My husband filled out the credit card form thinking it was for him and included my name. When we received the card we found out it was for our son. We have tried several times to get my name removed, but the credit card company says they can only remove my name if my son cancels the credit card and applies for a new one. My son doesn't want to lose the interest rate he received when he first got the card, so refuses to reapply at the current interest rate. We don't understand why we can't just request to have my name removed and get this done. Can you help us achieve this or explain why the credit card company is being so stubborn about helping us with this problem? Any help and advice you can give us will be deeply appreciated.
Consult a consumer lawyer in MT. I find it difficult to believe that you cannot withdraw your name from the card or revoke any guarantor status.
I also find it difficult to believe your husband. Notify your son and the card company in writing that you revoke your guaranty of any of his debts, and tell both that if he does not cancel the card or take your name off of it, he will hear from your lawyer. This does not qualify as filial devotion.
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Creditors have the right to set terms & conditions for the use of accounts they provide, so if the creditor wants to close the account to remove your name (and this is pretty typical), then you will just have to dance to their tune. Consumer protection laws do not typically address issues such as this.
Hope this perspective helps!
Why is this such a big deal to you? Its not clear from your post, but are you a joint applicant or only an authorized user? And why would your husband fill out the credit card application but the card is in your son's name? And what is the interest rate on the card? Has your son tried to get another card? There are tons of credit cards with decent rates. Go to www.cardweb.com and look at the card trak feature to compare cards.
If you are a joint applicant, having this credit card on your credit should benefit you provided that your son pays his bills on time and that he does not keep too much if a balance on this card (its better that he keep NO balance and pay the bill in full when it comes).
Frankly, I don't really buy your son's explanation without knowing more about this card or who its with. I don't understand why your son can't get another card or why your husband had to fill out the application. I suspect that your son has no credit or bad credit and that may be the real problem here. if that is the case, there really is no answser other tan to close the card after it is paid off. However, you can look at your credit card agreement to see if it helps or provides any guidance at all.
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