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#1493160 - 01/11/11 05:45 PM Reg B Clarification of Authorized User
Soccer Offline
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section 202.6 b (6)(i) states that authorized user credit history should be included in the credit decision process. Do you count the debt or is it simply to determine the credit- worthiness of the consumer. My confusion is with the fact that they would not be contractually obligated to make the payment so why would this information be used.
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#1493186 - 01/11/11 06:08 PM Re: Reg B Clarification of Authorized User Soccer
RR Joker Offline
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I believe that is meant to mean that this is another means of obtaining credit history on someone who may have limited credit.
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#1493190 - 01/11/11 06:12 PM Re: Reg B Clarification of Authorized User RR Joker
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That's how I read it also, but it could be a double edged sword. If the history is good then Great, but if it's bad and they aren't contractually obligated then Bad, Right??
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#1493213 - 01/11/11 06:31 PM Re: Reg B Clarification of Authorized User Soccer
RR Joker Offline
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RR Joker
Joined: Nov 2002
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I guess that would depend on whether you give it any credit or not.
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