Authorized user
macy
Rep Points: 500
Does having a family member to be an authorized user can help with building your credit score? Especially if that person have a good checking account status?
When you say an authorized user do you mean a user on your credit card account? There is a method in which you can add the payment history of your credit card to a family member's credit report by making them an authorized user (you must call the credit card company and have them do this...it will require them taking the family members social security number). Keep in mind if you start to make late payments this will also affect the family member's credit. Checking account status is irrelevant for this.
I agree. But I will say that anytime I have had a co-signor or additional user on any account it has only helped my credit.
macy
Rep Points: 500
Oh how about having a supplemental credit card from in laws? We have the same credit limit but how we perform on our credit will also affect the one in my in laws right?
neol
Rep Points: 250
Yes it will. If your repo falls his will also fall and vice versa.
It is better not to have anything like that, you may land in problems in future!
unless you trust them, if it is family that is one thing. but it is always risky to share money/credit with ANYONE.
Even its from your immediate family? Oh I see maybe it depends some family members don't participate well.
