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Informative! My mom added me as an auth user for some of her cards when I was a teen (she legit has an 850 credit score) and I had a 758 credit score by the time I was 18 lol.
Were you able to be approved for credit cards on your own because of the status alone ? My parents also added me and I now have a 750-770 fico score across all boards and was wondering if I could get approved for my own card now ? Were you able to?
@@gigi8584 depending on the card a lot of cards back date the authorized user so if the card was 12 years old all that history was now added to her card.
nice! i was an AU up until i turned 18 and i started off with a 777 credit score. I’m 21 now with a good range of credit cards and credit limit with a 781 credit score
My late father was the "owner" of the Chase card, his girlfriend was an "authroized" user = Chase does not offer a joint account. Dad paid all bills. His will leaves all Tangible Personal Property to his two children. She is claiming the "sofa, fridge, etc.." that she purchased using the card. as her property because she "purchased" the items. We contend that since he paid for it, it is his TPP. This is in Florida so it is under FL jurisdiction.
I authorized my adult 47 year old daughter on my Amex. In less than a month she charged 14K in debt. It took her a year to payoff the balance. I had to demand she finish payment it off and now our relationship is ruined. I became the bad guy because as much money as she makes, she was slow to pay it off. Never again!
I was hoping to hear more about how the upcoming changes to FICO scoring would affect the usefulness of an authorized user account (in terms of helping to build credit for the AU.)
Why would someone want to add an authorized user? Cause this mom never wants to go grocery shopping or get gas again, she can make her 16 year old son an authorized user of her AMEX platinum card and now she can come straight home after work and send her son to the store or to fill the car up with gas. I absolutely love it:)
Is being an authorized user on too many accounts be a negative? If so how many is too many? The primary card holder has excellent credit, low utilization, never late on payments, and has 10+ years of history.
listen to him his channel should be called on the money..since hes always giving you the correct information. great Channel thank you for posting as always good info. its worth it to get your own account and pay your bills on time.
7:50 so i will only get the history behind THAT credit card not the history behind their full credit report meaning the history of other open bank credit cards that they may have? just making sure i dont want to hurt my credit score😂
I was able to add my daughter online.. read through the disclaimer how it'll he reported to the 3 major credit bureaus, could show up on their credit history, and that I'm still responsible for making pymts... fine and great. But.. nowhere did it ask for their ss#, just name, address, and relationship. So how would my credit card history show up on her history?
I did that too through Chase and the lady told me that I must call back and request that it starts reporting for my 2 children. I just got their cards so I'll be doing it next week.
Will I get a better credit rating if my husband adds me as an authorized user to MULTIPLE credit cards that all have very good histories, as opposed to just adding me to one of the cards?
I am about to help a friend build her credit by adding her as authorized user. I’m very responsible with managing money and credit. Her name gets to be on my cc, but she does not have the actual credit card with her. My spending habits will rub on her but her bad habits wont rub on me since she wont have the card.
I want to let you know I’ve been watching your videos and you have helped me understand a lot about credit cards and how to choose and which cards to get moving forward that work with my particular spend pattern. I wanted to ask a question you didn’t touch on. What if someone with bad credit adds you as an authorized user??? Keep up the great work !!!!
I went from 540 to 756. I think I had really good timing and just had paid off or bad accounts had dropped off. I kind of want to figure if it’s legit I’m still in shock
Plus the other types of loans (such as home loans) have different scoring models plus they each lender has their own methods on top of that like you said in this video. Search this channel to learn more in other videos.
Hey @ProudMoney (or anybody who can answer): I've never thought about this one, but which *zip code* does an authorized user use when making a transaction? Sometimes, like when using a credit card at the gas pump, it will ask for the billing zip code. Do you use the zip code of the primary cardholder, or the zip code of the authorized user. Remember, the bank did ask for the authorized user's address when you requested the auth user card. Thanks.
I have been an AU on my sister's account for a couple of months and my credit score has not changed. My sister has great credit and has had that card over 11yrs.
From a little bit of research I have done it can depend on the specific card you are on. Some companies may not report the authorized users. Just a guess.
Called my bank they said I can add my 14 year old nephew however he will not get any credit history till he’s 18 Will the only benefit be is him Having an account that’s good and old? Is this true? Am I being misinformed? Is there a way to build history on someone who isn’t 18 yet?
I had a bankruptcy 5 years ago. After that, I've gotten several credit cards with perfect payment history. If I add my 16 year old son to those cards, will my previous bankruptcy history be a part of his credit too?
You’re not adding him to your social security number. You’re adding him to a specific “account” So whatever account you have, he’s associated with that credit card or line of credit.
What about being added as an authorized user to a very old account which is currently in good standing now, but used to have some late payments in the past (some 3 years ago, but always payed on time/or not used at all ever since)? Would that improve my score as an authorized user, or could I be penalized for payments that the primary account holder did not make on time before adding me to their account?
That's what happened to me. I would say try to get the late payments removed from the primary user's report first. For some reason, mine was only showing on 2 reports. I had the main user get the late payments removed from all 3 of their reports. For some reason that made it start showing on my 3rd report that it was not showing on(Experian). When it was added to that one, it was added with no late payments. For some reason, the other one still showed the 1 late payment for months. Honestly, it seemed like a lot of stuff wasn't reporting correctly
I have been blessed to have been allowed to be an authorized user on my partners capital one credit card. We have done well maintaining this line of credit and had recently had this line increase by more than double the limit! My questions are: is it possible for me to open my own line of credit with the same company (Capital One) while still attached to her card? Can I , should I get off of her line in order to establish my own line and then make her an authorized user on my new line???
First if you add someone as an authorized user but don't give them a card. Can they just call support and get them to mail a new one out to them? Second does an authorize user login and appear like its their own card? Such that they pay separately and accumulate and use their own rewards points? Or is this all merged?
Would adding my niece to more than one of my credit cards help her more than if I only added her to one of my cards? I could add her to three of my Chase accounts and a few others, of course I am not going to give her the cards, she just turned 18 so I am not taking any chance with that
In my opinion you should add her only to the best of the three and then offer credit advice after that. Good credit advice and habits outweigh the boost of being added as an AU on 3 accounts.
Hey bud, thanks for your videos very informative. I would like to know when do you think someone should apply for a credit once you've been added as authorized user and you've seen the positive impact to your score?
If you’re an authorized user on a CC and let’s say after a few years the original user on the CC decides to close the card, will the history of the card (and the good credit you built from it) remain on your credit report?
My mom has a 12k limit and over 5 years with 6k balance, always on-time payments Could you see the balance on my credit score? Would this help or hurt me?
Question if my son makes me an authorized user on his credit card and I apply for another credit card and I get a hard pull on my credit does my son's credit score go down
So I need 50 points to get a home loan I've tried getting my own card and got shot down so I had my mother add me she runs about 5 grand through it and has had it for over ten years my question is how much credit will I get around and how long will it take
2 questions 1. If I add someone as an authorized user, does adding them also affect their credit score similarly to applying to a new credit card? for example: inquiries after applying for a credit card can affect your credit score. 2. If the person I want to add as an authorized user (In my case, a parent) has a longer credit history than I do but I want to help pull their credit score up, will it be helpful or will it make their credit score lower since I don't have as long of a credit history as they do? Thank you in advance to anyone who is able to help! It is much appreciated!
Adding an authorized user will not place an inquiry on their account, since authorized users are not responsible for paying off the card. In most cases of authorized users being reported, yes the average age of the account will decrease. If their average average account age was 3 years with 1 account, and your account is 1 years old, their average credit age will be 2 years. However account age does not have nearly as high of an impact as credit utilization, so having more available credit might increase their score
I have a doubt - How do we know if we are added as authorized user to their account ? That is, how can we know/verify if they actually added us? Will we get a notification in the Experian app when its added?
@@Ghostrider-ul7xn I’m not sure about all cards but at least when I checked on the chase website, it said that they would send another card to you for the authorized user to use. It would use the balance on the card that the main cardholder has but it would still be the main cardholders responsibility to pay it off. Ofc the main cardholder can just do this for boosting the credit score of someone else and never give them the authorized user card.
Once an authorized user account is removed from your credit report is there any benefit from length of credit high credit limit or anything else that would benefit from doing this
Well being a authorized user can have more benefits if the account you are added to is in good standing. However if you don't think that you will be particularly responsible with a credit card then a secured card that borrows against your own money could be better.
Si I’m a little confused if I need the benefit of more credit or better credit and my mom has it. Do I ad her or does she add me? Please answer this for me.
what if you were put on someone else's card as a authorized user but they were irresponsible and their credit utilization took your score down 30 points and you never even used the credit card and now that you have removed yourself from that card, and you have a bad credit report. How do you remove that bad report off your credit report? Can I get those point back?
Your situation is slightly confusing. If you have at least one personal line of credit, your score should have bounced back after you removed yourself as an AU.
I never asked to be a authorized user on cards that my wife opened. I am trying to get my name removed from those cards, but she won’t do it. I never was issued a card nor signed any paperwork asking for one. What is my recourse here? My reason for asking is that she asked for a divorce. She wants to refi our home loan without my name. Only then will she remove me. I have refused. Am I responsible for all the credit card debts even though I never asked to be on them? Thanks n
no. the main account holder, the person who orignially opened the account is fully responsible for the debts. so if she spends 5k and goes to mexico. the bank wont care about you at all. but if she opened it without your permission at all, thats identity fraud if im not wrong. you could ask the bank and tell them you never agreed. or ask a lawyer.
I'm assuming the authorized user won't hurt the other persons credit? what about joint accounts? who's credit affects whom? and why would you do a joint account? or not?
The authorized user cannot hurt the primary account holders credit. I never heard of a credit card “joint account” or are you referring to something like a house… honestly the closest thing I can tell you where two people would be affected at once would be something called a “cobarrower” I would never do a joint account with someone unless that person is very stable with lots of money.
Question if someone opened 5 credit card accounts in one month with 2 of them being authorized users is that still considered under 5/24? He has 3 hard inquiries only but he also has 5 new opened accounts.
My understanding is that Chase counts new authorized user accounts the same as if you opened a new credit card, so in your example Chase would consider that 5 accounts.
Hello my parents did this for me about 4 years ago and I now have a 750-770 fico score across all credit bureaus and was wondering if I could get approved for a card. I do have my own income and a trust fund but I was wondering if the authorized user status alone could help me get started building my own credit.
I think you could get your own card. As long as you stay under 30% utilization of that card you’ll be ok and also if you stay under their account as long as they make on time payments you’ll benefit imho.
definitly get your own card. since you have a long history and good score already. just your income matters. i recommend getting a starter card. like discover or apple card, or petal, etc or even one with the company you bank with. companies love when you have a long good banking relationship with them. and after that. start stacking up chase credit cards. in the past 24 months, chase only allows 5 new credit card accounts be opened. so you can open 4 chase credit cards about 3-6 months apart without a worry.
If I currently have a high credit score, do you recommend me becoming an authorized user on my parents since they have more lines of credit? If their credit score is lower than mine, will it hurt my credit?
@@ProudMoney if the person has a lower score but better history than example my 725 score with low credit age will my age go up or will it not be affected ?
I want to add my friend as an authorized user so that he can get the all those benefits and then be able to apply for a credit card on his own having a better credit score thanks to the AU. Will that work the way I think it will?
Most of the time no. The only benefit you can get is cash back or points if you allow the authorized user to spend on the card. You just have to be careful they pay you back for it because at the end of the day you're 100% responsible for whatever they spend.
Hello, love the video, thank you. Can i from a strategic standpoint. Get some authorized user accts = to increase my current credit score... For the purpose of securing a "debt consolidation loan" at a better int % rate? Or would it not matter as much, because once I secure a debt co solidation loan at given int % rate, would my credit increase due to the altered individual acct balance standings = as paid off,in terms of credit card accts specifically...which would allow me to recover and improve credit to in turn apply for a better int loan and move it again. ? Just a question of concern to conpare from what youve seen in your years of experiences. Thank you.
In this video I saw he said 6 months if you don’t have credit. In other video by a different person I saw 1-2 months if you already have some sort of established credit
There are no authorized users on business cards. But some do offer employee cards, some give it for free, some want a payment. And with employee cards, they get a card, but it doesnt affect their credit score at all, whether that be good or bad. So you and your business credit score is on the line with them if you are a small business.
@Star Dust you go to the settings/options on your credit card app or online...you put in all the info and determine various factors depending on the bank, one of which is where you want the card sent. have the card sent to yourself and just keep it. if it's someone you trust you can give them the card and some banks give you the option to set a limit on their card.
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NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
if i get added as an authorized user and i dont live at the same address will it show up on my credit report?
My mom just put me as an authorize user about a month and a half ago I had zero credit now my credit score is at 700
I added my boyfriend and my nephew as authorized users to build their credit about 2-3 months ago. My boyfriend's score has increased over 100 points.
Girl- just don’t fall out with him or hold it over his head 😖😭
@@bobby3210 I don't
Your boyfriend, and not your husband? 😞
@@Nurseakeem Well now he's my fiance. But yes
What card did you add them to? I’m wondering if Amex reports the same
Informative! My mom added me as an auth user for some of her cards when I was a teen (she legit has an 850 credit score) and I had a 758 credit score by the time I was 18 lol.
How old were you when she added you?
Were you able to be approved for credit cards on your own because of the status alone ? My parents also added me and I now have a 750-770 fico score across all boards and was wondering if I could get approved for my own card now ? Were you able to?
@@gigi8584 depending on the card a lot of cards back date the authorized user so if the card was 12 years old all that history was now added to her card.
nice! i was an AU up until i turned 18 and i started off with a 777 credit score. I’m 21 now with a good range of credit cards and credit limit with a 781 credit score
My late father was the "owner" of the Chase card, his girlfriend was an "authroized" user = Chase does not offer a joint account. Dad paid all bills. His will leaves all Tangible Personal Property to his two children. She is claiming the "sofa, fridge, etc.." that she purchased using the card. as her property because she "purchased" the items. We contend that since he paid for it, it is his TPP. This is in Florida so it is under FL jurisdiction.
I authorized my adult 47 year old daughter on my Amex. In less than a month she charged 14K in debt. It took her a year to payoff the balance. I had to demand she finish payment it off and now our relationship is ruined. I became the bad guy because as much money as she makes, she was slow to pay it off. Never again!
That's horrible!
This was very informative ...some of this info is not really known for most ppl...great vid 👍🏾
You should do a video on churning and burning for signups and than closing the card.
I was hoping to hear more about how the upcoming changes to FICO scoring would affect the usefulness of an authorized user account (in terms of helping to build credit for the AU.)
Thank God it only applies to that one account and not my whole history.
First!! Keep up the work! Your videos helps me and others out a lot!!
Thanks!
So glad I discovered your channel. Love all the information you provide, and you always provide an entertaining video!
Thanks so much, really appreciate it!
Another benefit of adding an authorized user: sometimes credit card issuers will provide compensation if you add an authorized user.
this is true!
Why would someone want to add an authorized user?
Cause this mom never wants to go grocery shopping or get gas again, she can make her 16 year old son an authorized user of her AMEX platinum card and now she can come straight home after work and send her son to the store or to fill the car up with gas.
I absolutely love it:)
Is being an authorized user on too many accounts be a negative? If so how many is too many? The primary card holder has excellent credit, low utilization, never late on payments, and has 10+ years of history.
listen to him his channel should be called on the money..since hes always giving you the correct information. great Channel thank you for posting as always good info. its worth it to get your own account and pay your bills on time.
Thanks!
7:50 so i will only get the history behind THAT credit card not the history behind their full credit report meaning the history of other open bank credit cards that they may have? just making sure i dont want to hurt my credit score😂
you answered my question, this is the best video I saw amongst all...very useful information..
Loved this video, it was so helpful and you answered all the questions i had and more. Thank you.
I was able to add my daughter online.. read through the disclaimer how it'll he reported to the 3 major credit bureaus, could show up on their credit history, and that I'm still responsible for making pymts... fine and great.
But.. nowhere did it ask for their ss#, just name, address, and relationship. So how would my credit card history show up on her history?
I did that too through Chase and the lady told me that I must call back and request that it starts reporting for my 2 children. I just got their cards so I'll be doing it next week.
Will I get a better credit rating if my husband adds me as an authorized user to MULTIPLE credit cards that all have very good histories, as opposed to just adding me to one of the cards?
This was the perfect video. Thank you.
I am about to help a friend build her credit by adding her as authorized user. I’m very responsible with managing money and credit.
Her name gets to be on my cc, but she does not have the actual credit card with her. My spending habits will rub on her but her bad habits wont rub on me since she wont have the card.
that is great, but if she has bad habits, AU will be a waste lol
I want to let you know I’ve been watching your videos and you have helped me understand a lot about credit cards and how to choose and which cards to get moving forward that work with my particular spend pattern. I wanted to ask a question you didn’t touch on. What if someone with bad credit adds you as an authorized user??? Keep up the great work !!!!
nothing really. it will not drag your credit score down but won't help it either
Thanks!!! Keep up the great work!!! You have one of the most informative channels by far.
How many ppl can list me as an authorized user?
I went from 540 to 756. I think I had really good timing and just had paid off or bad accounts had dropped off. I kind of want to figure if it’s legit I’m still in shock
What did you do?
Plus the other types of loans (such as home loans) have different scoring models plus they each lender has their own methods on top of that like you said in this video. Search this channel to learn more in other videos.
Hey @ProudMoney (or anybody who can answer): I've never thought about this one, but which *zip code* does an authorized user use when making a transaction? Sometimes, like when using a credit card at the gas pump, it will ask for the billing zip code. Do you use the zip code of the primary cardholder, or the zip code of the authorized user. Remember, the bank did ask for the authorized user's address when you requested the auth user card. Thanks.
Zip code of primary cardholder since it’s linked to the same account.
Exactly what I was looking for! Thanks! 👍
I have been an AU on my sister's account for a couple of months and my credit score has not changed. My sister has great credit and has had that card over 11yrs.
From a little bit of research I have done it can depend on the specific card you are on. Some companies may not report the authorized users. Just a guess.
First make sure it is reported on your credit report ! That's the only way you will get benefice from it
Can an authorized user make payments directly for their charges?
Called my bank they said I can add my 14 year old nephew however he will not get any credit history till he’s 18
Will the only benefit be is him
Having an account that’s good and old?
Is this true?
Am I being misinformed?
Is there a way to build history on someone who isn’t 18 yet?
Great Review ! 👍🏻👍🏻
I had a bankruptcy 5 years ago. After that, I've gotten several credit cards with perfect payment history. If I add my 16 year old son to those cards, will my previous bankruptcy history be a part of his credit too?
Negative, he beggins with a new credit score/history
Commenting for confirmation info on that. My mom is in a similar pickle with me
You’re not adding him to your social security number. You’re adding him to a specific “account” So whatever account you have, he’s associated with that credit card or line of credit.
What about being added as an authorized user to a very old account which is currently in good standing now, but used to have some late payments in the past (some 3 years ago, but always payed on time/or not used at all ever since)? Would that improve my score as an authorized user, or could I be penalized for payments that the primary account holder did not make on time before adding me to their account?
That's what happened to me. I would say try to get the late payments removed from the primary user's report first. For some reason, mine was only showing on 2 reports. I had the main user get the late payments removed from all 3 of their reports. For some reason that made it start showing on my 3rd report that it was not showing on(Experian). When it was added to that one, it was added with no late payments. For some reason, the other one still showed the 1 late payment for months. Honestly, it seemed like a lot of stuff wasn't reporting correctly
Wiil the authorized user's previous bad credit affect my score if added
Great information!!! Thank you!!! Keep up the great work!!!
Amazing video thank you.
Wow great job man !!!!
I have been blessed to have been allowed to be an authorized user on my partners capital one credit card. We have done well maintaining this line of credit and had recently had this line increase by more than double the limit! My questions are: is it possible for me to open my own line of credit with the same company (Capital One) while still attached to her card? Can I , should I get off of her line in order to establish my own line and then make her an authorized user on my new line???
Are you kidding? Of course you can do that. That's no different than just have two capital one cards.
Question, can one be an authorized user on multiple accounts from different people?
First if you add someone as an authorized user but don't give them a card. Can they just call support and get them to mail a new one out to them? Second does an authorize user login and appear like its their own card? Such that they pay separately and accumulate and use their own rewards points? Or is this all merged?
How long will it take to effect??
Great information
TransUnion deleted an account I was an AU on in error. I think it has cost me 100 points
By my brother adding me as an AU on his account and me picking up a new account on my credit report, will that change/mix in to my AAOA? Thanks
Would adding my niece to more than one of my credit cards help her more than if I only added her to one of my cards? I could add her to three of my Chase accounts and a few others, of course I am not going to give her the cards, she just turned 18 so I am not taking any chance with that
In my opinion you should add her only to the best of the three and then offer credit advice after that. Good credit advice and habits outweigh the boost of being added as an AU on 3 accounts.
Awesome video. Thanks
Great topic!
Hi , great video ! would their high balance , that’s over thirty percent affect the users score ?
Can becoming an AU on an AMEX shoot my credit up? If so by how much?
Hey bud, thanks for your videos very informative. I would like to know when do you think someone should apply for a credit once you've been added as authorized user and you've seen the positive impact to your score?
If you’re an authorized user on a CC and let’s say after a few years the original user on the CC decides to close the card, will the history of the card (and the good credit you built from it) remain on your credit report?
Hey, thank you for the information I do have one question. What would I need to have to get a credit card of my own after being an authorized user.
Is it better to become an AU for Chase CSR or Amex Platinum. Which one gives you more values and perks?
It usually doesn’t matter any card that reports to all 3 bureaus count. I would go with chase though since Amex doesn’t backdate authorized users
My mom has a 12k limit and over 5 years with 6k balance, always on-time payments
Could you see the balance on my credit score? Would this help or hurt me?
Definitely hurt, your mum is demonic
Question if my son makes me an authorized user on his credit card and I apply for another credit card and I get a hard pull on my credit does my son's credit score go down
Yes
No it doesn't
Your son's credit history only gets added to your credit file. Nothing on your file effects your son's credit score
Helpful!
Thanks
Buying a trade line from a stranger is risky for you and the seller.
what happens if I become an authorized user on someone's card without having social security yet? Do I still get a credit history?
What about multiple authorized user accounts👀
can an authorized user / principal cardholder transfer MR / UR points to the authorized user's own mileage account for airline transfer partners?
wait.....1st thing... I love the finger thing you did when u said hit subscribe button.
Does authorized user still work today this day
Yes
Does becoming an authorized user pull a hard inquiry on your credit report?
No
@@sebastionkeller7791 Thankz
This is very helpful! I will add my sibling and never give them the card. 👍🏼
Good call!
Im looking to help family whats the most users on my credit card should i add??
Do you have to spend on the card sent to you.?.
Nevermind you answered right at the end. Thanks a lot 👍
After how long can I be removed from being an authorized user?
Anytime,.
How long can an authorized user be on a account to help their credit before it’s safe to remove them without affecting their credit?
What if the primary card holder doesn't pay things on time, does it affect the authorized users credit score?
YES
YES HAVE TO PAY ON TIME
Their credit will show up on your report exactly as it shows on their report
At what age can you legally add someone as an authorized user?
If you are an authorized user and have a card does that count toward your chase 5/24 limit?
Yes on google a blog said it did
So I need 50 points to get a home loan I've tried getting my own card and got shot down so I had my mother add me she runs about 5 grand through it and has had it for over ten years my question is how much credit will I get around and how long will it take
Any update on your credit report from doing this? If so how long did it take. Thanks
This is only for credit cards? No other loans?
2 questions
1. If I add someone as an authorized user, does adding them also affect their credit score similarly to applying to a new credit card?
for example: inquiries after applying for a credit card can affect your credit score.
2. If the person I want to add as an authorized user (In my case, a parent) has a longer credit history than I do but I want to help pull their credit score up, will it be helpful or will it make their credit score lower since I don't have as long of a credit history as they do?
Thank you in advance to anyone who is able to help! It is much appreciated!
Adding an authorized user will not place an inquiry on their account, since authorized users are not responsible for paying off the card.
In most cases of authorized users being reported, yes the average age of the account will decrease. If their average average account age was 3 years with 1 account, and your account is 1 years old, their average credit age will be 2 years. However account age does not have nearly as high of an impact as credit utilization, so having more available credit might increase their score
@@aaronwaterman3888 Thank you so much man! Really appreciate you putting in the time to answer my questions! Much love!
@@rafpaloma4772 Glad I was able to help! Cheers! 🎉
I have a doubt - How do we know if we are added as authorized user to their account ? That is, how can we know/verify if they actually added us? Will we get a notification in the Experian app when its added?
@@Ghostrider-ul7xn I’m not sure about all cards but at least when I checked on the chase website, it said that they would send another card to you for the authorized user to use. It would use the balance on the card that the main cardholder has but it would still be the main cardholders responsibility to pay it off. Ofc the main cardholder can just do this for boosting the credit score of someone else and never give them the authorized user card.
Can you apply for another credit card as an authorized user ?
Can I add a foreigner as an authorized user? Someone who lives outside the United States and therefore has no ssn?
To my knowledge, I don't think so they need a ssn
Once an authorized user account is removed from your credit report is there any benefit from length of credit high credit limit or anything else that would benefit from doing this
Its not removed, it just reports as a closed acct.
What’s better for someone? Becoming an authorized user or having a secured credit line of their own? Thanks.
Well being a authorized user can have more benefits if the account you are added to is in good standing. However if you don't think that you will be particularly responsible with a credit card then a secured card that borrows against your own money could be better.
Can the primary holder add the same authorized user to more than one account?
Yes
Si I’m a little confused if I need the benefit of more credit or better credit and my mom has it. Do I ad her or does she add me? Please answer this for me.
She adds you to her CC
what if you were put on someone else's card as a authorized user but they were irresponsible and their credit utilization took your score down 30 points and you never even used the credit card and now that you have removed yourself from that card, and you have a bad credit report. How do you remove that bad report off your credit report? Can I get those point back?
I have the same question… it happened to me, it’s like thanks and all, but you help me and then fuck me up 😂
Your situation is slightly confusing. If you have at least one personal line of credit, your score should have bounced back after you removed yourself as an AU.
@@aaronwaterman3888 at least on my end that was ithe only credit card that I was on, that explains why it did not bounce back then
I never asked to be a authorized user on cards that my wife opened. I am trying to get my name removed from those cards, but she won’t do it. I never was issued a card nor signed any paperwork asking for one. What is my recourse here? My reason for asking is that she asked for a divorce. She wants to refi our home loan without my name. Only then will she remove me. I have refused. Am I responsible for all the credit card debts even though I never asked to be on them? Thanks n
🤦🏽♂️ you should probably get on her good side to remove it or I’ll have to take this shit to trial if that’s even possible
You can call the bank an ask to get moved
no. the main account holder, the person who orignially opened the account is fully responsible for the debts. so if she spends 5k and goes to mexico. the bank wont care about you at all. but if she opened it without your permission at all, thats identity fraud if im not wrong. you could ask the bank and tell them you never agreed. or ask a lawyer.
@@WAncouvOR
You really believe she did without his knowledge?
What happens to the credit of the authorized user if decided to be removed from someones else's credit card?
Yes he said you lose it so use it while you can
At around 11 minutes in he talks about it
I'm assuming the authorized user won't hurt the other persons credit? what about joint accounts? who's credit affects whom? and why would you do a joint account? or not?
Sighs at the fact my main questions were clearly not answered in this video I’m already half way through on
The authorized user cannot hurt the primary account holders credit. I never heard of a credit card “joint account” or are you referring to something like a house… honestly the closest thing I can tell you where two people would be affected at once would be something called a “cobarrower” I would never do a joint account with someone unless that person is very stable with lots of money.
@@jt2428 2 Wheel'barrows'?
CoBorrower*. Sorry had to jab a Lil bit.
Good Day ✌️
Can you recommend a tradeline to go to for this? Is there a reputable company to call over others?
Google trade line supply
Question if someone opened 5 credit card accounts in one month with 2 of them being authorized users is that still considered under 5/24? He has 3 hard inquiries only but he also has 5 new opened accounts.
My understanding is that Chase counts new authorized user accounts the same as if you opened a new credit card, so in your example Chase would consider that 5 accounts.
Hello my parents did this for me about 4 years ago and I now have a 750-770 fico score across all credit bureaus and was wondering if I could get approved for a card. I do have my own income and a trust fund but I was wondering if the authorized user status alone could help me get started building my own credit.
I think you could get your own card. As long as you stay under 30% utilization of that card you’ll be ok and also if you stay under their account as long as they make on time payments you’ll benefit imho.
BUILD UP YOUR OWN ACCOUNTS WHILE YOU ARE A AU LIKE HE SAID IN THE VIDEO!..
definitly get your own card. since you have a long history and good score already. just your income matters. i recommend getting a starter card. like discover or apple card, or petal, etc or even one with the company you bank with. companies love when you have a long good banking relationship with them. and after that. start stacking up chase credit cards. in the past 24 months, chase only allows 5 new credit card accounts be opened. so you can open 4 chase credit cards about 3-6 months apart without a worry.
Can I be denied as an authorized user?
If I currently have a high credit score, do you recommend me becoming an authorized user on my parents since they have more lines of credit? If their credit score is lower than mine, will it hurt my credit?
If you have other credit cards, i wouldn't bother unless u feel u actually need more available credit.
@@ProudMoney if the person has a lower score but better history than example my 725 score with low credit age will my age go up or will it not be affected ?
I want to add my friend as an authorized user so that he can get the all those benefits and then be able to apply for a credit card on his own having a better credit score thanks to the AU. Will that work the way I think it will?
If you value that friendship I would advise against that ^
You can add ur friend to ur credit card but don't let him use the card it will complicate things. But by just adding him would help
Will adding someone as a authorized user benefit the main card holder at all?
Most of the time no. The only benefit you can get is cash back or points if you allow the authorized user to spend on the card. You just have to be careful they pay you back for it because at the end of the day you're 100% responsible for whatever they spend.
Hello, love the video, thank you.
Can i from a strategic standpoint.
Get some authorized user accts = to increase my current credit score...
For the purpose of securing a "debt consolidation loan" at a better int % rate?
Or would it not matter as much, because once I secure a debt co solidation loan at given int % rate, would my credit increase due to the altered individual acct balance standings = as paid off,in terms of credit card accts specifically...which would allow me to recover and improve credit to in turn apply for a better int loan and move it again. ? Just a question of concern to conpare from what youve seen in your years of experiences. Thank you.
What If remove someone then add them back later?
Not sure if this is how all companies work, but Capital One does not allow you to re-add someone as an AU once they've been removed from the account.
@@swaggalicious2323 That's crazy
How long does it take to reflect on your credit report that you have become an authorized user?
In the video he stated about 6 months.
In this video I saw he said 6 months if you don’t have credit. In other video by a different person I saw 1-2 months if you already have some sort of established credit
If a authorized user holds a balance does it hurt you utilization?
Authorized user's balance is part of the cardholder's balance, it is not separate, so anything authorized user buys is part of the card balance.
Hey, do I need to activate the authorize user card, or could I just keep it in the draw?
Keep it in the drawer. As long as the actual main user keeps using it.
Can I add people personal credit on my business card as an authorized user?
There are no authorized users on business cards. But some do offer employee cards, some give it for free, some want a payment. And with employee cards, they get a card, but it doesnt affect their credit score at all, whether that be good or bad. So you and your business credit score is on the line with them if you are a small business.
Once my authorize user gets their card can they make there own account on discover card app?
I have the same question
don't give an User a card.
@@calixtaylor1969 so how would they be able to apply for their own card?
@Star Dust you go to the settings/options on your credit card app or online...you put in all the info and determine various factors depending on the bank, one of which is where you want the card sent. have the card sent to yourself and just keep it. if it's someone you trust you can give them the card and some banks give you the option to set a limit on their card.