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Question By
Benz68

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How can I improve my wife's credit score quickly?
Would adding her to my accounts as an authorized user help? My CK score is 713 hers is 620

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You should first find out what is on her credit report that has her Credit Score at 620. That needs to be addressed first.

If she has items in collection or Derogatory Marks then it might not help at all.

Reply by
Benz68

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She has no derogatory marks or collections. She does have a few late payments in the last 12 months due to forgetting to pay on time. She only has one secured credit card with a limit of $300 and one online store line if credit of $500. I have about 13 forms of credit  and was thinking of adding her to the biggest ones. 3 or 4 lines of credit with limits ranging from $3,000-$4,000 with 0% utilization right now. Do you think this could help her score?

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Reply by
icuhowie

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She might want to try calling the Credit Card up and see if she can take one or 2 or the late payments off. Tell them is was a oversight on her part and, missed the mail. If she can get one of them off that would help.

Next steps ( and take your time doing it )
Add her to 1 of your CC's with a Long history. Something that would have lots of payment history. We want to increase her payment history. Make note of what her payment history is now, then after adding the one CC. Once you see it reported on her credit report, wait a few weeks or month to see how things level out. Then you might want to try adding another card depending on the outcome of the lastone. Take your time, don't rush into it.

Good Luck.

Do let us know how things work out.

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maybe?!

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I was added as an authorized user to an account that inreased my age of credit by 5 years and also lowered my utilization from 21% to 2%.  I had 100% on time payments as does the account I was added to.  My CK score was 190 points lower than the person who added me.  It has been 4 months and my score hasnt budged a single number.  So I would have to say that the logic is good, but being added on may not do a bit of good to her credit.  Hope this helps and good luck.  

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Yes, adding her on your credit cards will help her score.  I did this with my husband recently.  His credit is incredibly poor, and mine is in the excellent range.  Of course, keep in mind if you have large balances on any accounts, that could ultimately hurt her score by creating a large utilization ratio.

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Yes, that is a great way to improve her score quickly.  Good thinking!

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