02-02-2013 09:33 PM
02-02-2013 09:40 PM
You will have full responsibility for the AU's debt not them.
The lender cannot see your AU's credit because you will add them after the fact
02-02-2013 10:58 PM
02-02-2013 11:25 PM
An Authorized User is someone YOU allow to use your account. You add them and the credit card company gives them a card WITHOUT looking at their credit. In return and as a basis for that action, the credit card company will hold YOU responsible for any and all charges that the Authorized User makes.
The credit card company will bill YOU, not them. As far as I know (I have been an Authorized user for several years) the bill is never "split" and in fact is always sent to the account holder (you).
If you allowed someone to be an authorized user on your account, you have accepted full responsibility for any charges which that Authorized User approves or makes.
Be very clear...you not them is responsible and it is you not them whom the credit card company will seek payment from.
If I am wrong, it will be news to me.
02-02-2013 11:33 PM
Sometimes a lender will perform a soft pull, but never a hard pull. I have seen soft pulls with AmEx and with USAA when adding an AU.
The other person's credit history or lack thereof is generally irrelevant except for AmEx. If they have caused AmEx a financial loss in the past, AmEx will not allow them to be added as an AU. Navy Federal will sometimes do this, too.
Although you are fully responsible for any charges the AU makes, some banks hold AUs legally liable for their purchases in the event you do not pay. USAA does this as does, sometimes, AmEx.
02-03-2013 11:59 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.