I added my nephew on three of my accounts as an authorized user. They came up on his TU and EX, but not on his EQ.
He contacted EQ and he was told that new AU accounts are blocked from going on his report. It is a new practice they are doing. I do not know if it was just for my nephew or if it will be done to everyone. I am only stating what happened to my nephew.
I added him onto a gas card, a store card and a mastercard.
The interesting thing is that one of the cards I added him onto was opened two years before he was born. That should create some confusion
Mark-MD wrote:
I added my nephew on three of my accounts as an authorized user. They came up on his TU and EX, but not on his EQ.
He contacted EQ and he was told that new AU accounts are blocked from going on his report. It is a new practice they are doing. I do not know if it was just for my nephew or if it will be done to everyone. I am only stating what happened to my nephew.
I added him onto a gas card, a store card and a mastercard.
The interesting thing is that one of the cards I added him onto was opened two years before he was born. That should create some confusion
Interesting! Equifax is in real danger of running afoul of the Equal Credit Opportunity Act. I think they had to modify that no-AU thing on FICO 08 because it would be in violation of the Act.
Obviously your nephew isn't going to be confused with your wife, but IMO, Equifax is on thin ice with this one.
@haulingthescoreup wrote:
@Anonymous wrote:I added my nephew on three of my accounts as an authorized user. They came up on his TU and EX, but not on his EQ.
He contacted EQ and he was told that new AU accounts are blocked from going on his report. It is a new practice they are doing. I do not know if it was just for my nephew or if it will be done to everyone. I am only stating what happened to my nephew.
I added him onto a gas card, a store card and a mastercard.
The interesting thing is that one of the cards I added him onto was opened two years before he was born. That should create some confusion
Interesting! Equifax is in real danger of running afoul of the Equal Credit Opportunity Act. I think they had to modify that no-AU thing on FICO 08 because it would be in violation of the Act.
Obviously your nephew isn't going to be confused with your wife, but IMO, Equifax is on thin ice with this one.
I added my nephew on the first week of February 2009. When my statements cut off the three cards came onto his TU and EX but NOTHING on his EQ. He did inquire and he was told that all new AU accounts are blocked from being put on his report.. As he told me, they said his was blocked. I do not know if they are doing this to everyone but why would they just single him out?
Now March 09 statements cut and they are reported on his TU and EX again. Still NOTHING on the EQ. Maybe this is their way of keeping AU accounts out of the FICO figure????? The AU helped him for sure as he is listed as 738 and 743. His EQ is still at 637 as the AU accounts never appeared.
What's really crazy about EQ's little move is that the original FICO 08 was going to ignore AU accounts for scoring purposes, but they were always going to be reported.
To not report them at all; wow. My AU account says that's what it is, so any scoring formula, properly constructed, could ignore it if it wanted. And in fact, I think the TrueCredit FAKO score does ignore it, because I get scolded for short revolving history, and this thing is nearly 20 years old.
But to not report them at all --again, wow. They're playing with fire, IMO.
edited in an attempt to clarify
To not report them at all; wow. My AU account says that's what it is, so any scoring formula, properly constructed, could ignore it if it wanted. And in fact, I think the TrueCredit FAKO score does ignore it, because I get scolded for short revolving history, and this thing is nearly 20 years old.
But to not report them at all --again, wow. They're playing with fire, IMO.
edited in an attempt to clarify