Additional User on My Credit Card
Author: carduser
Posted: Wed Jul 14, 2004 5:29 pm
Post subject: Additional user for my credit card
I need help you guys.
See my situation right now is that I added my father as an additioanl user for my visa card. Now I have used up all my limit and making just monthly payments. I didn't realize that all this is going to show up on my dad's credit report too. Now, since I've been making late payments, it's going to hurt my dad and my credit. Is there any way that I could save my dad's credit?..could i just take him off on the additional user list and everything's going to be deleted?
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Author: Polonius
Posted: Thu Jul 15, 2004 11:00 am
Post subject:
You certainly can take off anyone you put on as an authorized user. Just call and do that.
But are you sure your Dad's credit is affected? Have him check his credit report and credit score. I don't know much about how authorized users are treated. I DO know that the available credit is part of the computations for the authorized user's score--but I don't know whether or not problems with the account affect the authorized user, since only the person who was issued the card is responsible for making the payments.
Hopefully some of the real experts here can help with that question!
Author: mouse
Posted: Thu Jul 15, 2004 4:05 pm
Post subject: Re: Additional user for my credit card
carduser wrote:
I need help you guys.
See my situation right now is that I added my father as an additioanl user for my visa card. Now I have used up all my limit and making just monthly payments. I didn't realize that all this is going to show up on my dad's credit report too. Now, since I've been making late payments, it's going to hurt my dad and my credit. Is there any way that I could save my dad's credit?..could i just take him off on the additional user list and everything's going to be deleted?
I need help!
Have him removed from the account.
99% chance it WON'T disappear all by itself...Have him contact the CRA's (not mine)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: puck71
Posted: Wed Jul 21, 2004 9:18 pm
Post subject: Tips for Additional User on Credit Card
If he is an authorized user, there should be exactly zero effect on his credit rating. He is authorized to use the card, but is not financially responsible for it in any way. That is if he is the authorized user, and not the co-applicant and/or co-signer. In those cases he probably would be help responsible.
author: NightStar
Posted: Wed Jul 21, 2004 9:26 pm
Post subject: Tips for Additional User on Credit Card
Authorized user accounts, correct you are that he is not responsible, but it still affects the credit score, just as if it was his account.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Wed Jul 14, 2004 5:29 pm
Post subject: Additional user for my credit card
I need help you guys.
See my situation right now is that I added my father as an additioanl user for my visa card. Now I have used up all my limit and making just monthly payments. I didn't realize that all this is going to show up on my dad's credit report too. Now, since I've been making late payments, it's going to hurt my dad and my credit. Is there any way that I could save my dad's credit?..could i just take him off on the additional user list and everything's going to be deleted?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Polonius
Posted: Thu Jul 15, 2004 11:00 am
Post subject:
You certainly can take off anyone you put on as an authorized user. Just call and do that.
But are you sure your Dad's credit is affected? Have him check his credit report and credit score. I don't know much about how authorized users are treated. I DO know that the available credit is part of the computations for the authorized user's score--but I don't know whether or not problems with the account affect the authorized user, since only the person who was issued the card is responsible for making the payments.
Hopefully some of the real experts here can help with that question!
Author: mouse
Posted: Thu Jul 15, 2004 4:05 pm
Post subject: Re: Additional user for my credit card
carduser wrote:
I need help you guys.
See my situation right now is that I added my father as an additioanl user for my visa card. Now I have used up all my limit and making just monthly payments. I didn't realize that all this is going to show up on my dad's credit report too. Now, since I've been making late payments, it's going to hurt my dad and my credit. Is there any way that I could save my dad's credit?..could i just take him off on the additional user list and everything's going to be deleted?
I need help!
Have him removed from the account.
99% chance it WON'T disappear all by itself...Have him contact the CRA's (not mine)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: puck71
Posted: Wed Jul 21, 2004 9:18 pm
Post subject: Tips for Additional User on Credit Card
If he is an authorized user, there should be exactly zero effect on his credit rating. He is authorized to use the card, but is not financially responsible for it in any way. That is if he is the authorized user, and not the co-applicant and/or co-signer. In those cases he probably would be help responsible.
author: NightStar
Posted: Wed Jul 21, 2004 9:26 pm
Post subject: Tips for Additional User on Credit Card
Authorized user accounts, correct you are that he is not responsible, but it still affects the credit score, just as if it was his account.
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 10:10 PM
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