Risks, Benefits, and the Differences of Having Joint vs. Authorized Users On Your Credit Accounts

Many people have a credit card or two in their names, and some people may add or consider adding another user to their credit card accounts for various reasons.  Some parents may add a child to their account to help them establish credit or a couple may add their partner or spouse to their accounts.  There are two different types of users that may be added to a credit card account: a joint user or an authorized user.  What are the differences between these users though? Are there benefits to adding users to your credit account? Are there risks, like damage to YOUR credit report or personal obligation to repay a debt that you don't directly feel was yours? What happens if your spouse is a user on your account and you're in the process of a divorce, or already are divorced? Tune in to hear Attorney Jim Smith of Fair Credit Attorneys explain the differences between joint and authorized users to Family Law Attorney Gwendolyn J. Sterk of Sterk Family Law Group, as well as some of the benefits and risks of each type of user.  ********* Attorney Jim Smith has litigated class actions in both State and Federal Court on behalf of consumers, employees, and small businesses. Jim has extensive experience in handling all facets of litigation from drafting complaints, and other persuasive legal papers, to pursuing written and oral discovery, to arguing before various courts and negotiating successful settlements.  He is also an accredited attorney with the United States Department of Veterans Affairs. To connect with Jim or to schedule a free consultation, visit: https://faircreditattorneys.com/ or call 866-825-6787 To learn more or to connect with Sterk Family Law Group, P.C. or Gwendolyn Sterk, call 815-600-8950 or visit https://www.sterkfamilylaw.com/   **************   Sterk Family Law provides a full range of family law and estate planning services in Orland Park for clients in Will, Cook, and DuPage counties.  The Sterk Family Law Group team provides a holistic approach to the practice of law and strives to not only service a client’s legal needs, but also help manage a client’s emotional and over-all well-being by establishing connections with a vast network of counselors, support groups, and various other non-traditional service providers within local communities by way of the unique Resource Center.  The Resource Center provides Sterk Family Law clients with access to other professionals to help prepare for the next step in their lives.   **************  This podcast is for informational and educational purposes only. This is a legal advertisement from Sterk Family Law Group, P.C. It does not constitute legal advice and should not be construed as such.