Should I build credit or become an authorized user?

My credit score is very bad. I’m trying to get a credit card for the last few months. I have not yet been successful. My sister has a credit card in good standing. She wants to make me the authorized user of her credit card. I have not accepted her offer yet. I’m scared. I don’t want her to suffer because of me. I don’t her to lose credit score. What should I do? Should I accept her offer? Should I try to build credit through my own efforts?

7 Answers

If you're sure about making your credit card bill payments on time, you may accept your sister's offer.

You can get yourself added as the authorized user on your sister's credit, but it would also be better for you to work on improving your credit. This is going to help you in ensuring that you can later do without the good credit rating of your sister. It is not wise to stay added as an authorized user for long.

You can easily accept your sister's offer, but make sure you don't land up splurging. As for building your credit score, then first of all try making all the payments on which you've been lagging behind. Check your credit report and make sure that it's error free.

If you want to build your credit, then you will have to repair your credit. Always pay your bills on time. Pay off all outstanding debts asap. Keep adding positive information on your credit report. By following the above mentioned tips, you would be able to improve your credit score.

Have you tried a secured credit card? Typically you provide a deposit equal to your credit limit. Easy to get approved and will report to the credit bureaus. Just pay attention to any fees and charges. I got mine through my credit union.

Thanks Soaplady. Please tell me how can I build my credit apart from being an authorized user?

She will not suffer...your credit will not be reflected on hers. 



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