What is a responsible use of credit?
Buying something on credit and making many payments on the account over months gradually paying down the debt. If you are seeking to build credit, then don't pay it all off too quickly as that doesn't establish a history of making payments. It takes at least 6 months of payments to even affect your credit report. Also, don't only pay minumim payments. You want to establish that you can be trusted and will not strecth yourself too thin.
Is an authorized credit card user responsible for credit card debt if the primary card holder declares bankruptcy?
No, they can't accept that their parents or one of them authorize that they can, and if they do they need to really check that their son or daughter is responsible enough for a credit card. 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.
Is a joint credit card account holder responsible for the entire debt when the other account holder dies?
Is it easier for a person with poor credit to refinance their house with the help of a cosigner who has excellent credit?
It can be easier if you use their credit by putting them on title on the home and use there credit, however they will be responsible for the loan and be on title as at least a part owner. If you use another persons credit to do a refinance, the other person must in most title states be put on title and will be responible for the loan even if you both sign which you…
If a credit card holder dies and authorized user is not responsible for the bill can the authorized user's credit be damaged for not paying the bill for which they are not responsible?
It depends on the fine print. If the credit card company determines that you received benefit from the use of the card, you can be held responsible for the charges. If the estate of the deceased has resources the card should have been paid off and terminated upon the death of the holder. Any use use of the card after the death of the cardholder most likely constitutes fraud, especially if the subsequent user did…
If your mother-in-law creates a credit card account for your wife when she was a minor is your wife responsible for the charges if she didn't use the card?
If your 19-year-old at college is authorized to use your credit card but not responsible for paying it why would it appear on his credit report?
If surviving spouse is insolvent is she responsible for credit card debt in Arizona a communty property state if her name was not on credit card and she never used credit card?
Spouse died and had credit cards in his name only will wife be responsible for paying creditors in Ohio?
What happens to your personal credit if you apply for a business credit card right after you buy a house?
If you have good credit then you should have no problem. As long as YOU know you can meet the mortgage payments and be responsible for paying off your credit card most credit card companies are more than happy to accommodate you. Also, be careful with applying with personal guaranteed business cards. Just because they are for business use you will still be responsible for it. Thus, that is still like any other personal credit…
No, you should not have to take out a credit card in your name for business use. Also, if you do this and something goes wrong with the company, YOU will be responsible for the credit debt. If the company wants to use credit cards, it should take them out itself and supply these business cards to its staff. However, a company can require you to accept responsibililty for a company credit card issued for…
Generally, the person that signed up for the credit card is responsible. If any users were added to the account, they are also responsible. This include joint accounts. You cannot inherit credit card debt. So, do not believe a collection agency when they tell you that. See the FDCPA for your rights in debt collection.
It can't be done. The only way to increase a personal credit score is to pay accounts in the manner agreed, do not exceed the credit limit and keep the debt to income to credit ratio at an acceptable level. Building or rebuilding a good credit score takes time and vigilant effort, generally 12 months of responsible credit use will improve credit scores.
Is a surviving spouse in Pennsylvania responsible for repayment of a credit card debt when his deceased wife was the authorized user on an account that was held by her deceased mother?
No. Only the account holder is responsible for repayment of debt incurred on a credit card. An authorized user is not responsible for repayment, but in this case if the now deceased AU continued to use the account after the death of her mother (the account holder), the AU's estate might be responsible for any charges made under such circumstances. In any event, the surviving spouse is NOT responsible to repay the CC debt.
In NY state are you responsible for credit debt when your father or mother pass away even if you are an authorized user?
I am in Oregon my Dad has died I am 23 and do not know what to do about his credit card debt Am I responsible I am in Oregon.?
In Rhode Island is the wife responsible for her husband's credit card if she is an authorized user of the credit card?
If he gives you permission, I'm sure it's alright, but you don't want to go to over-board and put him in dept. Show him that you are responsible enough to handle money and that you won't go buying everything just because you have the money for it. Buy little things, don't use all the money on his credit card, and you'll be responsible enough to prove to him that you can be a provider and…