My husband added me as an additional cardholder on all of this credit cards and he has good credit but I don't. We paid all of the credit cards before it's due date (usually more then the minumim). Can this effect both of our credit scores? Will this help rebuild my credit score? Thanks in advances!
2007-10-04 04:52:49 · 7 answers · asked by daisy 2 in Business & Finance ➔ Credit
It depends, if he added you as either a joint or co-signer then yes it will help your credit.
If however he added you as a authorized user it will not.
The way credit scores are calculated changed in September to not give authorized user additional points for accounts.
2007-10-04 05:00:57 · answer #1 · answered by ? 7 · 0⤊ 0⤋
Additional Credit Card Holder
2016-12-17 12:25:27 · answer #2 · answered by whitmire 4 · 0⤊ 0⤋
Rules have changed. Being an authorized user on someone else's credit card won't help your credit score. Being made joint on the cards would give you that card's history.
It sounds like you're carry balances on several cards. Good that you're paying more than the minimum; bad that you have balances on multiple cards. Put the extra money on the highest interest rate card, while making minimum payments on the rest. When the highest rate card is paid off, move to the next. When you get those cards paid off, only charge what you can afford to pay in full every month.
2007-10-04 05:02:20 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
Yes, it definately can help your credit if you are added to someones credit card or loan. I know my father added me on a loan he took out when I was in high school and since he never made late payments and paid it in full it shows up on my credit report as in good standing. I have been told that is a really good way to help build or improve your credit. Of course if the payments are late and if they owe to much it can also help bring your credit score down. So be careful and make sure that those payments are always made on time.
2007-10-04 05:06:54 · answer #4 · answered by ronnie75 1 · 0⤊ 0⤋
In the past it would have but recent new law will make it useless to do so. If you were lucky you got in before the change and may still see a difference. The best way to check is to get your credit report every couple of months and see what is going on. Go to www.annualcreditreport.com to get the free ones once a year.
2007-10-04 13:38:00 · answer #5 · answered by wife2denizmoi 5 · 0⤊ 0⤋
Yes, he good credit will help yours. Because he is the primary account holder and your name now had added to his. It also work the other way, if he stop paying his bills on time, your credit will get worst. So keep up the good work on paying on time and paying more than minimum. Acutally you want to pay either the minimum required or the interest accrued whichever is higher. This would help you to pay off the debt too.
2007-10-04 06:29:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋
specific, being extra as a cardholder is the comparable as having the account. you undertake that persons credit till they have some thing of their call then they'll stand on their own credit.
2016-11-07 06:04:56 · answer #7 · answered by ? 4 · 0⤊ 0⤋