Length of credit history accounts for 15%

“Time in the bureau” accounts for 15% of your credit score. The older you are, and the longer you have had open credit accounts, the higher the score. This is why it is nearly impossible to get to an 800 score at a young age.

As you continue to accrue more accounts throughout your life, your history grows over time and your score will increase. Being added as an authorized user to an account with a long pay history is another way to increase your score. But keep in mind, the new scoring models won’t give you credit for most authorized user accounts, unless you are authorized on a family member's account. If you have a family member who has had positive, open accounts for some time, you can check to see if that person will add you as an authorized user on one of their accounts.

There is no risk for your family member, since you won’t be able to use the account unless you physically get a card. However, you will get credit on your reports, and this will increase your credit score.

We look forward to helping you achieve your goals, and provide better opportunities for you and your family. Give us a call. We are standing by, ready to help!