Credit card debt

Forum|Forum|7 years ago
February 18, 2019
1 reply
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My employer made me an authorized user on there company credit card, now there nine thousand dollar debt shows up on my credit report . Is this helping or hurting me , it does show years of perfect payment history although it has a high utilization rate ( almost at max) .

Devildiva

Employee

It helps and hurts as you noted. Perfect payment history is a definite plus. High Utilization rates are a bad thing. I suspect that your boss pays his/hers bills once a month. It is a bit easier for business owners to do it that way instead of twice a month or more.

NCPERSON1

I would suggest going back and see what your signed

What happens if your company falls into financial difficulty ? You don’t want that reported on your credit report

Your credit report should only contain what you are LEGALLY liable for

You asked if this is a good or bad thing. It is a VERY bad thing only / esp if it turns out you are legally liable for the debt

Bonnerjoe85Author

Employee

So should I have my employer remove me from autorized user , she told me it would still show on my credit score for next 3 years regardless. Im annoyed with all of this being i wasnt given an option nor knew anything about it until i recently checked my credit score. Seems not right for a company to be able to do such.