The Home Depot® Credit Card does not offer an authorized user bonus, currently. Some credit cards give a bonus for adding an authorized user, though this is a relatively rare feature and the Home Depot® Credit Card is not among the cards offering it.
Adding an authorized user to your Home Depot® Credit Card Card still has benefits, though. Most importantly, the authorized user is able to build credit.
Yes, authorized users do build credit. You can actually build a good or excellent credit score just as an authorized user on a credit card. When you become an authorized user, the account is added to your credit report, which means on-time payments by the primary cardholder will help you build good credit history. But because authorized users are not responsible for paying the bills, credit scores don’t give authorized user accounts as much weight. So you won’t build credit as fast as an authorized as you would with your own credit card account.… read full answer
Still, the fact that most credit card companies don’t have a minimum age for authorized users, means becoming one is a great way to build credit before you can get your own account. But there are a few positives and negatives you should know about before becoming an authorized user.
Here’s how authorized users build credit:
A friend or family member adds you to their credit card account as an authorized user.
The credit card account gets added to your credit reports, just like if it were your own account.
The issuer gives updated account information to the credit bureaus on a monthly basis.
Your credit standing improves if the account owner has on-time payments, low credit utilization and other signs of financial responsibility.
Your credit gets hurt if the account holder behaves irresponsibly.
You can get an account with negative information removed from your report, since you aren’t responsible for making payments.
Authorized users do build credit, but that credit can be good or bad, depending on how the primary accountholder manages balances and bill payments. So you only want to become an authorized user on an account owned by someone responsible.
But in the event that an authorized user account does end up hurting your credit, you can dispute the account to get it removed from your credit report. That’s because any mistakes made won’t be your responsibility.
Finally, you’ll build credit faster if you also have your own credit card account that you use responsibly. You can get a starter credit card once you turn 18 years old, as long as you have enough money to pay the bills.
If you have bad credit and are worried you won’t get approved, try applying for a secured credit card. Secured cards require security deposits, but they have the highest approval odds of all credit cards and accept people with bad credit.
To remove an authorized user from a credit card, call the customer service phone number on the back of your card or make the request through your online account. You can also mail your request to the issuer, though it would be much slower. Either the primary cardholder or the authorized user can request removal. You will need to provide the card number, the primary cardholder’s name and the authorized user’s name. Some credit card companies require other info such as the primary cardholder’s date of birth or Social Security number, or the answer to a security question.… read full answer
Regardless of who decides to remove the authorized user from the credit card account, the process is very easy.
How to remove an authorized user from a credit card:
Info needed: You will need at least the primary card’s number and the names of both the primary cardholder and the authorized-user-to-be. The primary cardholder’s date of birth or Social Security number might also be required. And there may be a security question.
Call customer service. Call the number on the back of your card and provide your card number to identify yourself. When you speak with a representative, tell them you’d like to remove an authorized user.
Log in to your online account. Go to the account management page. Find the section for authorized users, select the user you’d like to remove and confirm removal. All of the 10 largest credit card issuers allow you to remove authorized users online.
Send the request by mail. This method is obviously the slowest. Use certified mail if you’d like confirmation of receipt.
Who can make the request: All of the 10 largest credit card companies allow either the primary cardholder or the authorized user to do it. An authorized user cannot remove another authorized user from a credit card, though.
After you remove an authorized user from a credit card, make sure the user knows. That way, they won’t be surprised when they try to use the card and are unable to purchase anything.
Once you remove an authorized user from your credit card, the card’s past payment history, whether negative or positive, will usually remain on the authorized user's credit report. But no new activity from the card will be added. The authorized user may contact the credit bureaus to ask them to remove the history.
Most issuers will remove an authorized user immediately after the request is made. In the meantime, some issuers will allow you to freeze the authorized user’s card or set its spending limit to $0 through your account settings.
No, an authorized user is not legally responsible for credit card debt. Only the primary accountholder is responsible for bill payments, regardless of who made charges with the card. So the debt incurred exclusively falls on the shoulders of primary cardholders. As such, this relationship requires both parties to lay out their own usage ground rules. … read full answer
Becoming an authorized user offers a path toward credit building, as most major credit card companies report account information for both primary account holders and authorized users. If they suspect account mismanagement that can lead to credit score damage, authorized users can contact the credit card issuer to request their removal from the account. They can also dispute the damaging information to have it removed from their own credit report.
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