Effect on Credit Report from Applying For a New Credit Card
Author: Question38
Posted: Fri Jul 02, 2004 7:01 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
6/30/2002 2:40 pm CDT
Hello,
I was wondering when applying additional card (authorized user) and a SSN wasn't necessary or supplied for the new authorized user. How does that reflect on the person's credit report (if possible at all) or mine?
I asked a credit card company, they said they would report it, but didn't know how really (they suggested maybe through matching name and birthday?!).
Also, I requested additional card (authorized user) on AMEX and they send a new card with misspelled name so I had to request a new card. They said another new card number was necessary for security purpose, but I could still use the original mispelled card before the new one arrives. Any comments on this as far as how will the reporting goes?
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Author: Ira Stoller
Posted: Fri Jul 02, 2004 7:02 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
6/30/2002 9:03 pm CDT
An authorized user is the same as if you handed your card to someone and said, "Here's MY card - use it as you see fit." You, not the authorized user, are responsible for payments to the account, making sure that all charges are within your credit limit, etc. The statements come to you and there is no differentiation on the statement between your charges and those of your authorized user.
Bottom line: be VERY careful when making someone an authorized user on your card. Know that person better than very well. It could end a friendship if you have to insist that the other person pays their own way and they refuse.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: nobody
Posted: Fri Jul 02, 2004 7:02 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
7/1/2002 1:39 pm CDT
I think the poster was asking how being an authorized user affects the authorized users credit report.
Author: Lisa
Posted: Fri Jul 02, 2004 7:03 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
7/9/2002 6:20 pm CDT
The authorized user reaps the good/bad credit from the primary cardholder. True the auth use is not responsable for payment but they do get the credit from you (the primary)
It will show on their credit, as a positive if you are current and as a negative if you past due. It does not show as an inquiry on their credit. If for any reason the primary fails to make payment and it starts to show as a negative on their credit report they can dispute it as "I was only authorized to use the account, I did not apply for the account and it is not mine" at which time this would be confirmed by the issuer and it would then be removed or deleted from the authorized users credit profile.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Fri Jul 02, 2004 7:01 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
6/30/2002 2:40 pm CDT
Hello,
I was wondering when applying additional card (authorized user) and a SSN wasn't necessary or supplied for the new authorized user. How does that reflect on the person's credit report (if possible at all) or mine?
I asked a credit card company, they said they would report it, but didn't know how really (they suggested maybe through matching name and birthday?!).
Also, I requested additional card (authorized user) on AMEX and they send a new card with misspelled name so I had to request a new card. They said another new card number was necessary for security purpose, but I could still use the original mispelled card before the new one arrives. Any comments on this as far as how will the reporting goes?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ira Stoller
Posted: Fri Jul 02, 2004 7:02 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
6/30/2002 9:03 pm CDT
An authorized user is the same as if you handed your card to someone and said, "Here's MY card - use it as you see fit." You, not the authorized user, are responsible for payments to the account, making sure that all charges are within your credit limit, etc. The statements come to you and there is no differentiation on the statement between your charges and those of your authorized user.
Bottom line: be VERY careful when making someone an authorized user on your card. Know that person better than very well. It could end a friendship if you have to insist that the other person pays their own way and they refuse.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: nobody
Posted: Fri Jul 02, 2004 7:02 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
7/1/2002 1:39 pm CDT
I think the poster was asking how being an authorized user affects the authorized users credit report.
Author: Lisa
Posted: Fri Jul 02, 2004 7:03 am
Post subject: Effect on Credit Report from Applying For a New Credit Card
7/9/2002 6:20 pm CDT
The authorized user reaps the good/bad credit from the primary cardholder. True the auth use is not responsable for payment but they do get the credit from you (the primary)
It will show on their credit, as a positive if you are current and as a negative if you past due. It does not show as an inquiry on their credit. If for any reason the primary fails to make payment and it starts to show as a negative on their credit report they can dispute it as "I was only authorized to use the account, I did not apply for the account and it is not mine" at which time this would be confirmed by the issuer and it would then be removed or deleted from the authorized users credit profile.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:07 PM
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