Comments on: What’s Wrong With Your Credit Report?

By: Ryan

Ryan — Thu, 11 Sep 2008 01:50:46 +0000

Thanks Moneymonk! I’ve been debating for a while if I should change it. This gives much more space to do some things and figured I could always go back.

By: Moneymonk

Moneymonk — Wed, 10 Sep 2008 20:57:23 +0000

love the new design, I may have to take it for myself

By: Ryan

Ryan — Tue, 09 Sep 2008 01:00:37 +0000

Recently FICO announced that they will again consider authorized users in the credit score calculation. However, they altered their scoring system so it will not take into account people who abuse the system.

By: jordan

jordan — Sat, 06 Sep 2008 20:26:50 +0000

If I am not mistaken, in most states you are responsible for any
debt incurred on a credit card by your spouse, regardless if your
name is on the account or not. The debt is considered marital debt
and creditors may come after you too. An authorized user is
authorized to use the account but is not liable for the debt. Your
FICO score can increase by being an authorized signer because it is
used to calculate your score. FICO was considering removing this
loop hole because of the potential for abuse – people with low FICO
scores were purchasing the right to be authorized signers on the
accounts of people with good credit in order to temporarily
increase scores. In order to close this loophole, FICO decided to
stop using authorized user status in the calculation of the FICO
score.

By: Frugal Dad

Frugal Dad — Fri, 05 Sep 2008 13:34:22 +0000

I’m an authorized user on one of my wife’s credit card accounts
(not a co-applicant). Why does her card list under my bureau report
(it’s also included in my debt total). I thought as an authorized
user I was merely able to use the card, but not financially
responsible for the balance?