My boyfriend put me as an authorized user on our store card, and it appeared on my credit report. Now, the good thing is of course, that as long as payments are made on time, if this continues, then it shows positive history. But my question is, is this piggybacking? Isnt that deleted now? And if so, then why is it showing on my credit report? Obviously, adding more good history is NOT a bad thing, but Im a little confused?
2007-10-30 12:05:56 · 4 answers · asked by Nicole L 2 in Business & Finance ➔ Credit
It still shows on your report but it isn't used to calculate your score.
2007-10-30 12:15:16 · answer #1 · answered by bdancer222 7 · 2⤊ 1⤋
From what it sounds like, he actually gave them all of your information...social security numbers etc. and added you to the card as a card holder. This means, that you will benefit from the additional trade line but means that if the balance is high or a late payment is made then it would affect your credit. Remember that credit cards are not always a good thing; they can sometimes damage your scores instead of helping it. I would recommend calling the card company and ask them directly if you are just an authorized user of the card or if you are personally liable for the charges on the card.
2007-10-30 19:20:22 · answer #2 · answered by laguy82 2 · 1⤊ 1⤋
I agree with LaGuy.....you need to make sure he didn't add you as a co-signer. If he did, you will both be responsible for any unpaid/late balances....and you may be affected more negatively than him......I'm in Wisconsin...and that would be the case here....might be different where you are...but you do need to call and find out.
2007-10-30 19:38:40 · answer #3 · answered by brewctred 2 · 0⤊ 0⤋
I don't know if he was being nice, or going to max it out
and then run out on you and say you made all the purchases
so I would keep the receipts. You are responsible for
the card as much as he is.
2007-10-30 19:23:41 · answer #4 · answered by Anonymous · 0⤊ 1⤋