Here’s What It Means to Add an Authorized User on Your Credit Card
Adding an authorized user to your credit card is a great way to help someonebuild or rebuild their credit. However, it’s important to understand the implications and potential risks involved. What is an authorized user? They benefit from the primary cardholder’s positive payment history. The account’s credit utilization ratio affects their credit score. The length of credit history may improve if the primary account is older. Of course, this assumes thatyourcredit habits are strong....