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Can adding a second card holder to your credit account affect your credit score?
Wiki User
∙ 17y ago
Not if you are responsible for all of the loans or credit card payments on your credit report. But, if the second card holder is responsible for any payments on your cards, and doesn't make them, then it can cause your score to lower.
Wiki User
∙ 17y ago
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Is an additional credit card holder liable for the whole debt on the credit card account?
ia an additional credit card holder liable for the whole debt of the credit card account
Is a secondary credit card holder resposible for debt?
Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.
Are primary card holders credit affected by adding a user?
A Primary card holder's credit will not be impacted by adding an authorized user.
What does a credit score of 9001 mean?
Account holder deceased
What can happen if you don't pay your credit cards in North Carolina?
The creditor can sue the account holder(s) to recover the debt. The defaulted account will be entered on the consumer's credit report and negatively affect the person's credit score. That type of negative entry will remain on the CR for 7 years.
Is an additional credit card holder liable for the whole debt on the credit card account?
ia an additional credit card holder liable for the whole debt of the credit card account
What information do you need to give to the credit card company to add an authorized user?
Usually all you need is the person's name and their relationship to the account holder. Credit Card issuers have different criteria for adding an authorized person or a second card holder.
Is a secondary credit card holder resposible for debt?
Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.
Are primary card holders credit affected by adding a user?
A Primary card holder's credit will not be impacted by adding an authorized user.
How do you get any credit card benefits if one of credit card holder has died?
If you are a joint account holder you can still use the card. The creditor should be notified of the death of the other account holder. They may simply remove the person from the account or require you to open a new account in your name. However, if you are the joint holder you are responsible for the entire amount owed on the account.
What does a credit score of 9001 mean?
Account holder deceased
What does 'name of account holder' mean?
Name of account holder refers to the name of the person who owns the account. This can be for bank accounts, credit accounts, loans or utility services.
Can a representative check the statement of account of a credit card holder?
yes
What can happen if you don't pay your credit cards in North Carolina?
The creditor can sue the account holder(s) to recover the debt. The defaulted account will be entered on the consumer's credit report and negatively affect the person's credit score. That type of negative entry will remain on the CR for 7 years.
Is a joint applicant's credit affected by a car repossession?
If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.
Can you be removed as a joint account holder when you have not placed any debt on credit card?
No you must close the account.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
