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Answered 2007-05-31 23:34:19

The reason you still do not have a FICO is because your credit was not used to apporve the application you are just a user much like a 17yr old uses a parents credit card being a user just means the card has your name on it not that your information was used to approved the credit card in most cases the company does not even have your S.S#

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What does your credit score have to be to get a credit card?

This completely depends on the bank you are going to and their guidelines. Currently, most banks are turning people down with credit score below 660. If your score is not high enough, one of my favorite ways to boost a person's credit card score is to teach them about the magic of authorized users. Authorized usersare people who have permission to use other people's credit cards. For instance, your husband might have a Citi card. His name, and his credit score, was used to apply for the account, but you have permission to use the account.Becoming an authorized user is a powerful way to boost your credit score because you get to borrow the account holder's good credit history. If you are an authorized user on a credit card in good standing, your credit score will reflect the credit card's positive payment history by increasing. Beware, though: If you are an authorized user on a credit card in poor standing, your credit score will reflect the credit card's negative payment history by dropping.


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 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.


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.


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.


Can I Boost credit score with parents credit card as an authorized user?

No, authorized users should not report to the credit bureaus since they are not legally resposible for the debt incurred with the credit card. It will not have any impact on your credit score since authorized users are not reported.


If things drop off your credit report how does that effect credit score?

Depends on what they are. If they are derogatory items, then dropping off will raise your score. If they are positive items (e.g.- an account in good standing), then they will lower your 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 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.


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.


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.


If you allow someone with poor credit history to be an authorized user on your credit card will it lower your credit score due to their poor history?

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.


What does an Equifax credit score of 746 mean?

It means your credit is in "Excellent Standing"


Will being an authorized user on your moms discover card help your credit score?

No.


What is the difference between free credit report and credit score?

A free credit report is a list of your debt history. It shows all of your personal information, creditors, account balances, and paid-off balances. A credit score is basically just a rating given to you by credit card companies to show your standing with them.


How will it affect your credit score if lender requires you to have checking account so they can withdraw payments from each month?

Having a checking account has no effect on your credit score. Bouncing your checks has a big effect on your credit score.


How do collection accounts affect your credit score?

== == Collection account are 20% of the total credit score module.


Will a chargeback effect fica score?

If you have a chargeback, that is a credit to your account. This will not affect your credit score negatively or positively.


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.


Is 701 a good credit score?

yes, its in good standing.


Can paying off a credit card damage your credit score?

No, only if the account is a paid closed account. What affects your score is utilization of your credit limit, which should only be about 25 to 35%.


If your wife has a lower FICO score will adding her as an authorized user or joint account holder have a negative effect on your FICO score?

No. The person who is the card holder is the person whose FICO score applies to. An authorized user/signer is in most cases not responsible for the debt, if the card holder defaults. Actually, it can effect your score if your talking about a joint account. Authorized users aren't responsible for accounts, thus no reporting of that account will appear on their credit bureau. If your wife has a bad account, late payment stuff like that. Then I would recommend not adding your name to her acccount. It will effect your score. But there will be no change to your score if you have her added to one of your accounts. Just make sure their good ones and everyone gets a boost.


What type of credit card to become an authorized user to help raise credit score?

Having an authorized user card does not help the authorized user's credit bureau score. ie) if I had good credit and I gave someone an authorized user card, that person's purchases would be on my statement and I would be responsible for the other person's purchases. If I don't pay for the other person's purchases, it would reflect on my credit bureau negatively as not paying on time and be charged interest.


If you are in good standing in your credit report what credit score do you have?

Scores of 700 or above suggest a decent credit report.


Does closing a cedit card by the consumer affect their credit negatively?

Closing an account will affect your credit score and decrease your score.