if you are an authorized user for another CC? Example: My dad has me listed as an authorized user for his newly opened Capital One CC. If I was to go and apply for my OWN capital one card...will i be able to be approved or would they deny me because I am already an authorized user on another Capital One Card? Thanks in advnce for your replies!
-
-
Back in the day, I had two Discover cards so I don't think you'd automatically be denied your own CapOne CC. Plus, the other account isn't yours - you are just an authorized user and have no legal obligation to pay on the account.Originally posted by jcregs28 View Post
Are you looking just to rebuild credit or do you need your own credit card? If you are just looking to rebuild, your dad's account will report on your credit file and you wouldn't need your own CC.CH7 Filed 2/26/2009 (no asset)
341 Meeting 4/7/2009
Discharged 7/10/2009
Closed 7/28/2009 -
I'm looking to rebuild..I am one month discharged from bankruptcy.Comment
-
i wouldnt think it helps at all to be an authorized user and want to open your own account. as an authorized user, you have zero obligations associated with the acct and in turn gain zero credit from it. im 1 week since discharge and cap1 is going to unfreeze my cc i had with them(zero bal when i filed, $10500 limit). they lowered the limit to $500 with interest at 29%. another option is if your dad has some spare money to loan you. have him give you $1000 and buy a CD with a bank that will then let you use that as collateral. most will issue a card with a limit matching the CD value. he earns the interest along with his $1000 at maturity. by then you have established some credit and your dad made some money on his "investment"Comment
Comment