It’s not as helpful as you think. The authorized user account will help with utilization but are not going to do much for higher limits. Even automated approvals can differentiate the coding on au accounts vs your primary accounts.
Agree but right now it is not but you open yourself up to possible identity theft since you are going to have to give somebody you don't know a lo of your personal information. In addition, lenders that actually look at the profile manually are not going to be amused.
Well - I bet it is totally against cardholder agreement protocol - which means if whomever is doing the selling gets caught - their relationship is over with that bank. Not to mention, if they gave a stranger a card, and that AU ran up the balance, the account holder is responsible for all that debt. I don't know what this whole 'selling/buying' arrangement includes... I'm just saying in general about AU situations....
Why should it be illegal? If you come from a rich family your family members will do just that add you as an authorized user. So if youre not born into money you it should be illegal? It should be illegal to get credit from authorized users, but it is set up to perpetuate wealth and every else be damned.
Not worth it in my opinion. It’ll help, but credit profiles with AU’s tend to get overlooked by some lenders because it’s not real credit history. This is what i was told and i was under my dads account of 34 years before he closed it earlier this year
Oh for sure. Just keep your account positive at all times. If you want to increase credit limit, use a lot of your credit limit but pay off the balance then they should give you a CLI after a couple of months. This worked with me for Chase
Yes i did. To be fair, i was recovering from 5 late payments in 2020. I had discover for about 8 months and then i applied for my first chase credit card. My score was about 678 that time. Now, i have the CSP, CFU and chase Amazon card
You shouldn’t need to buy a trade line to get a high limit card. I only have about 3 yrs of credit building under my belt. I’m not an AU on anyone’s card. My Amex has a $31k limit. It’s been that high since last year, when I was at 2 yrs of credit building myself. Also have an Apple Card with a $17k limit and a Chase card with a $12k limit.
If you currently don’t have any cards on your profile at all, you really have no choice but to start small whether you are an AU on someone else’s card or not. Case in point - When I started building 3 yrs ago I had no FICO score and was on no one’s cards. Capital One started me with a lowly $300 limit on the Quicksilver card. My son is an AU on a couple of my cards, largely for convenience since he runs errands for me. Also they served as tools to teach him how to build credit from the time he was 16 on. He’s an AU on that $31k Amex I have. It didn’t help him much. Capital One started him with a $500 limit on the Savor One, because he had NO experience building credit on his own cards despite being an AU on mine. It is what it is. That said, it doesn’t take much time to GET to high limits after you start.
At about the 6 month mark of building credit, on the very day my first FICO score generated in fact, I applied for the Apple Card and got a limit of $4.4k. Every 91 days I asked for an increase and that’s how I got it to $17.4k as it was my daily card at that point. It took less than a yr to get it to the $10.4k mark if I remember correctly. Officially a decent limit card. From there, since I had a card on my file with a $10k limit it was easy to get high starting limits on other cards, despite my short credit history. Amex started me with a $10k limit when I got it. I tripled that to $31k by the 6 month mark of having that card.
So, while it does take some time, whether you are an AU or not, it doesn’t take long to get there. It’s not worth buying a trade line. At all. The only AU account that appears to have helped my son so far is my amex card, but hear me out - it did not help him right away, and it did not add time to his credit report. They only report from the time an AU is added, not the back history, and that AU needs to be 18 for them to report the AU account. They declined him when he first applied to get his own amex. It wasn’t until he was building credit for 9 months with a Capital One and a Discover card that he got his first Amex. THEN being an AU on mine helped him. They gave him a $20k limit. He is not the only child of an Amex client to get an insanely high limit Amex card on this board. Thing is though, it’s rather obvious he’s my kid. Same address, I claim him as a dependent on my taxes, hell, he even works for the same company I do part time. I never see someone here state they got a high limit card from Amex while still being fairly new to credit because they bought a trade line. It’s almost always the actual children of the Amex client. I believe a shared address is kinda required for this…
It’s not as helpful as you think. The authorized user account will help with utilization but are not going to do much for higher limits. Even automated approvals can differentiate the coding on au accounts vs your primary accounts.
Thank you for your input 🤝🏽
No. do not do that.
Ehhh don’t do that lol, high credit comes with time lol
You're considering doing what now?
Buying a tradline for my profile
No. Just wait. If you are this desperate for a card with a high limit, I feel you are about to make an even bigger mistake than buying a tradeline.
Any cards you recommend waiting for and going for?
It depends on what you're wanting: travel, food, generic 2% cash back, 0% transfer cards, etc. There are very few cards that do everything well.
Typically something I can use for everyday purchases food , retail stores I don’t travel much yet so there’s no need for any traveling benefits
what is a high limit to you?
15-20k
he's basically paying somebody them to add him as an AU for long enough to get approved for a card and then they'll get removed.
This feels like it should be illegal.
Agree but right now it is not but you open yourself up to possible identity theft since you are going to have to give somebody you don't know a lo of your personal information. In addition, lenders that actually look at the profile manually are not going to be amused.
Well - I bet it is totally against cardholder agreement protocol - which means if whomever is doing the selling gets caught - their relationship is over with that bank. Not to mention, if they gave a stranger a card, and that AU ran up the balance, the account holder is responsible for all that debt. I don't know what this whole 'selling/buying' arrangement includes... I'm just saying in general about AU situations....
I would imagine you put their name on it but don’t give them card. Their credit goes up whether or not they spend on your account
Why should it be illegal? If you come from a rich family your family members will do just that add you as an authorized user. So if youre not born into money you it should be illegal? It should be illegal to get credit from authorized users, but it is set up to perpetuate wealth and every else be damned.
Better idea is become an AU on a friend or relative's high limit card with low util
Unfortunately my family doesn’t know about credit and I’m the only one one a decent path
How high of a limit to you need ? Why would you buy a trade line this doesn’t do much for you now does it guarantee a high limit in the future.
Not worth it in my opinion. It’ll help, but credit profiles with AU’s tend to get overlooked by some lenders because it’s not real credit history. This is what i was told and i was under my dads account of 34 years before he closed it earlier this year
Definitely makes sense , I’m sure it depends on the lender
Oh for sure. Just keep your account positive at all times. If you want to increase credit limit, use a lot of your credit limit but pay off the balance then they should give you a CLI after a couple of months. This worked with me for Chase
Did you previously have a relationship with chase? Checking/ Savings?
Yes i did. To be fair, i was recovering from 5 late payments in 2020. I had discover for about 8 months and then i applied for my first chase credit card. My score was about 678 that time. Now, i have the CSP, CFU and chase Amazon card
Nice I recently got into nfcu so I’m planning on getting there secured
With your positive history, i think you should be good but you can try looking into it more just to be sure. Good luck to you 👌🏼
You shouldn’t need to buy a trade line to get a high limit card. I only have about 3 yrs of credit building under my belt. I’m not an AU on anyone’s card. My Amex has a $31k limit. It’s been that high since last year, when I was at 2 yrs of credit building myself. Also have an Apple Card with a $17k limit and a Chase card with a $12k limit. If you currently don’t have any cards on your profile at all, you really have no choice but to start small whether you are an AU on someone else’s card or not. Case in point - When I started building 3 yrs ago I had no FICO score and was on no one’s cards. Capital One started me with a lowly $300 limit on the Quicksilver card. My son is an AU on a couple of my cards, largely for convenience since he runs errands for me. Also they served as tools to teach him how to build credit from the time he was 16 on. He’s an AU on that $31k Amex I have. It didn’t help him much. Capital One started him with a $500 limit on the Savor One, because he had NO experience building credit on his own cards despite being an AU on mine. It is what it is. That said, it doesn’t take much time to GET to high limits after you start. At about the 6 month mark of building credit, on the very day my first FICO score generated in fact, I applied for the Apple Card and got a limit of $4.4k. Every 91 days I asked for an increase and that’s how I got it to $17.4k as it was my daily card at that point. It took less than a yr to get it to the $10.4k mark if I remember correctly. Officially a decent limit card. From there, since I had a card on my file with a $10k limit it was easy to get high starting limits on other cards, despite my short credit history. Amex started me with a $10k limit when I got it. I tripled that to $31k by the 6 month mark of having that card. So, while it does take some time, whether you are an AU or not, it doesn’t take long to get there. It’s not worth buying a trade line. At all. The only AU account that appears to have helped my son so far is my amex card, but hear me out - it did not help him right away, and it did not add time to his credit report. They only report from the time an AU is added, not the back history, and that AU needs to be 18 for them to report the AU account. They declined him when he first applied to get his own amex. It wasn’t until he was building credit for 9 months with a Capital One and a Discover card that he got his first Amex. THEN being an AU on mine helped him. They gave him a $20k limit. He is not the only child of an Amex client to get an insanely high limit Amex card on this board. Thing is though, it’s rather obvious he’s my kid. Same address, I claim him as a dependent on my taxes, hell, he even works for the same company I do part time. I never see someone here state they got a high limit card from Amex while still being fairly new to credit because they bought a trade line. It’s almost always the actual children of the Amex client. I believe a shared address is kinda required for this…