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No. AU's are not legally responsible for the debt.

2006-08-23 17:13:58
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Can a credit card company report bad credit on an authorized user's credit report after the death of the primary card holder?

if you are an authorized user on the card then you are responsible for the card too. so yes they can

If you have a credit card only in your name will it affect or show on your husbands credit report?

No, only the owner and authorized users of the credit card will be reported on the credit card company to the credit agencies. If your husband is an authorized user on the credit card then it will show up on his credit report.

Can a credit card company take money from your debit card?

Only if you have authorized them to do so.

How much would it raise your credit scores if you were added as an authorized user on a credit card?

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.

Is it legal to use another persons credit card?

If they have granted permission. Ideally they'd contact the credit card company to add you as an authorized user.

Are you liable for the amount you signed for or the full balance on a credit card if you are an authorized user only?

If you're only an authorized user on a credit card, you don't directly owe anything as far as the credit company is concerned. However, you can still be sued by the individual who has the card account.

What is the journal entry in the increase of authorized capital stock?

debit Unissued Common Stock credit Authorized Common Stock

Does the credit score of an authorized user on your credit card affect your credit score?

No, the credit score of the authorized user will not affect the main cardholders credit score but the authorized users score can be affected as you can see

If your spouse files for Chapter 7 and you are an authorized user of her credit cards are you responsible too?

An authorized user is never responsible for credit card debt. However, if the married couple live in a community property state they are in general terms both equally responsible for all debts.

If an authorized user on a credit card transfered balances to that card and the primary user of the card files for chapter 7 will the authorized user still have to pay or will the debt be fully wiped?

I'm trying to follow what your really saying: Presumably there is a "primary" ...that would be the one who applied for the credit and signed the agreements to pay the charges. That person requested a card for another person to use, under the primaries credit agreement, and agreed to be responsible for the charges that person made...the credit card company went along with this request...but it was NOT extending any credit, or even had any type of agreement with this other authorized signer. All charges by that person are the responsibility of the primary...the debt from using the card is not to the second (authorized) person...and any debt (if there is one you can prove), would be by the authorized user to the primary...if they had an agreement that the authorized would pay for any use. The primary would be a creditor of the authorized in that bankruptcy. The credit card company isn't a part of it...the debt remains with the primary...regardless of any payment or not he gets from the authorized party or their bankrutcy. And alternatively, if the authorized person made charges and the primary goes BK, that charges are part of the primaries BK, (and may be discharged). Again, if there is an agreement that the authorized would pay those charges, that "receivable" or asset to the Primary must be reported as such in his BK filing.

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.

How do I remove myself as an authorized user on a credit card?

Contact the credit card company. Usually they will close that account completely and move to a new card for the remaining member.

What do you do with items on your credit report that show you as an authorized user and you are not anymore?

Notify the company that has the listing, and tell them you are no longer a user on the card.

How can your wife fix her credit if you're filing Chapter 7 but she is not however she was an authorized user on four of your cards and the charge offs are showing up on her credit which was perfect?

Your wife, as an authorized user, is not liable for those debts. Have your wife's name removed from the accounts. Wait at least 30 days and then she can try disputing those tradelines with the credit bureaus.

Can a credit card company make you a joint user instead of an authorized user if you did not sign any papers?

Absolutely not. If that's what happened, talk to a supervisor at the company and have it changed.

Are vendors guaranteed payment selling a company in Chapter 11 Bankruptcy?

No, but generally they receive higher preference than unsecured creditors that issued credit prior to the bankruptcy, should the chapter 11 company go to chapter 7.

How long after an authorized user can you get your own credit card?

Being an authorized user no longer has an impact on your credit score like it used to. In the past, you were able to be added as an authorized user on a credit card, and all of the credit history and credit limit would be reported on your credit report as if it was your credit effectively obtaining unearned credit for the authorized individual. A few years ago the credit reporting industry changed, and no longer recognize an authorized user as credit responsible and therefore it has little to no impact on your credit score. If you would like to obtain credit from this card, contact the card issuer and request to be added as a joint user. If you are jointly responsible for the credit, it will report to the bureaus and impact your score. Approval is still required, but it is typically easier to be approved when you are already and authorized user on a card.

Can a teenager under 18 use a parent's or sibling's credit card?

NO. The credit card company won't allow that to happen. It is illegal for ANYONE who is not the card holder, named on the card, to sign for goods purchased with the card. Expanding on the above answer: A minor may be able to use an adult's credit card if the credit card owner has officially authorized the minor to use it. This would require the adult to contact the credit card company to document the minor as an authorized user, because rules/regulations vary by company. Without this formal step, the first response holds true: it would be illegal.

Do you lose credit point when credit check?

If it was unsolicited (e.g. a credit card company looking into your finances to evaluate whether to offer you a card) then no. If it was authorized (e.g. your applying for credit, applying for a loan) then yes, this can negatively impact your FICO score.

Can you get a credit card under the age of 18?

No, they can't accept that the credit card company can make the rule to change. A minor may be able to use an adult's credit card if the credit card owner has officially authorized the minor to use it.

When will being removed as an authorized user show up on your credit report?

In general, those becoming "authorized users" will not have changes made to their credit report unless (1) they become an authorized user of a company card and that company requires employees to take personal responsibility for charges or (2) they become a joint account holder, making them responsible for all charges. So, if one falls into one of the above camps, the time varies based on the frequency with which the issuer chooses to inform the credit bureaus. Because "authorized user" status does NOT change the liability of the account holder, these types of credit report transactions are not priorities and may take place a few times per year. Wait three (3) months and re-review your credit reports. If the "authorized user" does not disappear, dispute the tradeline with the appropriate credit bureau.

If my mother is an authorized user on my credit card and she is currently in the process of foreclosure would her foreclosure as an AU affect your credit?

No, having her listed as an authorized user will have no impact on your credit score.

Credit One bank wants a letter from my bank to show that i am an authorized signer on an account that i use to pay the credit card with my bank says they don't do letters what do i do?

Send them a "copy only" of your credit card agreement that you got from the credit card company that won't do it for you.

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.

Will adding an authorized user with bad credit to your credit card effect your credit rating?

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