Monday, August 13, 2007

FICO score no longer includes authorized users

This was a given when the news came out about companies that were artificially boosting people's credit scores by attaching them to the credit of others who, for payment, have excellent scores.

Now the typical "sign up a dependent" for a credit card to help them establish credit will no longer work.

FICO 08 rolls out in September. Other scores like the VantageScore do not include authorized users either.

I personally agree with their decision. For students with no credit, a secured credit card will do fine.

Here's an article with more information.

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