Adding someone as a joint card holder on my credit card?
I asked a question yesterday about this but I got more information. I recently added my husband as an authorized user on my credit card. I have had this card for over a year and I make payments monthly and have never been late on a payment. In order to help bring his credit score up I thought adding him as an authorized user would help but I guess it doesn't. So, today they sent me an email with an application for him to fill out so he can be added as a joint card holder to my current account. Does this mean he gets his own card but our spending limit stays the same? Also, this will help his credit correct? The lady I spoke with from the credit card company said yes this will reflect on his credit. I do all the shopping and bill paying so I am not worried at all about maxing out our credit cards. I am on top of every penny we spend and I also pay more than the minimum due each month. I just want to double check that adding him as a joint card holder will in fact help his credit score.
Can I hurt my wife by adding myself to her credit card if my credit score is low and hers if high?
I hope that I don't give you the wrong info, but... I agree with Merry. I learned from Suze Orman this info...... From what I understand that if your wife adds you to her credit, your credit does not affect her credit score. If she adds you to her credit as an authorized user then when her credit is reported to a credit agency it will also be reported to your credit account. When my kids were minors (teenagers) we added our kids to our credit cards as authorized users. We did get credit cards in the mail for them, but we just cut up their cards. When we paid our credit cards, it was also reported to our kids credit report as having credit. When my daughter turned 18 and she got her drivers license she wanted to buy a car. They ran her credit and she had excellent credit. They told her they never saw a person at her age with such a high credit score. My son bought a house at the age of 21 and the credit that was reported for him also helped him. Also, My daughter's husband had very bad credit so she added him to her credit cards about a year and a half ago. His credit score had jumped almost 200 points and has not affected her score. Going back to Suse Orman, she suggested parents add their kids to their credit cards so that when they want to go for that car or apt or house, this credit will help them, because kids at the age or 18 or 21 usually don't have any credit. It is then up to them to maintain that excellent credit. I hope this helps. Good Luck. (by the way, you might want to see if you can find any info on Suze Orman. The info we got about adding the kids to our credit cards, I read in one of her books. She is really good, and she explains everything in people terms that is easy to understand)
Does adding someone to a credit card as an authorized user help their credit?
For a while, the credit scoring company FICO was counting it as a positive thing if someone with no or a low credit score became an authorized user on a credit card of someone who had a high credit score. Thus, the common recommendation not too long ago was that parents consider making a college freshman an authorized user on one of their credit cards as a way to start off the teen's credit history on a high note. However, a few months back I saw a TV news report about companies that had set up solely to recruit people with good credit scores into opening an extra low-limit credit card. Then, the company would charge people with bad credit scores a monthly fee and then pay the people with good credit to put the bad credit strangers down as authorized users on their extra credit card, simply so the credit scores would go up for the bad credit people. (The company also wouldn't give out the card or the card number to the bad credit people directly, to reduce the chance of them running up charges that the good credit person would have to pay.) One guy in the news report had a credit score above 800, I believe, and had a credit card with 17 strangers as authorized users, and he was getting paid about $1000 a month or so, as I recall, just for letting people hitchhike on his good credit score. Needless to say, FICO was not happy about the rise of this kinda of scamming of their credit scoring system, and the news report back then was saying that FICO was planning on changing their rules to not make this feasible. I don't know what happened to the rule or what will happen to it, but I wouldn't count on adding your fiancee's name to your cards and/or yours to hers as a big boost to your scores. Probably not as big of a boost that you got by paying them all off and leaving the lines of credit open.
How do I cancel a joint Dillard's credit card: I was added as a joint holder without my knowledge or consent?
Several years ago one of my parents decided to add me onto their credit card as a joint holder. I'm only finding out about this now, because I'm reviewing one of my credit reports and see this account listed on my report. I was totally unaware that I was even a joint holder on this account. Plus, I never see in the mail any statements from the Dillard's credit card either, so I was in the dark about all of this for several years. So far the account is in good standing and there haven't been any late payments or any of that, but still, I don't want to risk being on this joint account that I don't even use and don't even have a card for it, so I don't even know the numbers or expiration dates on the card. Not that I don't trust my parent, but I don't want to take any risks. Is that even legal to have them put me on their credit card as a joint holder? I would have never agreed to do anything like this. How do I prevent something like this from happening again? They need my permission!
How to add my son an autherized user to my credit card ?
to increase his score so he get can a loan. He has no score at all because he just got his SSN because he just became a citizen at the age of 28. my q is WILL IT INCREASE HIS SCORE AFTER BEING ADDED AN AUTHORIZED USER?
If i add my brother to my first premier bank credit card as an authorized user will it help his score?
Their score will not affect yours at all as long as your bills are paid as agreed. The thing about authorized users is it depends on what the relationship is when it comes to how much help they will get. Back in 2008 F.I.C.O. changed the way they calculate authorized users scores, if the A.U. is either a spouse or a child they get the same credit for the account as the primary doe's, but if they are any other relation then those they still get some credit just not as much. If it's score alone that you doing this for, I would not actually give this family member the card. Remember authorized users have full access to your account and are not responsible for paying any of the debt Good luck whatever you decide.
Can I use my debit card to pay off my credit card?
If your debit card is attached to a checking account or current account, then you can pay your credit card from your account, but you would not be using your debit card to do so. In the U.S. you would use ACH to draft the account, and overseas you might be able to use its equivalent. It still drafts the money from your account, but not via the debit card network.If your “debit card” is attached to a pre-paid account or other type of account that does not allow ACH debits, then you would most likely not be able to pay the credit card from that account.So, to put it simply, you can pay your credit card from a checking account (which happens to have a debit card), but not a prepaid card.