Authorized user account tradelines are still effective under the FICO scoring model. Much misinformation to the contrary has been spewed forth by companies performing illegal acts such as adding mortgage and automobile account tradelines to consumer credit reports. The fact is that authorized user accounts are still scored just as any account otherwise, are cheaper, and more importantly, are legal.
The Equal Credit Opportunity Act prescribes that all accounts upon a consumers credit reports which that consumer is permitted to use must be scored under any scoring model. Otherwise, it’s an invalid model and any creditor which would use it would be subject to the civil penalties of the Equal Credit Opportunity Act. As such, no one is using FICO 08′ and by extension, authorized user accounts are still effective as ever.
For more on this visit http://www.apexcreditservices.com and click on “FICO 08′ Explained.”
Finally, do not fall prey to these so-called companies which say they can add “joint” and “individual” accounts. Even assuming that was necessary, it is illegal and you could be culpable for fraud insofar as these are fictious accounts or ones that have backdated histories. Furthermore, most of these accounts have no history and by extension, they do little to nothing to improve your scores. Don’t throw your money away on this illegal and ineffective garbage.
Come to Apex Credit Services, LLC; a licensed, registered, and bonded Credit Services Organization and a proud member of the Better Business Bureau. Contact us at http://www.apexcreditservices.com or 1-888-727-4818.
