Authorized User
Definition
- An authorized user is a person with permission to use a credit card account belonging to someone else. The card bearer is the one who must grant the permission for use.
Synonyms
supplemental card holder, credit card holder, permitted user
Related Terms and Acronyms
- Credit Card (CC) — Acronym, Very Important,
- A plastic card with a coded magnetic stripe that, when signed, entitles its bearer to a revolving line of credit, with a credit limit and interest rate determined by the borrower's income and credit report.
➥ A payment card that gives customers access to a revolving line of credit. - Joint Account (J/A) — Acronym, Important,
- A bank account owned by two or more persons who share equally in the rights and liabilities of the account.
- Joint Credit — Definition,
- Credit that is issued to two people based their credit reports and their combined assets and incomes. The repayment of joint credit is the responsibility of both parties.
- Penalty Rate — Definition,
- Several percentage points higher than a card's current annual percentage rate, which goes into effect after two late payments. On some cards, a single late payment triggers a penalty rate.
