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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Capital One and Chase Freedom cancelled my credit cards. HELP!


Open123 wrote:

If they wanted to stop this, then just make it so AUs don't count for the credit scoring.  Problem solved, and no one would profit selling AUs.  However, for whatever reason, they want to keep the AU scoring system (for whatever motives that eludes me), then they should expect some abuse. 

 

Relying on the "honor" system is just...ah...unrealstic.


One of the original and still important reasons AU count for credit is because many spouses ended up with no credit history in cases of death or divorce.   Counting AU family members in credit score is legitimate.    Not counting them whould cause far more harm than that casued by the few who abuse the system.   

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Posts: 11,024
Registered: ‎12-30-2011
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Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Thread locked and under moderator review.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
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Moderator Emeritus
Posts: 11,024
Registered: ‎12-30-2011
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Re: Capital One and Chase Freedom cancelled my credit cards. HELP!


Wolf3 wrote:

Open123 wrote:

If they wanted to stop this, then just make it so AUs don't count for the credit scoring.  Problem solved, and no one would profit selling AUs.  However, for whatever reason, they want to keep the AU scoring system (for whatever motives that eludes me), then they should expect some abuse. 

 

Relying on the "honor" system is just...ah...unrealstic.


One of the original and still important reasons AU count for credit is because many spouses ended up with no credit history in cases of death or divorce.   Counting AU family members in credit score is legitimate.    Not counting them whould cause far more harm than that casued by the few who abuse the system.   


I think this thread has run it's course, but I'd point out something:

 

When the FICO '08 model was first released (or perhaps near to it), they did away with AU scoring for the problem of people abusing the system as has been described in this thread.  This was done at the behest of FICO's customers, the banks and other lenders.

 

There was a huge uproar because as Wolf states, a number of folks lost their entire history, and there are legitimate uses of AU accounts.  FICO subsequently changed it, and the current version describes that they have some "method" for discounting bogus AU's such as have been described here.

 

It is not criminal.

It is not ethical.

If you are caught, expect AA, most likely immediate account closure.

 

It treads the line of the site TOS here to discuss it; however, as people have not been advocating doing this, I'm leaving the post available for people to read but am keeping the thread locked against further replies.

 

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)


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