So will this help me starting the entire credit process .. It’s my first credit card… but i am wondering why is it that she will get the statements and i have a high limit even though my name is on the card.
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My mother got a credit card under her account but with my name?
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11 Responses to “My mother got a credit card under her account but with my name?”
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She got you a card under her name – her credit history, her reputation.
You have a suprisingly high limit because the bank doesn’t care . If you were to rack up a big debt they would still get their money.
.Mom gets the statements because she is responsible for the account. If there are any problems, Mom has to pay up.
You’re very lucky and have a very nice Mom.
You have a chance now to learn how to use credit wisely.Prove yourself mature and trustworthy.
PS Some people would rather see their kids SAVE up for what they want.
It depends. If she only added you as an authorized user then it will affect your credit in no way. The only thing this will allow you to do is to legally use the credit card. The bill will still come in her name, and the account history and payments will be tied to her name and social security number. You have most likely received the high limit because of your mother’s credit score.
Use the card responsibility and make payments to your mom for anything you buy monthly. While this will not help your credit score, it will get you into a pattern of responsible payments and hopefully keep you from charging (and living) beyond your means.
IF she added you as a joint account holder/owner, then your credit score will be affected by the account’s status, credit limit and available credit, as well as payment history.
it will start building your credit. You have a high limit because it’s ultimately under her name. Your name may be on the card but her name is actually listed on the statements. Dont worry it’s a god thing. after a couple of months, you will be able to get a credit card under your own name without the problem of having no credit
Get your name removed, before your credit is ruined beyond repair.
You can start your own credit when you turn 16, with a prepaid VISA card. By the time you turn 18, and if you are either employed or a college student, you should have no trouble getting a $1000 limit visa or something.
Your credit is your credit for a reason, and your mothers is hers for the same reason.
Sounds like you are just an authorized user on her account. This will not help your credit.
The only way it would is if you signed up as a joint applicant, in which case you would know if you did because you have to give the company all of your info and they have to run a credit check.
If the bills are paid on time, and your mother added you as a joint account holder, then your credit will be positively impacted by this.
If the statements only come in her name, then she might have added you as an authorized user. In that case, your credit rating will not be impacted by any actions she makes on the account. As an authorized user, you are able to use the credit card, since you have a card but that would be about all you can do.
I don’t want to diss on your mother because i might be wrong.
In today’s world. With all this turmoil with the economy some parents are using their kids name and social security numbers to apply for credit cards so they can get more credit. This is a very common and everyday thing these days.
I’d ask to see the statement every month and when you do get to see it see what charges have been made on the card. If you haven’t made any purchases then ask your mother to pay the bill in full each time it comes in the mail.
If she gets behind in credit card payments your credit will be totally ruined before you know it.
My ex wife did that to two of our kids and it took nearly 10 years before i was able to get their credit reports corrected before they were out of high school.
Hi, you didn’t state your age, I’m assuming you are young, I would be sure I spend wisely and only when you need it.
If you do not pay your bills and then I assume your Mom will be responsible for the bill.
So just enjoy your first credit and gain your new credit card experience.
Good luck
The account is your mother’s and based on her credit. That’s why the limit is high. You are listed as an authorized user and this will help your credit as long as the account is kept in good standing. If there are late payments, it will adversely affect your credit as well. Therefore, this is good for your credit as long as the account is paid on time.
As an authorized user, you can charge on the account but are not liable for the payment. Your mother as the account holder, is liable for payments.
shut it down immediately
My boyfriends mother got a credit card in his name behind his back without his knowledge at age 18. when he found out she told him that she is helping him build his credit. So he let her do it.
a year later he found out that she opened 7 credit cards and never paid on them. He was left owing almost 20,000. dollars that he didnt do.
creditors were suing him. they wanted to take his car. they also took all his money from his bank accounts. He was left with nothing.
all he could do was bankrupsy and he was only 19 and a straight A honor student in college. He could not even buy his first car he had to pay cash only.
He is now 22 years old. I was able to fight it for him. it was extremely difficult to remove it all. He had to sue his own mother, which was hard to do.
to this day he still doesnt talk to his mother
Even tho i fixed his credit for him he still cannot buy a car. All lending companies say his credit score is to low to get approved due to all the negative activity on his credit report brought his score down. No one wants to take a chance on him to bring the score up. So he still cant buy anything and he didnt even do anything wrong.
even if you are just an authorized user. everything she does wrong on that account shows up on your credit report. if she dosent pay you are responsible. if she pays 1 day late that shows as a negative on your report. EVERYTHING SHOWS ON YOUR REPORT TO.
cp
As an authorized user on her account you have the right to make purchases and you "enjoy" the same credit limit as your mother simply for the fact that you are using her credit limit.
She has to pay all the bills but you have been given the right to make charges to her account.
Since you are not responsible to pay any of the monthly charges you do not receive "credit" for this type of activity and your credit score is not affected at all.
While it lets you use her card as you please… it doesn’t do anything for your credit score.