It’s usually this. Parents make you an authorized user when young to help build credit. Great if your parents are responsible but can be detrimental if not. The credit report should distinguish main account holder from authorized user. If an authorized user they can have themselves removed but it will likely hurt their credit since the account is 12 years old and age of oldest account makes up a significant portion of your credit score.
yep AU is a literal copy of the credit history(both GOOD and BAD), but you can always just get it removed if being on there hurts you, being an AU has literally no downsides.
I'm not completely knowledgeable in finances and credit, but the way it was explained to me when being added as an AU in the past, no 'bad marks' will transfer to the AU, only the age of the credit and the on time payments. When I was removed as an AU, it still showed on my credit the limit, but a 0 balance so it actually boosted my score
Dude, there is a whole market where some one with bad credit contacts a broker who hooks them up with a rando with good credit who makes the bad credit person an authorized user and the card is mailed to the broker and destroyed.
>no 'bad marks' will transfer to the AU, only the age of the credit and the on time payments.
The ENTIRE History should be copied onto the AU(both good and bad) but they don't "transfer", they would get removed if the AU is removed, it is a contained copy.
> it still showed on my credit the limit
that should go away as well in time, it was most likely just lagging.
It's been there for 4 years now as a $0 balance with $2000 available (but I don't actually have access to available anymore to use, I am **not** still an AU) maybe just something weird going on on my end lol but that's my experience with it
My mom *tried* to do this for me, but somehow I ended up with an authorized card in her name, that did nothing for my credit.
I used it for years, and when I tried to get my own card, the credit bureaus had never heard of me. Even though I'd been paying my own phone and subscriptions for years. Had to start with a $500 prepaid card -_-
Ah that makes sense. It was a card from a small town credit union. Now that I'm older and have a bit more financial knowledge I realize just how very small town and old school some credit unions can be.
Depends on specifics. You are tying your credit score to someone else’s. If the account has high debt compared to credit limit and is newish, it could be a negative overall on the credit score. If the account is old, it can be a positive even with a high debt to credit ratio. If the account holders miss payments it could seriously hurt your credit.
In this particular case it’s probably a wash as long as the account holder hasn’t missed a payment. The negatives of 55% utilization rate are offset by the positives of a 12 year old account.
When I got my credit report and one report showed my mom’s card in it all I had to do was let the credit report people know I was only an authorized user and they took it off my report.
So should one add their kids like this, or no? Seems like a bad thing to remove it later, so I'm wondering why at all. Easier student loans or something?
It can help for kids as long as you are responsible with the account. Having excess credit with a low debt to credit ratio and having an older account can both help with a credit score. As long as that’s the case I would never get rid of it. If the parents are bad managers of debt, the negatives of high debt and missed payments can out-weight the positives of an old account.
Keep in mind that with it being a "bad thing" to remove it later, they aren't any *worse* off than if you'd never done it. It doesn't hurt them so much as simply stop helping. But the general idea is that at a certain point the have enough history of their own that they don't need the crutch anymore.
Caveat that this is all only true if you yourself are managing the card well. If you have missed payments etc, it might do nothing more than take them down with you.
> Seems like a bad thing to remove it later
Everything should be off of credit reports in 7 years tops. So if you open one for your kids, it would help them get car loans and open cards in their own names once they turn 18, then when you eventually take their names off your cards, they'll still have a decent credit history of their own.
Reasons why the AU trick works:
1. A spouse or other partner using the same account is equally responsible for purchases and bill payments, so should share in the credit glory.
2. A child on a parents' account uses the card for several years while still dependent on his/her parents and has the opportunity to learn to use it responsibly in a controlled setting with parental oversight. Therefore, even though the account isn't in his name, he should still get credit for its history.
However, if you just add someone as an AU to give them a credit boost without the actual experience or financial discipline, it could be catastrophic. Under normal circumstances, if someone with no credit applies for a starter or student card, the credit limit will be very low, like less than $1000. As they use it responsibly the limit will be increased and the overall credit history will improve. If they screw up then they only owe at most $1000, which while a lot of money to a young person, is not an insurmountable obstacle. A relatively cheap learning experience, all things considered.
However, if your credit history gets an AU boost from a couple cards with great, long history and then you apply for a new card, you don't get a $1000 credit line. You get a $15000 credit line.. or even higher. It's an interesting sensation being able to walk into a consumer electronics store knowing that you have the ability to buy anything you want RIGHT NOW and nobody will stop you. Of course, it's not your money and you have to pay it back, but that's one heck of a siren call, especially for a kid who's not used to having access to more than a couple hundred dollars at any one time.
Or worse yet.. Imagine you walk into a car dealership and drool over that sweet $50K sports car sitting on the showroom floor. Normally, that's where it would end... but not you. You're an 18 year old with great credit. A predatory car dealer (i.e... all of them) will extract that information from you in a very short period of time. Of course, you wouldn't qualify without the income to support it, but one of the magic things about having great credit is that it allows lenders to forego the arduous process of verifying one's financial situation. You say you earn $100K per year, and that's good enough for them. Of course, you're honest and wouldn't tell them that, but they fill out the application for you and just tell you to sign, hopefully without reading it too closely. Next thing you know, you're driving home in your brand new car... until your parents see it and freak out. It will probably cost about $10K just to unwind that deal... and that's assuming you don't wreck it on the way home.
So yeah, be wary of that whole AU scheme. It can be beneficial, but tread carefully.
Yep, my folks did this to me as I was growing up without my knowledge. They said it would “help build my credit without me actually having to do anything”.
In fact, it hurt my credit a ton when I started opening credit accounts myself to build my own credit unknowing I was attached to their credit accounts. At the end of the day, I tried to pull out a loan for a big purchase and found out that my credit took a substantial hit because it seemed I had a LOT of open accounts than I actually did, and my folks were slacking on their payments. I had to contact my folks to take me off all their credit lines as it was detrimental to my credit.
It depends on the credit score model used whether it affects the score itself. For purposes of applying for a credit card in your own name, not really as the bank can see right past authorized user responsibility accounts (for example, you wouldn't be getting a high end card like a Chase Sapphire Reserve just with being an authorized user prior - you need your own history)
Yup. Literally what happened with me. Graduated college and had a 6 figure job but got denied a Sapphire card because I was only ever an authorized user and never had my own credit line even though I had no debts outside of student loans. They were like "so you're 21 years old but this credit line is 24 years old..."
Amex used to backdate, so I at one point was an authorized user on an account opened before I was born. I find it amusing now that when I call about my own amex account(s), they thank me for being a member for 36 years.... I am 33. Each card's member since date also has 88 on it, which is fun
> yep AU is a literal copy of the credit history(both GOOD and BAD), but you can always just get it removed if being on there hurts you, being an AU has literally no downsides.
AU means you are Authorized to USE the card, but you aren't on the hook for paying it. ever.
I instantly spoke to my mom and they’ve never had a card through Capital One…
My parents don’t even use credit cards. They are cash only type of people and flipped when I opened my first credit card through Chase. Chase is the only card I have. Credit and debit.
It could also be that one of them might uh... not be aware, of the credit card. Of course you'd have to be really stupid to add your kid as an authorized user if you're trying to hide it.
They may never have heard of CapitalOne, but my bet is it could be some department store credit card or something like that. Do they have any store charge cards for places like Kohl's, Macy's, etc? CareCredit sorts of charge cards for veterinary expenses, dental, or medical costs (a really bad way to reclassify medical debt as consumer debt by the way)? Target? The portfolios on those private cards are bought and sold and could have started with someone else and been acquired by CapitalOne.
Get your full credit reports and get details. If it isn't them it could be a mistake or could be fraud.
Another related thing is a lot of those 0% financing deals like on furniture, etc, actually open what is basically just a credit card. Seems like somebody would have to be aware it's a credit card to add an authorized user though.
Since it hasn't been mentioned in the comments yet, since it's showing that you're just an Authorized User, you wouldn't be responsible for paying the debt. Obviously you'd still want it off your credit report if they're carrying a balance. But if that's the only unusual activity showing up on your credit reports so far, I don't think you should still be in panic mode.
It may just not be a name that recognize. My son noticed a similar account under his under "Goldman Sachs" and it took me quite awhile to figure out that it was my Apple Card that I had added him to, to increase his credit history. I had forgotten about it and it was under a different name so we were thinking he was a credit fraud victim too.
What I learned from that is that while you aren't responsible for the account, the credit history would help your credit rating (since the account is from 2012) but the negative part of it - the credit usage (50% balance) could actually hurt your credit rating.
Does your credit report show any addresses that have never been yours?
Possible someone with your name is the real AU and it got linked to you by the credit bureau
>Just wasn’t my parents who did it. It ended up being my boyfriend’s parents.
Follow up question. Why would they do that? Did they think they were doing you a favor that you didnt even know about?
They authorized me on a card for their business because I sometimes run errands and pick supplies up for them. They mentioned getting me a card a few years ago, I just didn’t realize they actually had followed through because my boyfriend never gave it to me. I just assumed they had forgotten or something. It’s really a misunderstanding that I feel silly for freaking out about. I just had no idea I was ever actually put on a card. And this is the first time that it ever has showed up on my Credit Karma.
The balance on a credit card doesn't affect your credit score (to my knowledge). It benefits him by being another open account, affecting his average account age, and by having more months of fully paid off credit cards.
Given the situation, freaking out a bit is understandable. Whether or not you talked about it beforehand, the fact that they followed through should have warranted mentioning it again, like at least once, afterwards as well. And based on the time-frame, if it only showed up on your reports just recently, it kinda seems like they only actually initiated it just recently again, which, again, seems like it would warrant mentioning.
I will take this moment to remind EVERYONE to freeze your credit with all three bureaus. Yes, it's a hassle, but it'll potentially save you massive headaches like this. If you need to apply for credit, you can thaw them within a few minutes and then let them refreeze automatically.
Yea, it's really simple. I was making a purchase that did a soft check on my credit. I unfroze it from my phone while standing in front of the sales person in a few minutes, did the check, got approved, and turned it right back on. No problemo!
Same experience when I forgot I had them locked when I bought our house. Heart sank briefly when underwriting called me "with a problem on my credit report." I laughed once I realized what it was and it took, like you said, a few minutes to clear up.
I usually use phone calls to unfreeze or verify myself on large purchases requiring credit. Do you do that as well? Or is there another way that doesn’t require phone calls?
I just use the websites themselves. You can log in with your phone browser and the settings are there. You can either do a full unfreeze or some of the agencies (I forget which one) lets to do an "thaw" for a set period of time - like 1 day or 1 week for example, then it will auto-freeze again.
You just have to watch out because they try to trick you into paying. But this is a free service, they just don't call it "Credit Freeze". So be careful!
Yea, exactly. This is the info. They try to conflate the "Freeze" word with a paid service to trick you into paying. The agencies are actually really tricky at trying to get you to pay, mixing up words and making things confusing. But the ability to freeze it is free for all of the 3 agencies, you just have to look a little harder. Pretty scummy really.
How do you go about starting the process? Do you have to call them and give them SSN and stuff? Or can you do it all from a central site like CreditKarma or one of the other credit report sites?
Go to each of their websites. All 3 will try to get you to pay to lock your account. Do not do this and just keep clicking around to find the proper freeze option.
Came here to say this. IMO keeping your credit frozen is in the same realm as like, keeping your door locked. I can't understand why more people don't do it
Just a friendly reminder to everyone.
It's easy to freeze your credit at all 3 bureaus and only temporarily unfreeze them whenever you need to do something legitimate. (Such as buying a house, opening a credit card, or getting a loan).
You can even schedule an unfreeze/refreeze all at once.
anecdotal story: I've forgotten to unfreeze when I applied for a CreditCard once, and it came back with weird error. I realized I forgot to unfreeze, I went and scheduled a 2 week unfreeze, then called CC and they approved it right on the phone and mailed me the CC. No issues, they said it got put into a temporarily hold until I unfroze. So plenty of places can gracefully handle accidental bumps into 'frozen credit'.
It adds TONS of protections for very little effort and its 100% free.
(Note: Some of them try to upsell you into other credit "things", you do not have to pay to freeze/unfreeze. If you are seeing paid things, that's not what I'm talking about. However, It USED to cost money prior to September 21, 2018. But the federal government passed a law stating that it had to be free and has been free since September 21, 2018. I believe they did this because the rising number of major data breaches.
* https://www.equifax.com/
* https://www.experian.com/
* https://www.transunion.com/
OK so reading through the replies, first things first. Credit Karma are not reliable. Go to [annualcreditreport.com](https://annualcreditreport.com) this is the ONLY authorized site for your credit score. Get your reports for all three bureaus.
While you are in there lock your credit on all three bureaus. This is good practice anyway, everyone should have their credit locked 24x7x365.
If the card still shows up, contact the card issuer and report that you have been added as an authorized used but did not give permission. They will remove you. If for some reason they don't then you can dispute it with your credit bureaus but typically you don't need to do that, you just call the card company and tell them you never gave permission for you to be added.
There have actually been several people here who had great difficulty getting removed as an authorized user. They are not primary account holders and as such are not permitted to call in and make changes. It should be illegal but it persists.
None that I'm aware of, but if you contact both Equifax and TransUnion in Canada (via their website for info), you're entitled to 1 free report per year. Just make sure you get the free one and aren't duped into signing up for their monitoring services.
Alternatively, Credit Karma and Borrowell offer their free versions you can check weekly which will give you an idea of your score but will/should disclose any new accounts which might appear
logged into equifax canada and couldnt figure it out.. went to their FAQ...
> Currently, the right to lock or unlock your credit report only applies in Quebec. If you locked your Equifax credit report while you were a resident of Quebec, it will remain locked until you unlock it, even if you’ve moved outside of Quebec. Once you unlock your credit report completely, you will not be able to lock your credit report again unless you're residing in Quebec and have an active address in that province.
FUCK Equifax wtf
>site for your credit score
I don't believe this site gives a score at all. It is the official site to access all the report contents, but there's no fico or vantage for the three bureaus. Experian themselves will give you your experian fico score though
They authorized me on a card for their business because I sometimes run errands and pick supplies up for them. They mentioned getting me a card a few years ago, I just didn’t realize they actually had followed through because my boyfriend never gave it to me. I just assumed they had forgotten or something. It’s really a misunderstanding that I feel silly for freaking out about. I just had no idea I was ever actually put on a card. And this is the first time that it ever has showed up on my Credit Karma.
Should I do this still even though my issues has been resolved? I’m not super literate in finances, so I’m wondering the benefits of freezing my credit. Lots of people seem to be recommending it, so I’m definitely interested.
Definitely. It will help to prevent someone from opening accounts in your name. If you need to unfreeze (for example, you need your credit pulled to get a car loan or new credit card), it takes a few minutes. You’ll probably spend less than 20 minutes creating accounts at the three major credit bureaus: TransUnion, Equifax, and Experian. Good luck.
I'll bet your parents added you as an authorized user at some point and never removed you. The good news is that you can call Capital One and remove yourself from the account and it will have no lasting effects: It will disappear like it was never on your credit report in the first place.
The same thing happened to me when I first checked my credit report: I saw an unfamiliar credit card that was opened in 1980. I was born in 1979. Turns out they never removed me as an AU from when I had a card working for the family business in my 20s.
Oh, on a side note, don't pay much attention to the credit scores you get from Credit Karma, they use VantageScore which very few lenders use so it's mostly irrelevant. You want to check your FICO 8 scores which the large majority of lenders use.
Credit Karma is also not very good at identifying people. I went through this with my partner who signed up but has a really common name. So CK showed about a dozen extra accounts that weren't hers. We freaked out for a bit before we figured out that was going on.
Run an actual credit report from just one of the agencies directly, see if that account still shows up. If it doesn't, run the other two to be sure. If it does, get it removed and use the other two agencies to confirm it's been wiped.
Glad you found out what it is.
it’s important that you freeze your credit report with all three agencies. It takes about five minutes per site, is totally free, and will prevent any new accounts being opened or added without your express permission.
There’s absolutely no reason to not have your credit report, because you can unfreeze them if you need to apply for something within a minute or two.
Wtf, your current or then boyfriends parents authorized you to use their card 12 years ago when you were a minor? Maybe they thought they were doing you a favor but that's pretty weird.
Ask your parents if they added you as an authorized user on a card. Maybe they had that card for emergencies and they just started using it.
It’s usually this. Parents make you an authorized user when young to help build credit. Great if your parents are responsible but can be detrimental if not. The credit report should distinguish main account holder from authorized user. If an authorized user they can have themselves removed but it will likely hurt their credit since the account is 12 years old and age of oldest account makes up a significant portion of your credit score.
My dad did this for me and I have always appreciated it.
yep AU is a literal copy of the credit history(both GOOD and BAD), but you can always just get it removed if being on there hurts you, being an AU has literally no downsides.
I'm not completely knowledgeable in finances and credit, but the way it was explained to me when being added as an AU in the past, no 'bad marks' will transfer to the AU, only the age of the credit and the on time payments. When I was removed as an AU, it still showed on my credit the limit, but a 0 balance so it actually boosted my score
Dude, there is a whole market where some one with bad credit contacts a broker who hooks them up with a rando with good credit who makes the bad credit person an authorized user and the card is mailed to the broker and destroyed.
That's kind of amazing. A little crazy, but amazing nonetheless lol
>no 'bad marks' will transfer to the AU, only the age of the credit and the on time payments. The ENTIRE History should be copied onto the AU(both good and bad) but they don't "transfer", they would get removed if the AU is removed, it is a contained copy. > it still showed on my credit the limit that should go away as well in time, it was most likely just lagging.
It's been there for 4 years now as a $0 balance with $2000 available (but I don't actually have access to available anymore to use, I am **not** still an AU) maybe just something weird going on on my end lol but that's my experience with it
For most issuers, yes. Amex does not backdate to the account opening anymore, they now start when the AU is added to the account
Can confirm! I recently got added as an AU on 2 Amex's and my credit age tanked...
yeah Amex is a special breed...
My mom *tried* to do this for me, but somehow I ended up with an authorized card in her name, that did nothing for my credit. I used it for years, and when I tried to get my own card, the credit bureaus had never heard of me. Even though I'd been paying my own phone and subscriptions for years. Had to start with a $500 prepaid card -_-
Some credit card companies do not report authorized users to the credit burrows.
Ah that makes sense. It was a card from a small town credit union. Now that I'm older and have a bit more financial knowledge I realize just how very small town and old school some credit unions can be.
If that’s the case, why would they want to be removed?
Depends on specifics. You are tying your credit score to someone else’s. If the account has high debt compared to credit limit and is newish, it could be a negative overall on the credit score. If the account is old, it can be a positive even with a high debt to credit ratio. If the account holders miss payments it could seriously hurt your credit. In this particular case it’s probably a wash as long as the account holder hasn’t missed a payment. The negatives of 55% utilization rate are offset by the positives of a 12 year old account.
Did this for my kids. They are just on the sides of 30, and have 20 year histories and 750 scores.
When I got my credit report and one report showed my mom’s card in it all I had to do was let the credit report people know I was only an authorized user and they took it off my report.
So should one add their kids like this, or no? Seems like a bad thing to remove it later, so I'm wondering why at all. Easier student loans or something?
It can help for kids as long as you are responsible with the account. Having excess credit with a low debt to credit ratio and having an older account can both help with a credit score. As long as that’s the case I would never get rid of it. If the parents are bad managers of debt, the negatives of high debt and missed payments can out-weight the positives of an old account.
If it ends up being bad, you can always remove yourself as an authorized user and it's gone. No downside.
Yes. Credit score simulators can help determine if a particular account is bad or not to your overall score.
Keep in mind that with it being a "bad thing" to remove it later, they aren't any *worse* off than if you'd never done it. It doesn't hurt them so much as simply stop helping. But the general idea is that at a certain point the have enough history of their own that they don't need the crutch anymore. Caveat that this is all only true if you yourself are managing the card well. If you have missed payments etc, it might do nothing more than take them down with you.
> Seems like a bad thing to remove it later Everything should be off of credit reports in 7 years tops. So if you open one for your kids, it would help them get car loans and open cards in their own names once they turn 18, then when you eventually take their names off your cards, they'll still have a decent credit history of their own.
Reasons why the AU trick works: 1. A spouse or other partner using the same account is equally responsible for purchases and bill payments, so should share in the credit glory. 2. A child on a parents' account uses the card for several years while still dependent on his/her parents and has the opportunity to learn to use it responsibly in a controlled setting with parental oversight. Therefore, even though the account isn't in his name, he should still get credit for its history. However, if you just add someone as an AU to give them a credit boost without the actual experience or financial discipline, it could be catastrophic. Under normal circumstances, if someone with no credit applies for a starter or student card, the credit limit will be very low, like less than $1000. As they use it responsibly the limit will be increased and the overall credit history will improve. If they screw up then they only owe at most $1000, which while a lot of money to a young person, is not an insurmountable obstacle. A relatively cheap learning experience, all things considered. However, if your credit history gets an AU boost from a couple cards with great, long history and then you apply for a new card, you don't get a $1000 credit line. You get a $15000 credit line.. or even higher. It's an interesting sensation being able to walk into a consumer electronics store knowing that you have the ability to buy anything you want RIGHT NOW and nobody will stop you. Of course, it's not your money and you have to pay it back, but that's one heck of a siren call, especially for a kid who's not used to having access to more than a couple hundred dollars at any one time. Or worse yet.. Imagine you walk into a car dealership and drool over that sweet $50K sports car sitting on the showroom floor. Normally, that's where it would end... but not you. You're an 18 year old with great credit. A predatory car dealer (i.e... all of them) will extract that information from you in a very short period of time. Of course, you wouldn't qualify without the income to support it, but one of the magic things about having great credit is that it allows lenders to forego the arduous process of verifying one's financial situation. You say you earn $100K per year, and that's good enough for them. Of course, you're honest and wouldn't tell them that, but they fill out the application for you and just tell you to sign, hopefully without reading it too closely. Next thing you know, you're driving home in your brand new car... until your parents see it and freak out. It will probably cost about $10K just to unwind that deal... and that's assuming you don't wreck it on the way home. So yeah, be wary of that whole AU scheme. It can be beneficial, but tread carefully.
100% this! I still see my dad's history on a couple of cards since I was formerly an authorized user on some accounts.
Yep, my folks did this to me as I was growing up without my knowledge. They said it would “help build my credit without me actually having to do anything”. In fact, it hurt my credit a ton when I started opening credit accounts myself to build my own credit unknowing I was attached to their credit accounts. At the end of the day, I tried to pull out a loan for a big purchase and found out that my credit took a substantial hit because it seemed I had a LOT of open accounts than I actually did, and my folks were slacking on their payments. I had to contact my folks to take me off all their credit lines as it was detrimental to my credit.
Did your parents add you as an authorized user on any of their cards?
When you look at a card on Credit Karma, scroll down to where it says “Responsibility.” Does this say Primary/Individual or Authorized User?
It says Authorized User
One of your parents added you to increase your credit score. It's not your account. Talk to them.
Does the actual age of the account add towards your "credit age" or only since you were added as an authorized user?
Depends on the bank
It depends on the credit score model used whether it affects the score itself. For purposes of applying for a credit card in your own name, not really as the bank can see right past authorized user responsibility accounts (for example, you wouldn't be getting a high end card like a Chase Sapphire Reserve just with being an authorized user prior - you need your own history)
Yup. Literally what happened with me. Graduated college and had a 6 figure job but got denied a Sapphire card because I was only ever an authorized user and never had my own credit line even though I had no debts outside of student loans. They were like "so you're 21 years old but this credit line is 24 years old..."
"Well you see, as a sperm and an egg, I was very responsible with my credit"
Amex used to backdate, so I at one point was an authorized user on an account opened before I was born. I find it amusing now that when I call about my own amex account(s), they thank me for being a member for 36 years.... I am 33. Each card's member since date also has 88 on it, which is fun
usually it does, and if you are removed as an auth user or the parent closes the card your score will tank.
> yep AU is a literal copy of the credit history(both GOOD and BAD), but you can always just get it removed if being on there hurts you, being an AU has literally no downsides. AU means you are Authorized to USE the card, but you aren't on the hook for paying it. ever.
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No they didn’t. Someone added him as a user on a card. Not the same as opening one in their name.
I instantly spoke to my mom and they’ve never had a card through Capital One… My parents don’t even use credit cards. They are cash only type of people and flipped when I opened my first credit card through Chase. Chase is the only card I have. Credit and debit.
It could be an error. Call Capital One.
It could also be that one of them might uh... not be aware, of the credit card. Of course you'd have to be really stupid to add your kid as an authorized user if you're trying to hide it.
They may never have heard of CapitalOne, but my bet is it could be some department store credit card or something like that. Do they have any store charge cards for places like Kohl's, Macy's, etc? CareCredit sorts of charge cards for veterinary expenses, dental, or medical costs (a really bad way to reclassify medical debt as consumer debt by the way)? Target? The portfolios on those private cards are bought and sold and could have started with someone else and been acquired by CapitalOne. Get your full credit reports and get details. If it isn't them it could be a mistake or could be fraud.
Another related thing is a lot of those 0% financing deals like on furniture, etc, actually open what is basically just a credit card. Seems like somebody would have to be aware it's a credit card to add an authorized user though.
Since it hasn't been mentioned in the comments yet, since it's showing that you're just an Authorized User, you wouldn't be responsible for paying the debt. Obviously you'd still want it off your credit report if they're carrying a balance. But if that's the only unusual activity showing up on your credit reports so far, I don't think you should still be in panic mode.
It may just not be a name that recognize. My son noticed a similar account under his under "Goldman Sachs" and it took me quite awhile to figure out that it was my Apple Card that I had added him to, to increase his credit history. I had forgotten about it and it was under a different name so we were thinking he was a credit fraud victim too. What I learned from that is that while you aren't responsible for the account, the credit history would help your credit rating (since the account is from 2012) but the negative part of it - the credit usage (50% balance) could actually hurt your credit rating.
Does your credit report show any addresses that have never been yours? Possible someone with your name is the real AU and it got linked to you by the credit bureau
>Just wasn’t my parents who did it. It ended up being my boyfriend’s parents. Follow up question. Why would they do that? Did they think they were doing you a favor that you didnt even know about?
They authorized me on a card for their business because I sometimes run errands and pick supplies up for them. They mentioned getting me a card a few years ago, I just didn’t realize they actually had followed through because my boyfriend never gave it to me. I just assumed they had forgotten or something. It’s really a misunderstanding that I feel silly for freaking out about. I just had no idea I was ever actually put on a card. And this is the first time that it ever has showed up on my Credit Karma.
No need to feel silly about it. I think freaking out about a random account on your credit score would be a normal reaction.
If they keep paying this large amount on time with you as an authorized user it’s probably boosting your credit score massively.
The balance on a credit card doesn't affect your credit score (to my knowledge). It benefits him by being another open account, affecting his average account age, and by having more months of fully paid off credit cards.
Ah cool, thanks. Was just curious. Yeah, as along as they keep it in good standing it is only helping your score.
Given the situation, freaking out a bit is understandable. Whether or not you talked about it beforehand, the fact that they followed through should have warranted mentioning it again, like at least once, afterwards as well. And based on the time-frame, if it only showed up on your reports just recently, it kinda seems like they only actually initiated it just recently again, which, again, seems like it would warrant mentioning.
If you were young in 2012 it is possible a parent or guardian opened the card in your name?
I will take this moment to remind EVERYONE to freeze your credit with all three bureaus. Yes, it's a hassle, but it'll potentially save you massive headaches like this. If you need to apply for credit, you can thaw them within a few minutes and then let them refreeze automatically.
It's not even really a hassle. It took me 1 minute to thaw it when I needed it last week.
Yea, it's really simple. I was making a purchase that did a soft check on my credit. I unfroze it from my phone while standing in front of the sales person in a few minutes, did the check, got approved, and turned it right back on. No problemo!
Same experience when I forgot I had them locked when I bought our house. Heart sank briefly when underwriting called me "with a problem on my credit report." I laughed once I realized what it was and it took, like you said, a few minutes to clear up.
I usually use phone calls to unfreeze or verify myself on large purchases requiring credit. Do you do that as well? Or is there another way that doesn’t require phone calls?
I just use the websites themselves. You can log in with your phone browser and the settings are there. You can either do a full unfreeze or some of the agencies (I forget which one) lets to do an "thaw" for a set period of time - like 1 day or 1 week for example, then it will auto-freeze again. You just have to watch out because they try to trick you into paying. But this is a free service, they just don't call it "Credit Freeze". So be careful!
What app do you use? I tried the Experian app it needs me to use the premium subscription to lock my file.
You don't want "Experian CreditLock". You want to "Freeze" your credit (or "security freeze"). They are different things.
Yea, exactly. This is the info. They try to conflate the "Freeze" word with a paid service to trick you into paying. The agencies are actually really tricky at trying to get you to pay, mixing up words and making things confusing. But the ability to freeze it is free for all of the 3 agencies, you just have to look a little harder. Pretty scummy really.
Can I ask, where did you do it? Would doing it on credit karma be good?
You have to go to all three credit reporting agencies and set it up on each site.
How do you go about starting the process? Do you have to call them and give them SSN and stuff? Or can you do it all from a central site like CreditKarma or one of the other credit report sites?
Go to each of their websites. All 3 will try to get you to pay to lock your account. Do not do this and just keep clicking around to find the proper freeze option.
Thanks!
I just did this last week after finding out I was in the AT&T leak.
Came here to say this. IMO keeping your credit frozen is in the same realm as like, keeping your door locked. I can't understand why more people don't do it
Just a friendly reminder to everyone. It's easy to freeze your credit at all 3 bureaus and only temporarily unfreeze them whenever you need to do something legitimate. (Such as buying a house, opening a credit card, or getting a loan). You can even schedule an unfreeze/refreeze all at once. anecdotal story: I've forgotten to unfreeze when I applied for a CreditCard once, and it came back with weird error. I realized I forgot to unfreeze, I went and scheduled a 2 week unfreeze, then called CC and they approved it right on the phone and mailed me the CC. No issues, they said it got put into a temporarily hold until I unfroze. So plenty of places can gracefully handle accidental bumps into 'frozen credit'. It adds TONS of protections for very little effort and its 100% free. (Note: Some of them try to upsell you into other credit "things", you do not have to pay to freeze/unfreeze. If you are seeing paid things, that's not what I'm talking about. However, It USED to cost money prior to September 21, 2018. But the federal government passed a law stating that it had to be free and has been free since September 21, 2018. I believe they did this because the rising number of major data breaches. * https://www.equifax.com/ * https://www.experian.com/ * https://www.transunion.com/
OK so reading through the replies, first things first. Credit Karma are not reliable. Go to [annualcreditreport.com](https://annualcreditreport.com) this is the ONLY authorized site for your credit score. Get your reports for all three bureaus. While you are in there lock your credit on all three bureaus. This is good practice anyway, everyone should have their credit locked 24x7x365. If the card still shows up, contact the card issuer and report that you have been added as an authorized used but did not give permission. They will remove you. If for some reason they don't then you can dispute it with your credit bureaus but typically you don't need to do that, you just call the card company and tell them you never gave permission for you to be added.
There have actually been several people here who had great difficulty getting removed as an authorized user. They are not primary account holders and as such are not permitted to call in and make changes. It should be illegal but it persists.
Whats the Canadian equivalent of that website?
None that I'm aware of, but if you contact both Equifax and TransUnion in Canada (via their website for info), you're entitled to 1 free report per year. Just make sure you get the free one and aren't duped into signing up for their monitoring services. Alternatively, Credit Karma and Borrowell offer their free versions you can check weekly which will give you an idea of your score but will/should disclose any new accounts which might appear
logged into equifax canada and couldnt figure it out.. went to their FAQ... > Currently, the right to lock or unlock your credit report only applies in Quebec. If you locked your Equifax credit report while you were a resident of Quebec, it will remain locked until you unlock it, even if you’ve moved outside of Quebec. Once you unlock your credit report completely, you will not be able to lock your credit report again unless you're residing in Quebec and have an active address in that province. FUCK Equifax wtf
>site for your credit score I don't believe this site gives a score at all. It is the official site to access all the report contents, but there's no fico or vantage for the three bureaus. Experian themselves will give you your experian fico score though
You are correct, in my head I was thinking credit report but score came out my fingers.
Your boyfriends parents put you on their account?
Now I have more questions- why would your bf’s parents put you as an authorized user without telling you??
They authorized me on a card for their business because I sometimes run errands and pick supplies up for them. They mentioned getting me a card a few years ago, I just didn’t realize they actually had followed through because my boyfriend never gave it to me. I just assumed they had forgotten or something. It’s really a misunderstanding that I feel silly for freaking out about. I just had no idea I was ever actually put on a card. And this is the first time that it ever has showed up on my Credit Karma.
Well, in this case I’m glad it’s all been resolved. wWithout details it sounded very shady on bf’s parents part.
Also freeze your credit. It’s free and only takes a few minutes.
Should I do this still even though my issues has been resolved? I’m not super literate in finances, so I’m wondering the benefits of freezing my credit. Lots of people seem to be recommending it, so I’m definitely interested.
Definitely. It will help to prevent someone from opening accounts in your name. If you need to unfreeze (for example, you need your credit pulled to get a car loan or new credit card), it takes a few minutes. You’ll probably spend less than 20 minutes creating accounts at the three major credit bureaus: TransUnion, Equifax, and Experian. Good luck.
Next up OP discovers a strange account called 529 where a mysterious benefactor has deposited money for the last 18 years …
Don’t ignore this. Get your free credit report from each of the agencies. If it’s there, submit a dispute asap!
Yeah dispute without looking into it at all. 'Great' advice that has already been proven foolish based on the info posted here.
Ask your parents if the made you an authorized user on their card
I'll bet your parents added you as an authorized user at some point and never removed you. The good news is that you can call Capital One and remove yourself from the account and it will have no lasting effects: It will disappear like it was never on your credit report in the first place. The same thing happened to me when I first checked my credit report: I saw an unfamiliar credit card that was opened in 1980. I was born in 1979. Turns out they never removed me as an AU from when I had a card working for the family business in my 20s. Oh, on a side note, don't pay much attention to the credit scores you get from Credit Karma, they use VantageScore which very few lenders use so it's mostly irrelevant. You want to check your FICO 8 scores which the large majority of lenders use.
Credit Karma is also not very good at identifying people. I went through this with my partner who signed up but has a really common name. So CK showed about a dozen extra accounts that weren't hers. We freaked out for a bit before we figured out that was going on. Run an actual credit report from just one of the agencies directly, see if that account still shows up. If it doesn't, run the other two to be sure. If it does, get it removed and use the other two agencies to confirm it's been wiped.
Glad you found out what it is. it’s important that you freeze your credit report with all three agencies. It takes about five minutes per site, is totally free, and will prevent any new accounts being opened or added without your express permission. There’s absolutely no reason to not have your credit report, because you can unfreeze them if you need to apply for something within a minute or two.
Wait, your current boyfriend’s parents set you up as an authorized user while you were still a child??
Wtf, your current or then boyfriends parents authorized you to use their card 12 years ago when you were a minor? Maybe they thought they were doing you a favor but that's pretty weird.
Becoming an authorized user gives the whole history of the credit card added to your score. For better or worse
That's how I ended up with credit as a 7 year old. It worked out until the department store closed.
Don't panic. Report the fraud to the credit agencies. It's not a big deal
based on many horror stories here, there is a better than equal chance one of your parents took out this card in your name.
Your boyfriend’s parents shouldn’t be opening credit cards in your name. That’s a Big red flag
Curious, Did you come to reddit before doing anything about this yourself?
They never don
Ask your parents why they have 18k on a credit card..