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Im trying to google it, but cant find a definitive answer. What will happen to the authorized users if the primary user closes the credit card account?
The AU is cut off and their cards are cancelled.
You won't be able to use the card anymore, for one. I know that if you are removed as an authorized user for the card, the whole account gets taken off your credit report. I would assume (but I'm not positive) that a closed account will be taken off as well.
@TRC_WA wrote:The AU is cut off and their cards are cancelled.
Is that bad on their report?
@Anonymous wrote:
@TRC_WA wrote:The AU is cut off and their cards are cancelled.
Is that bad on their report?
That depends. The account would go away, so your credit score will be based on whatever remains on your credit report.
@Anonymous wrote:You won't be able to use the card anymore, for one. I know that if you are removed as an authorized user for the card, the whole account gets taken off your credit report. I would assume (but I'm not positive) that a closed account will be taken off as well.
Gets taken off as in with no sign of it being opened at all?
@Anonymous wrote:
@Anonymous wrote:You won't be able to use the card anymore, for one. I know that if you are removed as an authorized user for the card, the whole account gets taken off your credit report. I would assume (but I'm not positive) that a closed account will be taken off as well.
Gets taken off as in with no sign of it being opened at all?
Unless the creditor decides to remove the account, usually it remains on your report for 10 years and will still get credit for the account assuming it was paid on time.
Thank you for the answers !
@Anonymous wrote:Im trying to google it, but cant find a definitive answer. What will happen to the authorized users if the primary user closes the credit card account?
You will disappear. You will no longer exist anymore and vanish from history. No one will know who you were and all records of your existence will not exist. This creates a bit of problem if you have any children, especially if they need a ride to school tomorrow.
@TiggerDat wrote:
@Anonymous wrote:Im trying to google it, but cant find a definitive answer. What will happen to the authorized users if the primary user closes the credit card account?
You will disappear. You will no longer exist anymore and vanish from history. No one will know who you were and all records of your existence will not exist. This creates a bit of problem if you have any children, especially if they need a ride to school tomorrow.
lol. From a credit standpoint, accurate, but I've never heard of losing AU status being related to the rapture.