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No, as an authoriezed user on someone else's card, any purchases you make goes on the primary cardholder's statement and his credit bureau file, not the authorized user's file

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โˆ™ 2012-07-20 03:31:02
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Please Evaluate this algebra expression -4 -3

Joe borrowed 8000 dollars on a one year note at 13 percent how much will joe owe when the note comes due

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1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year

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Q: Can removing yourself as an authorized user from a credit card account hurt your credit?
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Can your credit score be effected when you remove yourself from a credit card as an authorized user If so what is the best way to remove yourself as an authorized user?

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.

If you are removed as an authorized user on a credit card how does that effect your credit score?

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.

How do you drop an authorized user from your account?

You can call the lender and close that authorized user account. It no longer affects their credit anyway so there is no damage.

If you are specified as an authorized user on a credit card account that is not a joint account can your credit score increase?

No, only the primary cardholder's credit score is affected.

Can an account that has an authorized signatory be transferred to that person even though the account was initially in the other person's name?

No. The authorized user/signer will have to apply for an account using their own credit history.

If you are an authorized user on someone else's major credit card and the account isn't paid does it affect your credit as well?

It negatively affects both the primary and the authorized user credit score and report.

How does the authorized users credit impact the primary users credit?

When adding an authorized user to your account, you are agreeing to any and all charges that person places on the account. If the authorized user chooses to abuse the account, such as making purchases beyond the amount that you are able to pay or by exceeding the limit of the card, the negative effects goes against the primary users credit. The authorized users credit is not affected at all and they are not responsible for payments. So be careful who you chose to add to your card.

If you are an authorized user on a credit card and the holder files bankruptcy are you responsible for their balance?

No, authorized users are not responsible for debt incurred on such an account.

What are the community property state credit laws on authorized user on credit card?

an authorized user is someone who has been given consent by the owner of the account to use it and morally should pay for what they purchase but will not be financially responsible to do so even tho the creditor can and probably will report the account to both the owner and the authorized users credit profiles with the credit reporting agencies.

Will removing an authorized account that has a high balance raise the fico score of the authorized user?

It depends. Does the high balance put the consumer into a position of too much credit? Does this single high balance cause the consumer to have outstanding $100,000 in credit card debt? Or does the amount merely allow for the consumer to show that they can be responsible with making regular payments (with this account being the only debt owed.)

If your husband is the primary card holder does that give you credit history in a joint account?

Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.

If you are a authorized user on a credit card and the primary holder is not paying the bill can the authorized user be held responsible?

No. Authorized Users are NOT liable for the debt, only the PRIMARY on the account is liable.

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