Authorized-user credit card plans can be useful, and abused

Courtesy USATODAY.com Money - Block  Mon, 08/11/2008 - 19:17

But in the world of credit reports, an "authorized user" is someone who is allowed to use another individual's credit card without being responsible for the bill.

That sounds like a sweet deal for the authorized user. But millions of people with good credit use this strategy to help their children or spouses build a solid credit history.

Thanks to a recent turnaround by Fair Isaac, developer of the widely used FICO score, this avenue to good credit will continue to be available.


 

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