I have a question of credit cards...?

Question

i have a credit card but i don't pay the bill...one of my relative pay for it. i rarely use it cuz it's too much. i was wondering do i have half the credi?t and of couse he will have credit but i was wondering do i get some at least since it's under my name...thanks for your time!

Answer 1

Credit cards work like this:  You can be a co-owner of a card, where the bank will have your ss# on file and will do a credit check on both of you to determine credit limits, OR, you can just be an authorized signer on the card.  Authorized signers do not undergo a credit background check, and are not card owners.  They are not responsible for the debt of the card.  The owner of the card has set them up as users of the card.  If you are unaware of what your status is, you may want to talk to the relative who pays the bill and find out more about your relationship to the card.  

Answer 2

Who ever signed the agreement to get the credit card and pay for it (and it can be more than one person) gets the credit. It isn't divided in halves or any portions.

The way it usually works is that if you are over 18, and you sign saying you will pay, or help pay, for the credit card charges, then you are 100% responsible for it being paid. It doesn't matter to the credit card company who pays it as long as it gets paid. But if you and someone else have agreed together to some terms or to paying some portion of it, and the other person doesn't pay their 1/2, the credit card company can--and will--make you pay it. The credit card company would report the way the card was paid (good, bad, etc.) on your credit record.

If someone else applies for and gets a credit card in their name and adds you as an 'authorized user,' then you probably would not be responsible for paying the card, but the credit card company would still report the way the card was paid (good, bad, etc) on your credit record.

Either of those could affect how easy it is for you to buy things on credit in the future.

As far as reporting your credit record to the credit bureaus (which is what you mean when you say "Do I have credit?"), anyone's name who is on the card gets their credit history reported to the credit bureaus. A company you apply for credit to later can ask the credit bureaus about your payment history (credit report), and the credit bureau will tell them if you paid your other credit on time or not.

If you pay on time then you are more likely to be able to 'get credit' which means you will be more likely to be able to buy something in the future on credit.

Answer 3

no it doesnt matter who pays it

is it under his name as well?? cause then if afffects his credit score to other wise its only on your credit....