if using seasoned trade lines is still a valid way to boost your scores? I read that FICO was looking to stop AU's from affecting one's scores. Any ideas if this has happened yet or is going to happen in the near future? And are seasoned trade lines a scam?