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Additional Details
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im 21, about to graduate in next few months. (UK)
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Danj3ris D | Can requesting an additional card in someone elses name while applying for a card establish credit for them? |
And I dont mean opening a joint account, or co-signing. |
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asreid14
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Trust me on this one because I am speaking from experience. My credit was first established at 17 when my parents added me on as an 'authorized user' (not a joint account holder) on their credit card. Their card reports onto my credit reports. They didn't even give me the card, they did it with the sole purpose of establishing a good credit record for me, which worked.
I monitor my FICO scores regularly and the balances on their credit cards definitely have an affect on my FICO scores - they pay their card off and my FICO score goes up, they carry a balance my score goes down (I rarely use my credit cards so I know its not my CC balances that make the score drop).
I added my younger cousin as an 'authorized user' on one of my Citi credit card accounts and it is the only thing on his credit report. He has a FICO score which is based solely on this credit card, and therefore is helping to establish his credit history. Of course, whether the card will report varies based on the card issuers' policies.
Below is a link to a message board thread on credit companies that report to authorized users' credit reports:
http://creditboards.com/forums/index.php?showtopic=9257&hl=authorized+user |
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4XTrader
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The first two posters are correct, but if you get a joint account, the person would never use your card and all your credit history transfers to their credit file.
Here's what I mean, I did this for a friend of mine and I helped him established AAA credit in 30 days.
I called my credit card company and told them I wanted to put him on as a Joint Account owner, not an authorized user. They sent 2 sets of forms, 1 set for me to fill out and 1 set for him. I mailed them back and a short time later, the credit card company sent me his card. I immediately cut up the card and threw it away. He never even saw the card, didn't even knew I got it in the mail. Well, the next time the credit card company went through their reporting cycle, all of my good credit on that card was transfered to his account. He then applied for a credit card and got a gold card with a $5000 line of credit. I then called my credit card company and had him removed as joint owner and me as sole owner again. He never saw the card, never used the account, but all my history became his and he established A1 credit quickly. |
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K B
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believe it or not, if the card is in good standing, yes. i know someone who knows someone whose husband was added to someone's american express (the account had long been established) and when the credit check was done that account in good standing was counted on that persons credit. and, since the time it was opened.
that account is still on his credit report! |
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my2sense 793
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an additional card CAN go on the other person's credit report. it depends on the reporting policy of the issuing company. if the account goes into default, the credit agencies will get both names. That's why they ask for SS#.
Happened to one of my co-workers. |
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Chunkerbutt
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It establishes credit for the person who has their name on the account. You can have mutiple cards but who ever is the account holder is legally responsible for it, and recieves a positive or negative credit score based upon how they pay their account.
If you are trying to establish credit for the first time, id try small retail stores like mervyns, target, even try capital one. Your most likely gnna get one, may not be alot but its something. |
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beachloveric
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No |
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Lisa A
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No. An additional card does not go on the other person's credit report. An account would only go in their report if they were a joint account holder. |
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binda
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requesting card for another person is co signing.NO,it doesn't establish credit for them |
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Daniel B
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nope only a joint account. |
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dalejr8fan
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I have a credit card and have someone listed as an additional card holder. It does not establish someone credit by adding them to your existing account. They primary cardholder is the only person that is reflected when looking at the credit. |
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