Adding husband with negative info as AU

[Anonymous]

If I add my husband as an AU to my 4 ccs, will there be any negative effect on my scores?  Has the change been made that will cause his scores not to be affected?  I've looked through the forums and couldn't find the answer to this one.  Hope someone knows.

[SanFranMatt]

His negative info will not hurt your score, unless you were added to those accounts.  And no, the change has not been made.  It will still help his score.

[Anonymous]

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wendy125 wrote:

If I add my husband as an AU to my 4 ccs, will there be any negative effect on my scores?  Has the change been made that will cause his scores not to be affected?  I've looked through the forums and couldn't find the answer to this one.  Hope someone knows.

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You need to pull your cred. report and see what information of his that negatively reports. Then you can focus on cleaning up what you can on his.

As for it negatively affecting your reports, it should have already had it's impact. Most of the time- and notice I say most of the time- it should not  affect your credit to add an AU. Some cards when you add an AU do not even run your credit.

However, the reports of redoing the measurements on Fico 2008 said they may not take into account AU's this year. So- potentially- your husband could potentially take a score drop when and if they start to reconfigure their scoring model and discount the credit bump that people used to get as being an AU.

[Anonymous]

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netpanther wrote:

You need to pull your cred. report and see what information of his that negatively reports. Then you can focus on cleaning up what you can on his.

As for it negatively affecting your reports, it should have already had it's impact. Most of the time- and notice I say most of the time- it should not  affect your credit to add an AU. Some cards when you add an AU do not even run your credit.

However, the reports of redoing the measurements on Fico 2008 said they may not take into account AU's this year. So- potentially- your husband could potentially take a score drop when and if they start to reconfigure their scoring model and discount the credit bump that people used to get as being an AU.

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We've done all we can do on his report, paid down all CCs, paid Collections, etc.  He did have a few lates.  Those accounts that I was associated with did affect my score but we're trying to get them up past 640.  I just checked and I'm at 639, 651, and 669.  His, on the other hand are at 616, 627, and 637.  Since the people we're trying to get our mortgage through look at the middle score, as is often the case, I don't have anything to worry about.  Wish I could say the same for my husband.  We're trying to buy the house we've been living in for the past 5 years and I'm afraid we don't have the time we need to raise his score in a conventional way - ie. waiting for time to pass.

So, let me see if I understand you correctly - I can add him as an AU and it shouldn't affect my score but if the change goes into affect, it could have a negative impact on his, probably bringing it back down to where it currently is?

(Forgive me if I have mixed up effect and affect - English major or not, I just have never been able to get that one. lol)

[haulingthescoreup]

Main user's history DOES affect AU's history.

AU's history DOES NOT affect main user's history.

When AU accounts stop counting for scoring, the AU's scores will go back down to where they would have been all along. Do realize, though, that as long as the AU has not been incurring additional lates, collections, etc., that underlying score will be moving upward due to the benefit of passing time, and so the post-AU score probably won't drop down all the way to the pre-AU score.

I'm an AU on DH's 18-year-old card to get the length of history, so I'm watching this pretty closely myself!

[Anonymous]

Thanks to all.  Hope this works.  Will let you know.

[Anonymous]

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wendy125 wrote:

If I add my husband as an AU to my 4 ccs, will there be any negative effect on my scores?  Has the change been made that will cause his scores not to be affected?  I've looked through the forums and couldn't find the answer to this one.  Hope someone knows.

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[Anonymous]

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haulingthescoreup wrote:
Main user's history DOES affect AU's history.

AU's history DOES NOT affect main user's history.

When AU accounts stop counting for scoring, the AU's scores will go back down to where they would have been all along. Do realize, though, that as long as the AU has not been incurring additional lates, collections, etc., that underlying score will be moving upward due to the benefit of passing time, and so the post-AU score probably won't drop down all the way to the pre-AU score.

I'm an AU on DH's 18-year-old card to get the length of history, so I'm watching this pretty closely myself!

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Totally concur. To the OP- you mentioned that you have totally cleaned up the reports- are there any goodwill's to lates that haven't been granted that you could possibly bombard them w/?

Also- in mortgage's it depends which ones you are going for- sometimes, FHA loans look at your more recent history and if you have been cleaning up your act will take that into account. However, mortgages are a whole diff. ballgame and perhaps you should ask questions re: mortgage in another section or board.

Plz. keep this in mind w/ mortgages though- you have to shop around, do not take the 1st thing offered unless it is the best terms you could possibly get, and sometimes it is better to wait till your score so that you can dictate the terms to them rather than feel like they are stringing you along. Personally, and I am no analyst- but I dont' see the housing market rebounding in less than one year- so I am thinking that int. rates will still be good for a year at least- so you do have some time.

Plz. again- I am not a lawyer- but I have bought two diff. houses, and the 2nd was a foreclosure negotiation- one of the things I can suggest re: mortgages is to educated yourself exactly like you are doing on this board- basically I plopped down in Barnes and Noble read just about every book they had on the shelves re: mortgages and homebuying and learned so much.

You may be already doing this and if you are good luck.