topic Re: Converting an Authorized User Credit Card to Primary in Credit Cards

Converting an Authorized User Credit Card to Primary

Anonymous — Tue, 18 Aug 2020 00:31:46 GMT

Hello everyone,

I started building my credit with one of my parents as an authorized user to my parents AmEx Gold credit card about 10 years ago. That's my account with the longest credit history.

My parents now are thinking of closing that account, which presumably would take a hit on my credit score. Does anyone know if it is possible for me to retain the credit history and spin off or convert my authorized user status to primary user?

I think I have decent chances of approval with scores ~750, and holding other credit cards (CSR, AppleGS)...

Thanks for the advice!

Re: Converting an Authorized User Credit Card to Primary

Anonymous — Tue, 18 Aug 2020 00:34:42 GMT

That is not a thing

You will still retain the account history/age for 10 yrs after it's closed, so it's not much of an issue

Re: Converting an Authorized User Credit Card to Primary

Anonymous — Tue, 18 Aug 2020 00:36:48 GMT

That is a very good question which I'd like to know the answer to, as well. I have not yet been in such a situation or need, but I can foresee the need and see the value in wanting to do so.

From your FICO score, it sounds like you would be a great positioning for AmEx to offer you the best terms (interest rate, and a favorable SL) on any product they advertise to the public.

Re: Converting an Authorized User Credit Card to Primary

Remedios — Tue, 18 Aug 2020 00:39:19 GMT

You cannot take ownership of the account.

Some lenders remove AU accounts from CR after primary card holder closes it, others let them stay as closed accounts.

If you want this card, you would need to apply for it yourself.

Re: Converting an Authorized User Credit Card to Primary

Brian_Earl_Spilner — Tue, 18 Aug 2020 00:39:29 GMT

You can't transfer the history because it's not your history, it's your parent's history. Doesn't matter if you were the one spending and paying. You were never responsible for the balance.

Re: Converting an Authorized User Credit Card to Primary

blindambition — Tue, 18 Aug 2020 00:39:49 GMT

You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.

Re: Converting an Authorized User Credit Card to Primary

simplynoir — Tue, 18 Aug 2020 00:44:45 GMT

@blindambition wrote:
You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.

This is the only instance I can think of as well where the authorized user can assume control of the account. Short of that, the person has to apply for their own account. A few lenders that do it are Discover and AMEX that I know of

Re: Converting an Authorized User Credit Card to Primary

Remedios — Tue, 18 Aug 2020 00:53:11 GMT

@Anonymous looks like Amex has done this before, do maybe asking them if you could "take over" instead of parents closing the account isn't such a bad idea.

They may need to pull your credit, but that would be a very small price to pay

Re: Converting an Authorized User Credit Card to Primary

Brian_Earl_Spilner — Tue, 18 Aug 2020 00:55:28 GMT

@simplynoir wrote:
@blindambition wrote:
You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.
This is the only instance I can think of as well where the authorized user can assume control of the account. Short of that, the person has to apply for their own account. A few lenders that do it are Discover and AMEX that I know of

Even then, there are still hurdles like credit check, submitting death certificate, etc.

Re: Converting an Authorized User Credit Card to Primary

simplynoir — Tue, 18 Aug 2020 01:01:16 GMT

@Brian_Earl_Spilner wrote:
@simplynoir wrote:
@blindambition wrote:
You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.
This is the only instance I can think of as well where the authorized user can assume control of the account. Short of that, the person has to apply for their own account. A few lenders that do it are Discover and AMEX that I know of
Even then, there are still hurdles like credit check, submitting death certificate, etc.

At least 12-13 years ago when I helped someone with assuming control of their dad's account after he passed away it wasn't as convoluted as I expected it to be but things may have changed since then. But it is possible under those extenuating circumstances, anything else and you may be looking at a hailmary. It doesn't hurt to ask at the very least

Re: Converting an Authorized User Credit Card to Primary

Anonymous — Tue, 18 Aug 2020 01:08:29 GMT

https://ficoforums.myfico.com/t5/General-Credit-Topics/Do-Closed-Accounts-count-toward-AAoA/td-p/5216002

Re: Converting an Authorized User Credit Card to Primary

Brian_Earl_Spilner — Tue, 18 Aug 2020 01:11:21 GMT

@simplynoir wrote:
@Brian_Earl_Spilner wrote:
@simplynoir wrote:
@blindambition wrote:
You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.
This is the only instance I can think of as well where the authorized user can assume control of the account. Short of that, the person has to apply for their own account. A few lenders that do it are Discover and AMEX that I know of
Even then, there are still hurdles like credit check, submitting death certificate, etc.
At least 12-13 years ago when I helped someone with assuming control of their dad's account after he passed away it wasn't as convoluted as I expected it to be but things may have changed since then. But it is possible under those extenuating circumstances, anything else and you may be looking at a hailmary. It doesn't hurt to ask at the very least

No, it definitely doesn't hurt to ask.

Re: Converting an Authorized User Credit Card to Primary

blindambition — Tue, 18 Aug 2020 01:17:54 GMT

@simplynoir wrote:
@Brian_Earl_Spilner wrote:
@simplynoir wrote:
@blindambition wrote:
You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.
This is the only instance I can think of as well where the authorized user can assume control of the account. Short of that, the person has to apply for their own account. A few lenders that do it are Discover and AMEX that I know of
Even then, there are still hurdles like credit check, submitting death certificate, etc.
At least 12-13 years ago when I helped someone with assuming control of their dad's account after he passed away it wasn't as convoluted as I expected it to be but things may have changed since then. But it is possible under those extenuating circumstances, anything else and you may be looking at a hailmary. It doesn't hurt to ask at the very least

Yes, very easy. I was an AU on one of my moms Amex. They said I could provide my ID, SS and death certificate for transfer. Already had own account, so just closed.

Re: Converting an Authorized User Credit Card to Primary

Brian_Earl_Spilner — Tue, 18 Aug 2020 02:01:25 GMT

@blindambition wrote:
@simplynoir wrote:
@Brian_Earl_Spilner wrote:
@simplynoir wrote:
@blindambition wrote:
You should call. I believe it would be a whole new account. The only time I've seen that is when the primary is deceased. Sometimes a lender gives AU a chance to takeover the account. Not all lenders do that.
This is the only instance I can think of as well where the authorized user can assume control of the account. Short of that, the person has to apply for their own account. A few lenders that do it are Discover and AMEX that I know of
Even then, there are still hurdles like credit check, submitting death certificate, etc.
At least 12-13 years ago when I helped someone with assuming control of their dad's account after he passed away it wasn't as convoluted as I expected it to be but things may have changed since then. But it is possible under those extenuating circumstances, anything else and you may be looking at a hailmary. It doesn't hurt to ask at the very least
Yes, very easy. I was an AU on one of my moms Amex. They said I could provide my ID, SS and death certificate for transfer. Already had own account, so just closed.

Wow, that's pretty efficient.

Re: Converting an Authorized User Credit Card to Primary

Anonymous — Tue, 18 Aug 2020 02:18:15 GMT

Thank you everyone! I think I will do that and report back!