Hi i'm currently with capital one. If my wife is the secondary card holder, and rarely uses her credit card, will she be building her credit too? (I'll be using it mostly)
2006-09-09 10:09:14 · 7 answers · asked by tsolworldwar3 2 in Business & Finance ➔ Credit
credit cards define cardholders two way, one is a person that is responsible for the bill so they can go after either of you, if that is the case then yes they will build (or lose) credit based on the card. If just are an additional cardholder without being responsible for it then they will not be affected by the card.
The easiest way to tell is to ask them but if you gave them the other person's social security number then they most likely are the frist case where they will build credit.
2006-09-09 10:46:36 · answer #1 · answered by ken 3 · 0⤊ 0⤋
Secondary Credit
2016-10-14 12:06:07 · answer #2 · answered by meharg 4 · 0⤊ 0⤋
She needs to use it also. If she has her own card then yes it will help her but also it doesn't hurt if she uses the one she carries. Most lenders look at what good line of credit you have out which is bank loans and credit cards. If you keep this up to date it should reflect on her credit also as long as she has a card of her own.
2006-09-09 15:12:30 · answer #3 · answered by Krinta 7 · 0⤊ 0⤋
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Authorized user accounts only count in the FICO scores for spouses and kids. So, yes, being added as an authorized user on your mother car will help build your credit. The account will show on your credit report and count in your FICO score. After you have established credit about 2 years of credit in your own name, you should have your mother remove you as an authorized user on her account. On down the road, it can be a problem. The authorized user account would be included in your debt to income ratio even tho you don't pay the bill.
2016-04-04 06:02:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If the card is a joint account, yes your wife benefit from the history of the card - as long as the card is in good standing, if it's not in good standing, it will hurt both of your scores (if you default on the card, she would be held liable also)
If she is an authorized user, she will also benefit from the "full" history of the card as long as the card company is reporting it for her. They usually will do that automatically, but sometimes you need to call and request that they report for the authorized user.
(if you default on the card, she would "not" be held liable, unless your state statutes say otherwise)
Check her credit reports and see if it is listed. If not, call Cap One and request that they list her - Cap One is usually pretty good with listing AU's, so I'm sure she already does have it on her reports.
2006-09-09 11:11:19 · answer #5 · answered by echo 7 · 3⤊ 0⤋
Some people call it Piggy backing or riding on family members shirt tales look it up really. It is something someone with outstanding credit can do to help u.
:)
2006-09-09 15:15:00 · answer #6 · answered by jodi_lynn_124 2 · 0⤊ 0⤋
Not sure read some credit tips and more on this site to help you with it
2006-09-09 10:13:38 · answer #7 · answered by Anonymous · 0⤊ 0⤋