- Centurion Member
- Posts: 106
- Joined: Wed Apr 03, 2013 3:16 am
- Location: nyc/ny
you got that backwards. joint holder IS liable, authorized user is not. as for receiving the form..... i don't know. you usually have to ask to have that sent out to you. only they would know why you got that letter. the only way to find out is to call the card issuer.
an "authorized user" will not have the account on their credit history, since it is not THEIR account. an "authorized user" is someone who merely has permission to spend someone else's money. the "authorized user" has no obligation to pay any of it back. this is something parents usually give to their kids or employers give to their employees. a spending cap is usually put in place but the actual account owner to make sure the "authorized user" doesn't get carried away.
a "joint account" is a whole different animal. it is a shared account and all parties who sign on are responsible for it. this goes for "joint checking accounts," "joint credit cards," etc. if the account goes bad, everyone associated with it takes the fall. this is the type of account a married couple or domestic partners would hold.
back to the letter; i would have your wife's credit reports checked. the bank might want to take her off the account because for some reason they think she may be a risky investment. but if she is already on the joint account, they can't just kick her off without closing down the account altogether. they are asking nicely.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL
Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.