NO. Only the primary and/or joint owners are responsible for paying the owed balance, even if all charges were accrued by an authorized user. They are also the only ones 1) held accountable if the bill is not paid and 2) whos credit rating is affected.
It depends on if the account was good and helping your score or a bad account that was holding your account down. Removing a good account cold lower your score.
Your score will only be affected if the account is past due/derogatory. Otherwise you may see an increase in your score due to debt/income ratio becoming smaller. WHAT!?! to whomever answered this. An authorized user can use the account/card. They can also make payments to the account, but they are not required to make payments. These are the only things they can do. That being said, The Primary account holder is the responsible party. Anything that goes wrong or right with the account gets reported to the Primary's Credit and only the Primary's credit. Removing yourself as an authorized user, regardless of the status of the account, has NO effect on your credit score.
NO. IT wILL BE NOTED AS "A" FOR AUTHORIZED USER ON THAT persons credit file. it does does not increase or decrease your credit score. It should boost theirs in you pay the bill on time. JUDE KAGABINES LEXINGTON SC
If you are an authorized user of another persons credit it has no effect on your credit at all. It will not raise nor lower your score. The credit card company simple issues you a card with your name on it and then holds the person who holds the credit with them responsible for any charges you make.
No. The person who is the card holder is the person whose FICO score applies to. An authorized user/signer is in most cases not responsible for the debt, if the card holder defaults. Actually, it can effect your score if your talking about a joint account. Authorized users aren't responsible for accounts, thus no reporting of that account will appear on their credit bureau. If your wife has a bad account, late payment stuff like that. Then I would recommend not adding your name to her acccount. It will effect your score. But there will be no change to your score if you have her added to one of your accounts. Just make sure their good ones and everyone gets a boost.
It depends on if the account was good and helping your score or a bad account that was holding your account down. Removing a good account cold lower your score.
Your score will only be affected if the account is past due/derogatory. Otherwise you may see an increase in your score due to debt/income ratio becoming smaller. WHAT!?! to whomever answered this. An authorized user can use the account/card. They can also make payments to the account, but they are not required to make payments. These are the only things they can do. That being said, The Primary account holder is the responsible party. Anything that goes wrong or right with the account gets reported to the Primary's Credit and only the Primary's credit. Removing yourself as an authorized user, regardless of the status of the account, has NO effect on your credit score.
NO. IT wILL BE NOTED AS "A" FOR AUTHORIZED USER ON THAT persons credit file. it does does not increase or decrease your credit score. It should boost theirs in you pay the bill on time. JUDE KAGABINES LEXINGTON SC
You should continue to make min. payments on your account. If you don't, it will effect your credit rating and it is much harder to repair your credit than get a credit for the payment you made from the credit card company.It depends. You have a right to not pay for the disputed amount on your credit card. This is under the Fair Credit Reporting Act, I believe. They can not use this nonpayment to negatively affect your credit or your account. (I took a class on this in law school)However, if you already had a balance, you still need to make payments to cover that. Withholding payment only applies to the portion you are disputing.
Having a checking account has no effect on your credit score. Bouncing your checks has a big effect on your credit score.
If you are an authorized user of another persons credit it has no effect on your credit at all. It will not raise nor lower your score. The credit card company simple issues you a card with your name on it and then holds the person who holds the credit with them responsible for any charges you make.
No. The person who is the card holder is the person whose FICO score applies to. An authorized user/signer is in most cases not responsible for the debt, if the card holder defaults. Actually, it can effect your score if your talking about a joint account. Authorized users aren't responsible for accounts, thus no reporting of that account will appear on their credit bureau. If your wife has a bad account, late payment stuff like that. Then I would recommend not adding your name to her acccount. It will effect your score. But there will be no change to your score if you have her added to one of your accounts. Just make sure their good ones and everyone gets a boost.
If you have a chargeback, that is a credit to your account. This will not affect your credit score negatively or positively.
Yes. Any new credit account or loan will effect your rating.
Income from services rendered account will decrease and debtors account will increase
increase the balance of the liability account :)
Yes, this is only reported on your credit report if it is a collection account.