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kcharleton

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How can I help build my SO's credit?
My significant other has never had or needed a credit card before, and we've been talking about creating a future together. I'm concerned his lack of credit will make renting or purchasing an apartment together difficult. Can he be an authorized user?

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Authorized user

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Account "Users"

If you open an individual account, you may authorize another person to use it. If you name your spouse as the authorized user, a creditor who reports the credit history to a credit bureau must report it in your spouse's name as well as in your's (if the account was opened after June 1, 1977). A creditor also may report the credit history in the name of any other authorized user. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre08.shtm

Basically if you add a spouse, the credit company must report the account on their name too, and they may do so for any authorized user which most of them do. So if you add him as an authorized user with his social then all you payments will show on his file too. (And by the way you don't need to actually give him a card or access to your account, as only you are liable for the debt).

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