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blily

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Is there any Benefits in being an Authorized user on Bank of America travel Rewards card?
my Boyfriend added me as an authorized user to his card. limit of 15,000

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There are some very good benefits to being added as an authorized user and some very bad things as well.   How long has he had this card?  What is your oldest age of accounts?   If he just got it last week, your age of accounts dropped and so did your score.  If he has had the card for 10 years, you just got a boost in your score.   How much does he owe on the card?  If he owes $15,000 of the credit limit, he is at 100% Utilization.   This is now contributed to your Utilization.  that is a bad thing on your credit report.   If he pays it off monthly because he is smart or carries a very small balance (Less than $1,500) then this will probably help you.   Now lets look at his payments.  If he has late payments, then you now have late payments.  That sure hurts a credit score.  If he has 100% on time payment history even if not for the full amount, you now have his on time payment history as well.   Oh, if he defaults and it goes into colleciton, so do you.  ALthough, you are not responsible for the debt.  You just have your name taken off the account and all the bad disappeared with it.    Any questions?

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