I have a question. As an authorized user of a credit card, does your credit rating affect the primary user of the card? With this, with they raise the authorized users APR or lower their credit limit as a result?? Thanks in Advance, Reshod Reshod
Good question, Reshod. Strictly speaking, there's a difference between an authorized user and a co-applicant. An authorized user is just a name the issuer puts on your card at your request. They usually don't ask for an SS number. If they do, the "authorized user" is really a co-applicant. Any name with an SS number attached could affect both approval of the application and the credit record of the co-applicant (as well as the applicant.) But with only a name, the only credit record affected is that of the primary applicant. By the way, be very careful whom you allow to use your credit cards. If overspending on credit is a temptation for you, imagine how great the temptation is for someone who will never be responsible for paying the bill.
By approval of the application, I meant both the card itself and all its terms, such as credit limit and APR. I believe there's no question that a co-applicant could worsen your terms by having a bad credit record.
As I've stated on previous posts...credit card companies have a way of getting an authorized users SSN and in return reporting credit information for the account on their credit. Happeded to me. My ex blew off a card that I was an authorized user on (never gave them my ssn or anything) and it's on my credit as a charge off. I disputed w/ the Credit bureau and got it removed but I think it was removed do to no reponse. I think it's back on there again! I was also told that any negative information your credit report were you're listed as an "Authorized User" doesn't mess your credit up. I beg to differ....if that was the case, they why even report it?
