Any potential negatives involved with adding an Additional Card member?

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VisaSpeak
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Any potential negatives involved with adding an Additional Card member?

Postby VisaSpeak » Mon Sep 02, 2013 12:11 pm

Aside from them going wild with my card?

Does their credit get linked to my credit? How does this work


whit
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Postby whit » Mon Sep 02, 2013 12:41 pm

I'm assuming its authorized user, because joint is rare and would require my social,

That means I get to go crazy and spend whatever is on your credit line, if I was nice enough to pay you back sure, if not you're responsible for it, also the ultilization would affect your credit score not mine

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Terry
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Postby Terry » Mon Sep 02, 2013 12:41 pm

VisaSpeak wrote:Aside from them going wild with my card?

Does their credit get linked to my credit? How does this work



While credit profiles will remain independent, adding an authorized user to an account will benefit said person provided that you maintain a positive payment history. Whereas, any negative action on the account will be reported on both credit reports.
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JeffM
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Postby JeffM » Mon Sep 02, 2013 1:03 pm

The only negative for you would be if they used the card and never paid you back. And the utilization of course.

SClay
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Postby SClay » Mon Sep 02, 2013 5:08 pm

Hey there!

I also had some questions surrounding AU's, but thanks to the help of the community + further research I learned a lot from it.

Basically, AU's must give a social security number. This is good because it reports it to their credit but also holds them accountable for their purchases. However, as you said, they could go on a crazy spree on the card and then it would report the utilization and balance to your credit rating as well. American Express allows the primary card holder to set limits for AU's, such as spending limits and can also lock the card. Their credit report will not get 'linked' to yours, BUT whatever they decide to do on the AMEX will report to yours as well. I recommend setting a limit on their card, that way you wouldn't have to worry about some of these things. Hope this helps! :)
Capital One Secured AU | $1851 | 10/2013
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DavidNY
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Postby DavidNY » Mon Sep 02, 2013 6:00 pm

SClay wrote:AU's must give a social security number.


It depends on the card.

SClay
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Postby SClay » Mon Sep 02, 2013 7:18 pm

DavidNY wrote:It depends on the card.


Correct, but this was posted in the American Express forum, and all AU's from AMEX (Non third party anyways) require SSN.
Capital One Secured AU | $1851 | 10/2013
Capital One Journey | $1000 | 03/03/2016
American Express Delta Gold | Denied | 03/13/2016
Citi Bank Double Cash | $1000 | 03/13/2016
Chase Amazon Visa | Pending | 03/13/2016

DavidNY
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Postby DavidNY » Mon Sep 02, 2013 8:08 pm

SClay wrote:Correct, but this was posted in the American Express forum, and all AU's from AMEX (Non third party anyways) require SSN.


Ah, OK :cool: .

takeshi
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Postby takeshi » Wed Sep 04, 2013 6:00 pm

JeffM wrote:The only negative for you would be if they used the card and never paid you back. And the utilization of course.

Not just those but some have apparently run into AA due to more activity by the AU. I haven't personally experienced this, just relaying what others have claimed (but I can't speak to their competence in understanding causality).



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