My boyfriend put me on the extra card. Will it affect my credit if I use the card he gave me, or will it go towards his?? If I sign my name for a purchase or a cash advance will they come after me if he doesn't end up paying the bill on time?? You see he lost is drivers license he can't find it and he wants me to go and get a cash advance for him because i have a drivers licence. my credit is almost good again. If i do this for him will it mess up any thing on my credit if i sign for this??
2006-09-26 02:05:09 · 9 answers · asked by jj&jslt 2 in Business & Finance ➔ Credit
An authorized user is not liable for the balance. Only applicants are generally liable.
Be careful though, because some creditors report payment histories of authorized users to the credit bureaus. This can improve your score as long as the account is handled properly.
2006-09-26 03:25:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
First thing get him down to the DMV and get his license.
2nd don't use the credit card it will ruin your relation.
3rd if you did not sign the application you are not reponsible for HIS money spent, you may be morally legal responsible for the purchases you made but the creditors will chase him first. Visit DaveRamsey.com to learn what you don't know about credit slavery before you get bent over and scr--ed.
Cash is king , credit is for slaves
2006-09-26 02:56:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋
if you use the card and sign a receipt, that makes you a joint responsible party for any and all charges to the account ... both your credits will be affected by any adverse payment history on the account
2006-09-26 02:08:44 · answer #3 · answered by casurfwatcher 6 · 0⤊ 0⤋
The worst thing anyone can do for their credit is get involved in any type of joint account. Don't sign anything unless it's the form to get your name off the account, and do it quickly.
2006-09-26 02:15:27 · answer #4 · answered by ***&&*** 3 · 0⤊ 0⤋
Be careful. Some creditors will try to pin on you if the applicant doesn't pay or is late. Be sure to check your credit reports and make sure that its not being reported under your name. I had this happen to me and had it disputed, and it was removed from my reports.
2006-09-26 09:54:53 · answer #5 · answered by Shorty 1 · 0⤊ 0⤋
It's all his.
Your name is not on the account.
It's no different than a parent giving a child "an extra card" on the parent's card.
I gave my ex a card on my own card. She went bananas and I stopped her card.
2006-09-26 02:11:37 · answer #6 · answered by ed 7 · 0⤊ 0⤋
toddler look you isn't resonsible for no longer something that has your call on it . i'd get me a legal professional if i choose and enable my ex-spouse keep in mind that i can not pay for something i did not use
2016-11-24 20:01:32 · answer #7 · answered by rosenberg 4 · 0⤊ 0⤋
If you are only an "authorized user" then no, you are not responsible.
If you are a "joint user" then yes, you are
2006-09-28 20:22:20 · answer #8 · answered by supercreditguru 3 · 0⤊ 0⤋
I don't think so.
2006-09-28 10:10:33 · answer #9 · answered by Anonymous · 0⤊ 0⤋