Building Credit

[YaakovR]

I'm trying to help someone build credit, by adding him to my credit card as an authorized user.
Was just wondering, if in order to build his credit must I use specifically the card with his name or that doesn't matter? And if not, perhaps it differs with Amex because each user has their own card number?

[notanonymous]

I'm trying to help someone build credit, by adding him to my credit card as an authorized user.
Was just wondering, if in order to build his credit must I use specifically the card with his name or that doesn't matter? And if not, perhaps it differs with Amex because each user has their own card number?

You do not need to use the card.  The card limit, low (or no) balance, and date of account will help build credit.  The different card numbers do not matter.

[ckmk47]

Elsewhere it says to make him, not an authorized user, but somehow responsible for the account.

How is this done?  I call the cc.  What info do I need? His ss#, I assume. 
They'll just take my word that he is now taking responsibility for my cc bill?

[raphy781]

Elsewhere it says to make him, not an authorized user, but somehow responsible for the account.

How is this done?  I call the cc.  What info do I need? His ss#, I assume. 
They'll just take my word that he is now taking responsibility for my cc bill?

IIRC with Chase you can make someone a co-owner of the account.

[ckmk47]

IIRC with Chase you can make someone a co-owner of the account.

OK. It's called co-owner.
How do I do it?  Is this only with Chase or other cc's will also let co-ownership? (My oldest cc is citi and is almost as old as the child who's credit I want to build.)

[shnazzw]

big problem! i have been added on my moms discover card as an authorized user. and someone over maxed the credit card and now my mothers paying high interest fees! WILL THIS AFFECT MY CREDIT SCORE?

[yuneeq]

big problem! i have been added on my moms discover card as an authorized user. and someone over maxed the credit card and now my mothers paying high interest fees! WILL THIS AFFECT MY CREDIT SCORE?

It might

[Lazegotit]

It can.... But in my opinion if you apply dr a discover card you will still get approved, not sure bout other banks though...

[shnazzw]

Well I just applied to a ba visa chase card, I'll see what happens.

[ckmk47]

Well I just applied to a ba visa chase card, I'll see what happens.

Today!  Apply for another chase card on a different browser.  It will not cause another 'pull' on your credit report.(On the same calendar day.)  That's the idea of a 2/3 BM.  Maybe you'll be approved for both? If not you can call chase reconsideration.

[ckmk47]

Bad news!  Chase no longer lets you add a co-owner!  That's what the phone rep said.  Maybe later I'll HUCA, but if this is true, it's one fewer thing in the build credit arsenal.

[Dan]

Bad news!  Chase no longer lets you add a co-owner!  That's what the phone rep said.  Maybe later I'll HUCA, but if this is true, it's one fewer thing in the build credit arsenal.

Who cares?

[CountValentine]

Who cares?

Those who believe that AU's do not help?

[good sam]

Those who believe that AU's do not help?

Which belief system is that a part of?

[zh cohen]

Which belief system is that a part of?

The same one that includes the belief that "you can only get the bonus for a card once"? ;-)