Submitted by 7ayalla t3_yjbjmm in personalfinance
My mother in law approached us the other day asking if we can put her as an authorized user on our credit card so she can build her credit. She has a recent bankruptcy and horrible credit, whereas our credit score is 800+. She won't actually be using the card nor have access to it, it will come to us, she just wants us to add her so she can piggyback off our good credit and hopefully boost hers in the meantime. My question is, would this have any negative impact to us and our credit? I initially told my wife as long as she does not have have physical access to the card or uses it, and if it doesn't have any negative ramifications for us, then I don't mind. Can anyone confirm that if we do this we will have no negative ramifications to our credit or anything?
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Thanks!