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Established Member
Posts: 20
Registered: ‎06-14-2008
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Primary account holder dies?

Forgive me if this has already been asked. I searched and could not find anything.
I am an AU on my grandmother's 29 year old Chase account. I do not make purchases or pay on it. She added me so I could make purchases for her if needed.
She's over 80 years old and I'm wondering what will happen to the account when she passes in a few years? When we set up the AU, the CSR asked if I wanted to be an AU or I believe what they called a "co-applicant" or "co-account holder". Would changing my status on the account change the outcome?
Of course I would like to carry on with the account, but I'm not sure if that is possible since I'm under 29 years old lol.
Not applying again until August 2009, and only then with a 700+ credit score!! Wish me luck..... ugh.
Established Contributor
Posts: 662
Registered: ‎09-07-2007
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Re: Primary account holder dies?

In a few years....My Grandmother lived to be a 104 years old. Anyway I read a thread a couple of Months ago where someone Grandmother died with them being a AU and they let that person take over the account.
Advice is what we ask for when we already know the answer but wish we didn't.
Established Contributor
Posts: 853
Registered: ‎03-21-2008
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Re: Primary account holder dies?

Ask your G.Mother to add you as a joint account holder.  That way if something happens to her, you can keep the account. 
07/26/2007 TU-688
Regular Contributor
Posts: 104
Registered: ‎08-06-2007
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Re: Primary account holder dies?

Wouldn't making yourself a joint account holder mean that you would be responsible for ALL charges on the account?   So if your grandmother dies you'd have to pay the card off legally?   I think that as an authorized user you're not responsible for charges, but as a joint account holder you are.  I'd check into that.
Belver (best financial adviser I ever heard!)
Love never fails......hope is always there.
TU: 569 EXP: 566 EQU: 564
Goal 750
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: Primary account holder dies?

Yes, bears, that is true. It this case he is desiring to take over the card so he would have to pay the charges on it anyway. I am very skeptical of any process by which you try to bolster your credit standing by piggybacking on anothers achievements. Many times this results in damaging the one in better standing rather than boosting the lesser. AND: JUST SAY NO TO JOINT ACCOUNTS! THEY ARE BAD BAD BUSINESS!

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