Sentences with phrase «way authorized user accounts»

It's legal, although the all - inclusive way authorized user accounts are reported has led to some unintended consequences.

Not exact matches

The easiest way to do that is to get added as an authorized credit card user on someone else's account.

The only way to get an «aged» revolving history would be to have someone add you to one of their accounts as an authorized user.

One way is to become an «authorized user» on accounts of family members or friends who already have good credit.

Authorized user: Another way for you to get a credit card after bankruptcy is to become an authorized user on a card account belonging to someone else, such as a partner, parent or close famiAuthorized user: Another way for you to get a credit card after bankruptcy is to become an authorized user on a card account belonging to someone else, such as a partner, parent or close famiauthorized user on a card account belonging to someone else, such as a partner, parent or close family member.

Commonly known as «piggybacking,» adding an authorized user to an established account with good credit history is a way to «cheat» the credit score.

With authorized user cards, when you're added to an account in this way, you are typically not held responsible for the debt and there are no credit requirements.

These two roles go by many names, such as primary, applicant, co-applicant and authorized user, with, interestingly, no uniformly consistent set of terms used by card issuers to describe these two major ways in which credit accounts are shared.

Despite not being legally responsible for the debt, all history associated with an account held in this way is added to the authorized user's credit file and included in any credit scores based on that file.

FICO hasn't provided any public detail on that aspect of their scoring logic but many believe they've figured out a way to sniff out scenarios where people have been adding an authorized user to credit card accounts where there's no legitimate relationship between the two consumers.

The only way to get an «aged» revolving history would be to have someone add you to one of their accounts as an authorized user.

The term «piggybacking» refers to the way in which the entire credit history of an account is not only included in the primary cardholder's credit report and score, but also becomes part of the authorized user's report and score.

So, Kevin and Eli, now that you probably know more about piggybacking than you ever thought you would, you may want to simply consider the authorized user option as an easy - to - implement, minimal - risk way to build or rebuild credit — whether or not you intend to use or help manage the account — and with an easy way out, should the relationship go bad.

While opening a credit card in your own name is the most direct way to be sure that credit account factors into your history, another option is to become an authorized user on one of your parents» credit card accounts.

Another way to add a line item to your credit reports is to become an authorized user on someone else's account.

Another way to get a quick credit increase if your personal credit history is poor is to ask to become an authorized user on someone else's account.

One way to begin trying to build credit is being an authorized user on a credit card account.

Clearing authorized card user account information — The simplest way to remove negative information generated from an authorized user account is to be removed from the account... (See Authorauthorized card user account information — The simplest way to remove negative information generated from an authorized user account is to be removed from the account... (See Authorauthorized user account is to be removed from the account... (See AuthorizedAuthorized user)

Video: 3 ways to help your kids build credit — Add a child as an authorized user, establish a checking account, and help them learn about money... (See Kids and credit)

Cathleen McCarthy: Authorized users can't access rewards without special permission — If you're an authorized user on someone's credit card, the only way you can access the rewards points for the purchases you've made is if the primary account holder gives you special access... (See Authorized users anAuthorized users can't access rewards without special permission — If you're an authorized user on someone's credit card, the only way you can access the rewards points for the purchases you've made is if the primary account holder gives you special access... (See Authorized users anauthorized user on someone's credit card, the only way you can access the rewards points for the purchases you've made is if the primary account holder gives you special access... (See Authorized users anAuthorized users and rewards)

Not only is it important for both of you to understand what can happen when mixing your finances in this way, but, as you'll see, different cards offer different options and levels of account access for authorized users.

These cards come with no additional benefits but are just a way to have authorized users, really it never made any sense to pay Amex to let you have more people spend money on your account.

Issuers of reward credit cards are offering a new way for cardholders to boost their reward points: by adding authorized users to their accounts.