American express card?

Question

My dad added me to the additional card list. I called customer service and they said that i will not build credit because my dad is the person liable for the charges. But, she said that i will build credit with american express; and after that i can apply for an american express card and they'll report it to the credit bureau. Is this the truth or was the lady lying about this? She sounded unsure about her answer. Has anyone gotten an answer like this before?

Answer 1

She is exactly correct.

Peace!

Answer 2

When I had a n American Express Card in my Name and then added one for my Husband it did not help his credit. At that time American Express only report the credit in my name. But also they would never answer any questions to my husband because her was only a signer and not an owner on the account. I would talk to your father about it and see what he has to say. You really need to try to get a card of your own or a bank loan to build you credit. Also if you use a credit card and pay it off every month you are not occurring interest but you also are not building your credit you need to make payments like pay every thing you owe except $5.00 a month that way you are now occurring to much interest. And never max out a credit card that is very bad for your credit. Almost as bad as missing payments. Good Luck.

Answer 3

No, as long as you call them you can close the account without it affecting your credit score. They're going to ask you to pay the remaining balance though obviously. The only thing that will happen on your credit report is it will say, "Pays as Agreed" and then account closed. American Express is one of the best cards in the world though. Yeah, the fee is high, but for a reason. You're paying for the benefits that you'll never see with another card. If it's the only one you have, keep it. The longer the account is in good standing the better your credit score will build. Your AE can have a limit as high as 20k. Did you know that. Now that's purchasing power. Think hard before you cancel. You'll never regret it if you keep it. You score won't be affected if you call. Good luck to you.

Answer 4

It is untrue in my case. I was recently in that same situation. My fiancee took the same actions that your father did. She added me to her card as an authorized user therefore I received a card that was in my name but it was under her account. She got two different responses from the customer service representative when she asked if that would help build my credit. Both representatives sounded unsure about their answers-one said yes if AMX has my social security number on file with that account, the other one said NO. I recently got one of my credit history reports and the AMX account was reflected in my history reports. It also depends on which credit card company wants to report additional card holders to the credit bureau. In my case AMX does report therefore helping my credit history. These representatives are either not sure or not allow to full answers to those type of questions due to the benefits that could occur from a consumer standpoint.

Answer 5

It used to be that way with American Express-- get a card on your parent's account, and then you build credit for yourself, all the while your parent is ultimately responsible for your charges.

Sounds like it hasn't changed since i was in college and my dad got me an AM Ex to take to Europe as an emergency safeguard.

Answer 6

Credit cards are a bad idea .
Look at the debt more than 1/2 of America is in.

Answer 7

I'm not really sure. I try to keep my husband and my credit completely separate so we each have our own credit. But one time I got a credit card and let him use it ("allowable user")...kind of like you and your dad. However, I know for a fact that it comes up on his credit report as an item. So the question is, if your credit is not built because he is ultimately responsible...then why is it listed on my husband's credit report (shouldn't it just be mine?)

Answer 8

That makes sense. Since you are only the secondary cardholder on your father's account all liability falls on him. So, if you don't pay your bill he is responsible for the debt not you.

On the other hand, you are making a name with American Express so if your Dad's account stays in good standing they can look to see that you were a cardholder on the account and in turn you will have proven that you are responsible to them. Then you can get your own card.

Answer 9

The only way you can build credit for yourself is to obtain a credit card in YOUR own name. If you are the primary card holder, you will get the credit...

Answer 10

go down to her office and slap he with a wet newspaper

Answer 11

Yes she is correct.