Authorized users

[Crazy tools]

I have the Amex blue card and was thinking about adding on friends who don't have cards as authorized users so they can rent cars for Purim, I was just wondering if cancelling the cards after about a month or two will have any effect on my credit score.

[Dan]

I have the Amex blue card and was thinking about adding on friends who don't have cards as authorized users so they can rent cars for Purim, I was just wondering if cancelling the cards after about a month or two will have any effect on my credit score.

I don't think having authorized users will affect your credit score.

[Evan]

Cancelling will have no affect on your credit. If anything goes wrong with the car rentals that will definitely be on your credit even if you remove the autorized ones later.

[Crazy tools]

If anything goes wrong with the car rentals that will definitely be on your credit even if you remove the autorized ones later.

I called Amex and they said if one of the users crashes it will not effect my credit, and they also said that the authorized user can fill out all the paper work for insurance, so I don't have to go through the hassle.

[SuperFlyer]

Do me a favor and think it over 10 times before adding someone.

I know earning points sounds like fun, however, turning up for the invoice in case it goes wrong is painful.

Even if the guy is honest, you might still end up with:"my friend promised me that he would pay me back this week, i cannot believe he didnt keep his word...."

I'm telling you this, as Ive been a victim myself.

[Crazy tools]

Do me a favor and think it over 10 times before adding someone.

I know earning points sounds like fun, however, turning up for the invoice in case it goes wrong is painful.

Even if the guy is honest, you might still end up with:"my friend promised me that he would pay me back this week, i cannot believe he didnt keep his word...."

I'm telling you this, as Ive been a victim myself.

thanks I know what you mean, but this would just be to use for a rental which is paid up for by the yeshiva

[Evan]

I called Amex and they said if one of the users crashes it will not effect my credit, and they also said that the authorized user can fill out all the paper work for insurance, so I don't have to go through the hassle.

Maybe I wasnt clear enough. What I am trying to say is if for whatever reason there is a late payment from an autorized user even if you remove that card it will still be on the primary card holders account. Obviousley just an accident doesnt go on a credit report.

[MisterHock]

if im an authorized user, and the primary card holder has a debt, does that affect my credit/score?

[AsherO]

if im an authorized user, and the primary card holder has a debt, does that affect my credit/score?

It might. AFAIK if he has good credit it makes you more creditworthy, so it probably works both ways.

[mancunian]

if im an authorized user, and the primary card holder has a debt, does that affect my credit/score?

yes.

[elikay]

yes, personal experience.

[MisterHock]

thanks guys for all the help
does it make a differance if the card is on amex where
the user gave a ss# or visa where no ss# was given?
thanks!

[AsherO]

thanks guys for all the help
does it make a differance if the card is on amex where
the user gave a ss# or visa where no ss# was given?
thanks!

You're welcome, HTH.

If no SSN was given, I doubt it would affect their credit.

[MisterHock]

if i was an autherized user for half the lenth of my credit history on a card that has debt,
is it worth it to be removed from that card, or will that affect my credit even more?
thanks!

[AsherO]

if i was an autherized user for half the lenth of my credit history on a card that has debt,
is it worth it to be removed from that card, or will that affect my credit even more?
thanks!

I don't think debt is so bad on credit history if it is low-utilization (i.e. less than half the credit line on the card) and (minimum) payments are never late.

[MisterHock]

what about if it is not low-utilization?
thanks

[AsherO]

what about if it is not low-utilization?
thanks

I'm no expert, sorry.

[MisterHock]

thanks for all your help though....
if anyone else is able to help, i would appreciate it
thanks

[AsherO]

thanks for all your help though....
if anyone else is able to help, i would appreciate it
thanks

Why don't you get a look at your report/score/analysis and see how it shows?

[MisterHock]

i am doing that right now and just want to hear from some people
what they think before i do anything