Authorized user..

Discussion in 'Credit Talk' started by KHM, Oct 24, 2001.

  1. KHM

    KHM Well-Known Member

    My hubby has rotten credit I believe his score is a 487. He has 5 negative accts. they total MAYBE $2000 (all of them are paid and they were all medical bills). The only positive line he has, is the overdaft on our checking acct. I have 3 CC's that I have never been late on, if I call and ask them to put him on will that make my interest rates go up? If I put him on should he be on as an authorized user or should I put him on as joint? Will this help him?
  2. sam

    sam Well-Known Member

    put him on as authorized user only.

    Then dispute his reports. Tell him to get a secured card from cap1 or something. And start reading this board.

    To add someone as joint, they must qualify as you did, and quite frankly a 487 isn't going to cut it.

    Your rates should not be affected by an authorized, but could be by "joint".
  3. KristyW

    KristyW Well-Known Member

    It won't affect your credit/interest rate if you get a joint card with him. Authorized users are not technically supposed to have these trades reported on their credit reports, but it happens all the time. To be sure to have it reported make him a joint user. If they won't let him on your card (for whatever reason) get a new card.
  4. KHM

    KHM Well-Known Member

    I have disputed and disputed, the one thing I forgot is the card that I have had the longest is with Providian and my hubby has a PAID charge off with them. (he just paid it off in August) I'm gonna try it. It can't hurt any.
    KHM Thanks guys!
  5. Cadillac408

    Cadillac408 Well-Known Member

    I beg to differ a little bit. I feel that if he is a joint user on your account it will affect your interest rates (with some banks, Citibank to name one). They did it to me and it was an individual account. I called for a rate reduction and I got it. Then AFTER peeking at my TU report, they raised it BACK UP and stated it was due to the negative information on there. So if they can see an individual account holder's information, I'm sure they can see a joint account holder's information. You're safest bet is to add him on as an authorized user. As far as the trade being reported on an authorized users report...why is it that *technically* it's not supposed to be reported? Is it because they are not legally responsible for the account? Elaborate please...I'm totally curious.
  6. KHM

    KHM Well-Known Member

    I just got off the phone with them and I added my hubby as an authorized user. They never asked for his SSN#, but the woman told me 'they' have ways to put it on his CR. This I know is true, they put one of my hubbys charge-offs on MY CR cause *I* called to pay it off. I disputed and got it taken off, but the woman said it WILL show up on his CR.
  7. sam

    sam Well-Known Member

    you don't need a ssn to post (positive/negative) info

    just name and address.
  8. KristyW

    KristyW Well-Known Member


    You are right in that if you are late on one card, you might get interest rate increases on your other cards. However, in this situation, as long as her credit is fine, that shouldn't happen to her other cards, although, it might change the interest on this card. Her other credit card companies will only be pulling her credit. In my experience, though, I had a family member on a joint credit card (who had lousy credit) and it didn't affect this card or my other ones. Each bank is different, though, the scum bags.

    Maybe the best solution is to open another credit card as joint just to get the credit. If she pays off the balance each month (and keeps the balance low enough to be able to do this) the interest rate won't matter.

    The other suggestion offered in this thread for hubby to get a secured card is a winner as well as disputing the other trades.
  9. KristyW

    KristyW Well-Known Member

    As far as the authorized user being reported on the trade - it is not "legal" for the CRAs to do this if you are not responsible for the account. I know that, as has been pointed out here, they will try to do it, and lots of times they succeed. Since you are not responsible for the charges as an authorized user, you can't have this on your credit report. If you are able to prove it to the CRAs, they will remove it. Sometimes getting the proof is the sticky part. I've had lots of readers pull trades off of their credit report because they were only authorized users.
  10. Cadillac408

    Cadillac408 Well-Known Member

    If it is not leagal for them to do this, then why do they have a code (either 'A' or 'U'???) for this? And why is an AU trade factored into your FICO then??? Some people argue that it's NOT but I suspect that it is.
  11. Mirage

    Mirage Well-Known Member

    My guess is that being authorized user does figure into the FICO score. I pulled my Beacon at the end of Sept. and the score was 688, yesterday the score was 670. I am a au on a Discvoer card and the primary user charged up to max limit with a big purhcase. So my debt ratio shot up.

    Best regards,
  12. KristyW

    KristyW Well-Known Member

    Well, according to my interpretation of the FCRA:

    According to section 603 of the FCRA, the way I interpret it, only information on
    credit issued to a consumer is allowed. If you are an authorized user, you do not fall under these categories, you are not responsible for the debt and did not receive credit. An authorized user doesn't have credit on this account and it's only the signor that is responsible. So, in essence, if an account on which you are an authorized user shows up on your report, it would be someone else's credit (the signor on the account). I've had lots of readers successfully challenge this to both the creditors and the bureaus and have accounts in which they were authorized users removed.

    Here's the specific text:

    An authorized user doesn't need to match any credit criteria, no continue to, so they should not be reported per section 603 . The fact that the credit bureaus have a code for this doesn't mean anything to me, you know how closely they follow the law. LOL!
  13. KristyW

    KristyW Well-Known Member

    Yes, the credit card companies will try and put you on the credit reports when you are only an authorized user, this is SO common!! It is tough to get a straight answer out of them if you ask them if you are a joint user or an authorized user - if you've ever tried, to do this, you will know what I mean. Sometimes they will even report you as joint when you are only an authorized user. This happens lots, too.
  14. Cadillac408

    Cadillac408 Well-Known Member

    Thanks for the clarification Kristy!

    I was successful in getting a trade on my report that was a chargeoff removed as well. My ex put me on as AU on his GM Card. When he gave me the card, I cut it up and never activated it. Then it appeard on my reports. I called the number on my report and they said, oh....don't worry about doesn't affect you. Well if it DOESN'T affect me, then why is it on there? That discussion when on for a long time to no avail. Junum got the account removed.
  15. KHM

    KHM Well-Known Member

    It is definately a FICO factor. When my hubbys charge off showed up on my report (I was reported as an authorized user) it knocked about 50 points off of my score! The lady at Providian told me the CRA's are making it easier for creditors to put info on ANYONE's reports. I was also once told by a CRA (I believe it was Experian) that if people in the same house share the same last night they will mix and match credit profiles. EX: If I live with my mom and dad and I have crappy credit certain neg. things will show up on their report and vice versa. They said SSN#'s are becoming a thing of the past all they need is a last name and address. Scary, huh?
  16. the other

    the other Well-Known Member

    They have to share the same last night, huh? lol ;-)

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