Tradelines, what are they?
Trade lines are accounts that are open on someone’s credit or financial history, they are what show both someone’s financial solvency and their responsibility to meet their obligations. A clear example of a trade line is a bank loan, credit card or home mortgage.
Each person has his or her own financial goals and authorized user tradelines are very beneficial in achieving them.
If you have future or short term plans to buy a house, build a business or buy a car, considering commercial lines can be a good start to that. Authorized user tradelines work and much more over time.
An important thing to know is about the authorized user tradeline; it refers to the card account where a person is added as an authorized user and this account is the tradeline, which appears on your credit report, be it credit card, loans, among others.
An authorized user is the person who is given access to an account as a user.
The authorized tradeline.
The authorized tradeline refers to the owner adding lines of credit to give another user access to the account and this is when it becomes an authorized tradeline. Once this is done, the tradeline will be added on the credit report, but the only one who is still responsible for the account is the account holder.
Can I delete my authorized user?
You may have wondered what would happen if the relationship between you, being the account holder, and the person you have chosen as an authorized user were to break ties, would you have to be tied to a person with whom you no longer have a relationship? The answer is no.
Just as there is a way to add someone as an authorized user, there is also a way to remove them from your business line. You can do it yourself, since the authorized user does not have the right to make changes in the account, on the other hand; if you are the authorized user and you no longer want to be part of the agreement with the owner, you can call him to delete him.
It is of utmost importance to know that making this move can affect your credit score if you did not have a large accumulation of points before, so it is not advisable to do so if you and your authorized user do not have a large accumulated credit history, since this is made up of the length of the credit history.