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Can a secondary card holder's credit rating hurt the primary card holders credit?
Wiki User
∙ 13y ago
No. The secondary cardholder's credit history has nothing to do with the primary cardholder's. The reason for this is even if there are two cards, there is still only one account for both cards which the primary cardholder is responsible.
Jags
Wiki User
∙ 13y ago
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If you are not the primary person on the mortgage is you credit rating affected?
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
If you have been given a credit card as a secondary card holder and have bad credit will this help rebuild your credit or is it all reported on the primary cardholder history?
Secondary credit cards are a very BAD idea ! Responsible usage of the card remains the 'problem' of the primary account-holder. If YOU misuse the card - THEY take the consequences ! If you fail to make payments on time (or miss a payment) - THEIR credit rating suffers ! Most credit card companies will issue cards to people with bad credit history - they just charge a higher interest rate, and give you a low credit limit. Once you prove you can be responsible with the account (by making the payments on-time and staying within your credit limit) - they'll usually lower the interest rate, and increase your limit.
Do Joint Credit Cards Help Build Good Credit?
Joint credit cards can work both ways. Since the credit card account is placed on both holders' credit accounts, the activity on the card as a whole affects both parties equally. So, if the card is maintained properly, it can help improve credit. However, if one of the card holders abuses the card and ranks up thousands of dollars in debt, it can adversely affect the other holder's credit rating.
What does the bond credit rating assess?
Bond credit rating is used to assess the credit worthiness of a corporation or government's debt issues. A bond credit rating is similar to a credit rating that an individual person receives.
Dose it hurt your credit if a cosigner files bankruptcy on there car?
If you have co-signed and the primary borrower has defaulted, you will need to step up and pay. If not then it will hurt your credit rating.
If you are not the primary person on the mortgage is you credit rating affected?
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
What is impedance voltage in a transformer?
Power transformers have an impedance (Z) rating that is listed in %. So the nameplate might state 5% Z for example. What this means is that when the secondary conductors are bolted together then 5% of the rated primary voltage is applied and will generate 100% current in flow in the secondary. Example: you have a 75KVA Delta-Wye 5% Z transformer with a 480V primary rating and 208/12 secondary rating. The amp rating of the secondary is 208A [75,000/(1.732x208)] So if you applied 24VAC to the primary with the secondary bolted together with busbar then you would have 208A of current flow.
If the primary creditor defaults on credit card will the secondary's credit rating be affected if they're not spouses?
Credit scores are kept separate, unless the account in default is a joint account. However, if you are a co-signer you will be contacted about the debt. If you are unable to pay or cannot negotiate a settlement. It will turn up on your credit report.
If your daughter's car is in your name and she is not paying can you let it get repossessed without ruining you and your spouse's credit rating?
No. You are the primary borrower, and it will be entered as a repo. on your credit report.
If you have been given a credit card as a secondary card holder and have bad credit will this help rebuild your credit or is it all reported on the primary cardholder history?
Secondary credit cards are a very BAD idea ! Responsible usage of the card remains the 'problem' of the primary account-holder. If YOU misuse the card - THEY take the consequences ! If you fail to make payments on time (or miss a payment) - THEIR credit rating suffers ! Most credit card companies will issue cards to people with bad credit history - they just charge a higher interest rate, and give you a low credit limit. Once you prove you can be responsible with the account (by making the payments on-time and staying within your credit limit) - they'll usually lower the interest rate, and increase your limit.
How do you calculate current flow transformer when 240 Vrms is supply?
The secondary current of a transformer is determined by the load and the secondary voltage applied to that load, and this, in turn, will determine the primary current by the inverse of the turns ratio. However, if you are asking about a transformer's rated secondary and primary currents, then you need to divide the transformer's apparent power rating (expressed in volt amperes) by the rated secondary and primary voltages respectively.
Do Joint Credit Cards Help Build Good Credit?
Joint credit cards can work both ways. Since the credit card account is placed on both holders' credit accounts, the activity on the card as a whole affects both parties equally. So, if the card is maintained properly, it can help improve credit. However, if one of the card holders abuses the card and ranks up thousands of dollars in debt, it can adversely affect the other holder's credit rating.
Does a 17 year old's credit rating increase if he cosigns a credit card with a parent. Does it matter if he is primary or the cosigner?
From what I understand any credit activities on a minor's name is illegal. You must be 18 to establish credit.
Which among these is a credit rating agency?
Which among these is a credit rating ?
What does the bond credit rating assess?
Bond credit rating is used to assess the credit worthiness of a corporation or government's debt issues. A bond credit rating is similar to a credit rating that an individual person receives.
Dose it hurt your credit if a cosigner files bankruptcy on there car?
If you have co-signed and the primary borrower has defaulted, you will need to step up and pay. If not then it will hurt your credit rating.
You are secondary on car loan does that help your credit?
Yes. If you co-sign on a auto loan, payments that are made on time being reported to the credit bureas are considered positive and it also reflects a positive impact on your credit rating.
