It negatively affects both the primary and the authorized user credit score and report.
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 creditcardideas.com/blog/adding-an-authorized-user-to-increase-credit-scores
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.
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
You can call the lender and close that authorized user account. It no longer affects their credit anyway so there is no damage.
No, only the primary cardholder's credit score is affected.
Not really, if Person B is just a person who received an additional card with access to that account. Person A is the person's whose credit is on the line for the account. Person B is in no way liable for the account because Person B is not part of the credit card agreement. The bankruptcy will not affect person B. Now the reason I say "not really" is because that account will be closed and Person B will no longer receive the benefit of having this account on their credit report as an authorized user. There may be a slight decrease but only from the general closure of an account.
It will not affect your credit at all. Their credit information was used to secure the card. You are in the clear.
No, having her listed as an authorized user will have no impact on your credit score.
No. The authorized user/signer will have to apply for an account using their own credit history.
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 someone places you as a secondary user on their credit cards, it does not affect your credit in any way whatsoever. It simply places more liability on the credit card owner, and in some cases can raise their interest rates, or cause them to incur an additional charge for having more than one authorized user on the account. Basically, being a secondary user on a credit card does not affect your credit at all. This practice is sometimes referred to as "piggybacking" off of another consumer's good account. Prior to 2008, you could actually benefit by getting listed as an authorized user on some credit accounts, so long as the primary cardholder kept the account in good standing. This practice came to a halt as a result of lender demands to help avoid abuses related to piggybacking.
There's a difference between an authorized user and a joint account holder. If you were simply an authorized user, meaning that the other person is soley responsible for the account and you only have a card in your name, then the delinquency shouldn't be showing up on your credit at all. You aren't the holder of the account. If this is the case, you need to immediately file a dispute claim with the agenicies reporting the delinquency; they, then, must investigate and tell you the outcome of the investigation. If, however, you are a joint holder, meaning your name is listed as someone financially responsible for the account, then the only way to correct the credit score is to pay the account and be patient.
Many college students have no credit, or a limited credit history. Fortunately, there is a way for college students to obtain a credit card and build their credit. For instance, if your parents have good credit, perhaps they can add you to their credit card account as an authorized user. As an authorized user, you can enjoy the ease and flexibility of using a credit card. Read on to learn more about becoming an authorized user, so you can get the credit that you need.Is it easy to become an authorized user?Yes, it is rather simple to become an authorized user on your parents credit card account. However, your parents may not be able to add you to their account if they have a poor payment history with that credit card issuer, or if they are currently over their spending limit on that particular account. Your parents can simply contact the customer service department for that credit card issuer to begin the process. In most instances, you can become an authorized user in a matter of minutes.What information do my parents need in order to add me as an authorized user?Your parents may be required to give the credit card issuer your full legal name, Social Security number, date of birth, drivers license number (or state identification card number), your contact details, and your employment and income information.Am I required to make payments if I am an authorized user?No, authorized users are not legally required to make payments to the credit card issuer. However, your parents may ask you to make payments directly to them whenever you use the card. Be sure to discuss this information with your parents prior to becoming an authorized user on their account.Will my parents payment history affect my credit score?Yes, if you are listed as an authorized user on your parents credit card account, their payment history will appear on your credit reports. So, if your parents make timely payments on their account, this can boost your credit score. However, if your parents default on their credit card account, it can have a negative impact on your credit history.Will I have my own credit card to shop with?Yes, for your convenience, your parents can request the credit card issuer to send them a card in your name. Please note that your parents may establish a spending limit for you on their account.How long can I remain an authorized user on the account?Generally speaking, you are allowed to remain an authorized user on someones account for as long as you like (or until that person removes you from that account).If your parents add you to their credit card account, it is important that you follow their rules and use your credit card wisely. Your parents are legally responsible for paying the credit card bill, so do not take advantage of the situation. And in a matter of time, you may be able to obtain a credit card on your own.
I was a authorized user on one of my exwifes accounts and did not realize it. I noticed my credit score was going down steadily and was not sure why. Then it made a big plunge so I checked my credit report and fiqured out I was a authorized user on one of her accounts that she had stopped paying on.I called the company and at first they would not take my name off of the account saying it would have to be settled first. I argued with them how could I be responsible for something I don't even see a statement on. It took several calls but I finally reached someone who saw my side of the story. They had trouble deleting my name from the account and had to get a supervisor involded to get me removed. My credit score jumped by more than a 100 points the next month. EDIT: This would have been a good response if the question was "Will my credit be affected if I am added as an authorized user". I think the person answering the original question got the authorized user and account holder in reverse. The answer below is correctly answers the question without confusion. Also...a couple of credit card issuers have policies that hold Authorized Users responsible for their actions and safeguard the Primary Account holders credit file. Credit scores are not affected by the actions of an authorized user. Neither can an AU be held legally responsible for the account regardless of what they may be told by the card issuer. The premise being that an AU has no control over how the account is handled as they do not have access to payment of the account or other issues such as increasing the credit line.
No, authorized users are not responsible for debt incurred on such an account.
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.
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.
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.
No. Authorized Users are NOT liable for the debt, only the PRIMARY on the account is liable.
No, the only thing that would affect their credit is the joint account, so just make all the payments on time.
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, if the wife is not an authorized user on the credit card then it does not affect the wife's credit report. So the late payment will only be on the husband credit report.
When you get a card you can request to have another user on your card, they will get there own card, but it will be under your credit card. (Example: my hubby has a credit card and I'm an authorized user, so I have a card with the same acct number.) added note:- 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.
An authorized user on a credit card can be responsible on an account in which the primary card holder passes. The creditor looks at the situation as the authorized card holder was able to make purchases with the account, and should be held liable, even in the event of the primary's death.
The ex could have been an authorized user on the account or a co-borrower. If you are the primary user and the ex was only an authorized user, you can call and have them removed.