Building credit score 2019 edition

Post date: 2019-06-17 18:49:24

Someone close to me is looking to rebuild their credit score after 10 years of never having credit cards. They mentioned setting up an authorized user, which I have heard of before. Does this still work in 2019?

A few datapoints for followup questions anticipated:

0. I actually have a good credit score, no missed or late payments, etc.

1. I stopped regularly using my oldest card in 2016. I did end up using it this month for the rewards category, and they've recently sent me mailers requesting I add authorized users. I'm about to switch again because I've found a better cashback deal.

2. I trust this person, and it is reasonable to do so. We are on good terms, and I am already funding their recent move to be closer to family. They don't anticipate using the card, in fact the main risk I see regarding unexpected charges is if their card is stolen.

3. The credit score is a concern less about access to credit, and more about renting, car insurance, employment and other ancillary ways people are punished for not being in the system.

4. They have an old unsettled student loan they've allowed to balloon in fees and penalties, but there doesn't seem to be any negative information about it from the ratings agencies / creditKarma. They report they're working on a repayment plan now that they have a job (starting Monday). No other loans outstanding.

So my questions:
a) Would adding them to my oldest card help the person?
b) Should I add them to more than one card?
b) Could it harm my credit score to do this?

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