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Hi

Don't know if this is the right place to post.

I have a not so good credit rating and a company I work for want me to be placed as an authorised user on there bank account (very small) company it would give me a debit card and online banking. As I would only be an authorised user and own 0% of the company would my record be linked with those also named on the account. Obviously do not want to affect there credit worthiness with my own credit record.

 

Many thanks

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Hello and Welcome,

 

It's not something I know a lot about but , being an authorized user on an account can help your score, but only if the company reports it to one or more of the national credit reporting companies. However, not all Banks and credit card companies choose to report authorized user accounts.

 

You may need to ask the creditor about its reporting policies.

 

Including someone as an authorized user on an account will not affect your credit scores, even if the other person has a poor credit history.

 

Separate credit histories are maintained for each individual. Accounts are reported with the names of each individual who is associated with that account. The account then becomes a part of each individual’s credit history and includes the type of association they have with the account, such as authorized user. When a person is added as an authorized user the account will appear in that person’s credit report.

 

If both your names are not on other shared accounts, nothing from their poor credit history will be added to yours, and your good credit history will not be added to theirs. The only change will be the addition of the authorized user account to their credit history.

 

Credit scores are calculated using information from your credit history. Because none of the other person’s credit history is combined with yours, making them an authorized user will not affect your credit scores. Because many scoring models do not score authorized user accounts, they may not help the other person.

 

According to Experian.

 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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Hello and Welcome,

 

It's not something I know a lot about but , being an authorized user on an account can help your score, but only if the company reports it to one or more of the national credit reporting companies. However, not all Banks and credit card companies choose to report authorized user accounts.

 

You may need to ask the creditor about its reporting policies.

 

Including someone as an authorized user on an account will not affect your credit scores, even if the other person has a poor credit history.

 

Separate credit histories are maintained for each individual. Accounts are reported with the names of each individual who is associated with that account. The account then becomes a part of each individual’s credit history and includes the type of association they have with the account, such as authorized user. When a person is added as an authorized user the account will appear in that person’s credit report.

 

If both your names are not on other shared accounts, nothing from their poor credit history will be added to yours, and your good credit history will not be added to theirs. The only change will be the addition of the authorized user account to their credit history.

 

Credit scores are calculated using information from your credit history. Because none of the other person’s credit history is combined with yours, making them an authorized user will not affect your credit scores. Because many scoring models do not score authorized user accounts, they may not help the other person.

 

According to Experian.

 

 

Hi

 

thank you for your response, one more thing as an authorised user of this account if my problems escalate, is there anyway in which the account would be vulnerable?

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If you continue to use the account you are to be added to as a authorised user in line with the creditors Terms and Conditions I can't see you having any problems.

 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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If a financial link is made what information of mine would appear on their credit report, as concerned any defaults or ccj's on mine would show up on theirs informing them of my financial.. Is it the same for all 3 agencys

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