In general, NO!
If you did not sign anything to be a member then you are not bound contractually, period!
However, discover has sued people who were put on as authorized uses and then you have to sue back or provide proof that you were just a non-binding card carryer. So they can hold you resposible, but not legally - you may have to fight to get off the account.
BoA allows primary card members to simply enter a name, birthdate, and social security number for an authorized user and then they begin REPORTING to the credit agencies that primary person's credit card activity. So, this can be used to suddenly make it seem like you have a credit card and good credit when you really do not - this is a common technique used by gurus to instantly build credit. But, it will also show up as a defaulted account if the main card member defaults! So if this happens, you will have to all in and claim that you are not the primary card member and have them quit reporting to you (you might also deny that you ever gave permission to be an authorized user!)
Absolutely. I have been paying off my boyfriends account for 2 years now and as long as I put the account number on there, they don't care who it is from, as long as they get their money. * In addition, a person who makes payments on someone else's credit card account is not legally bound to continue to do so nor are they responsible for the debt itself.
== == There is no difference in credit score increase if you pay a close or open account off. Paying an account is always a good idea, and eventually it will increase your score.
account payable
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
Yes they can and they probably will. if you are concerned about your credit profile, it would not be a good idea to stop paying.
If someone stops paying their credit card bill, the account will go into collections. Additional fees and interests will be added to the account. Based on the amount owed on the credit card bill, the lender may file suit.
Money that was paid into your account by someone going into the bank and paying it over the counter
Absolutely. I have been paying off my boyfriends account for 2 years now and as long as I put the account number on there, they don't care who it is from, as long as they get their money. * In addition, a person who makes payments on someone else's credit card account is not legally bound to continue to do so nor are they responsible for the debt itself.
== == There is no difference in credit score increase if you pay a close or open account off. Paying an account is always a good idea, and eventually it will increase your score.
account payable
No, you can not give credit that you have to someone else. You can loan someone money or your credit card, but you are still responsible for paying the credit card company back.
Good credit And A record of paying bills on time.
Paying the minimum amount due on credit card is not necessarily a sign of credit trouble because it actually makes the credit card account current.
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
Closing the account will remove the temptation to spend up the cards again but, closing the account can actually lower your credit score. You ought to take that question and your private credit information to a credit counselor for a better answer. By the way, CONGRATULATIONS on paying off the cards!
No, only if the account is a paid closed account. What affects your score is utilization of your credit limit, which should only be about 25 to 35%.
no