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Effect on an authorized user?

New Contributor

Effect on an authorized user?

If a relative has been an authorized user on a Capital One card for years (reports to their credit report) and then they are removed as an AU a week before the primary card holder files for bk7, is the account simply removed from the AU's credit report or is it updated to IIB on their report as well? 

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Super Contributor

Re: Effect on an authorized user?

Because your authorized user isn’t financially responsible for charges to the account, your credit report won’t be damaged if he or she declares bankruptcy. Call your credit card issuer and ask if your joint account holder can be removed from the credit card agreement. Some issuers will approve this request, and you’ll be able to keep your account and keep your credit intact. The account isnt going to help them after DC really. You can add them back once the smoke clears. Why chance it. Better to be safe than sorry.

Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
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