What happens to Credit Card of deceased with 1 Authorized user & $0 balances

[Anonymous]

If child is the Authorized User of a parent's credit cards (CL are $10,000 + per card) -

All balances have always been deducted in full from bank account so credit cards have a $0 balance.

What happens? Is it automatically closed after death is reported? Is Authorized User offered to become the primary (which is what I have heard)

How does this affect the credit score and AAoA of Authorized user? Will it no longer be factored into the credit report and score? Or will it show as a closed account?

Thanks 

[itguy_65]

Depends on the creditor. Some will let you assume the debt, otherwise notice of death closes the account. You will need to speak with the creditor to find out.

[ojefferyo]

Usually it's close because the T&C were for the original card holder.

[Anonymous]

wow~

[Anonymous]

What are your scores? what cards do you have? you should apply for something now if you don't have many HPs, maybe with the same bank if your score isnt great....

[emptypockets]

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@Anonymous wrote:

If child is the Authorized User of a parent's credit cards (CL are $10,000 + per card) -

All balances have always been deducted in full from bank account so credit cards have a $0 balance.

What happens? Is it automatically closed after death is reported? Is Authorized User offered to become the primary (which is what I have heard)

How does this affect the credit score and AAoA of Authorized user? Will it no longer be factored into the credit report and score? Or will it show as a closed account?

Thanks 

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Some creditors MAy offer the AU to switch account into their name under the same terms as the deceased. It depends on the creditor, you will not know until you call them to report the death and close the account. I got my first AMEX this way, in 2007.

[Anonymous]

relax.. My parents are alive & well. My father wants me to find out these things before he adds me as AU to 2 cards and for when I add my son as AU to mine. 

[Anonymous]

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@Anonymous wrote:

What are your scores? what cards do you have? you should apply for something now if you don't have many HPs, maybe with the same bank if your score isnt great....

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Scores are 638/666

I have an Auto Loan, Discover, Capital One, 3 store cards (recently acquired to increase my credit history).

Last hard pulls are once in 2013 once in 2014 and once Jan 2015. TCL is 12500 & 5%utilization. 

My Father wants to help me improve credit history for future home loan he has 30 years great credit history 800 with 2% util. But he is worried adding me might hurt me in the future if he passes. He doesnt want me to, but I was planning on apply for a BOA Visa, but I dont know if i should go for a 2nd hard pull for the year.

[Anonymous]

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@ojefferyo wrote:

Usually it's close because the T&C were for the original card holder

ok thanks. May I ask what T&C stands for.

[Josh611]

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@Anonymous wrote:

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@ojefferyo wrote:

Usually it's close because the T&C were for the original card holder

ok thanks. May I ask what T&C stands for.

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