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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?
Wiki User
∙ 15y ago
It negatively affects both the primary and the authorized user credit score and report.
Wiki User
∙ 15y ago
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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 creditcardideas.com/blog/adding-an-authorized-user-to-increase-credit-scores
Can removing yourself as an authorized user from a credit card account hurt your credit?
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
If someone files for bankruptcy and another person is linked to one of their credit cards will it affect that other persons credit?
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.
If someone adds you to their credit cards to help lengthen your credit history does their high credit limit effect your ability to get more credit or loans in your own name?
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.
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.
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 creditcardideas.com/blog/adding-an-authorized-user-to-increase-credit-scores
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.
Can removing yourself as an authorized user from a credit card account hurt your credit?
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
If someone files for bankruptcy and another person is linked to one of their credit cards will it affect that other persons credit?
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.
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.
If you are an authorized user on your parents credit card and they claim bankruptcy how will that affect your credit?
It will not affect your credit at all. Their credit information was used to secure the card. You are in the clear.
If someone adds you to their credit cards to help lengthen your credit history does their high credit limit effect your ability to get more credit or loans in your own name?
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.
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.
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.
What can you do if you were an authorized user on a credit account and the main cardholder stopped paying and now your credit score has been lowered because the delinquency was reported on your credit?
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.
Becoming an Authorized User: A Credit Card Option for College Students?
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.
