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Regular Contributor
Posts: 105
Registered: ‎11-12-2010
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OH MAN...Primary late on payment...

I am an AU on a Goodyear account with my partner and he failed to make the monthly payment.  Received notification via equifax and am sure it will report to all three.  Since this is so new now (after working so friggin' hard to get EVERYTHING ELSE under control over the past couple years), I'm pretty sure it's going to haunt me.  Can someone tell me how this will affect me as an AU on this account?  Or does this just go along the lines of "you take the bad with the good" so that when the primary pays on time, I get credit for it and conversely, when the primary misses, too.  I have a feeling that I may have just answered my own question, but am certainly hoping that I'm wrong. 

.


Starting Score: 490
Current Score: TU: 656; EQ: 607; EX: 642
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Senior Contributor
Posts: 3,065
Registered: ‎11-02-2009
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Re: OH MAN...Primary late on payment...

If by miss a payment, you mean 30 days late, yes it will report as 30 days late on your report.  A recent 30 day late is not going to be good.  The good news is that you can cancel the AU account and it should come off of your reports.  If it does not automatically come off after it is canceled (may need to give it a cycle or two to see), you can dispute the tradeline as "not mine" and it will be deleted.


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Valued Contributor
Posts: 2,681
Registered: ‎07-29-2009
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Re: OH MAN...Primary late on payment...

I agree. Take yourself off the account. Give it a couple of cycles and if it doesn't come off, dispute it as not yours.

 

I once took myself off an AmEx charge account as an AU. It was an excellent line of credit and was years old. It was great....other than the owner didn't pay his bill until he got his statement. In that case, his balance showed on my report each month. I didn't like showing the balance.

 

Take yourself off...

Valued Contributor
Posts: 1,669
Registered: ‎05-24-2007
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Re: OH MAN...Primary late on payment...

In order to be reported as 30 days late, he had to miss TWO payments. The first one has to be 30 days late which would normally be the same date as the following monthly payment.

Regular Contributor
Posts: 105
Registered: ‎11-12-2010
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Re: OH MAN...Primary late on payment...

Then, I'm off.  THANK YOU!  Greg, maybe I'm misreading your message, but 30 days late is 30 days late, and some creditors will report you on the 31st day.


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Frequent Contributor
Posts: 358
Registered: ‎06-25-2012
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Re: OH MAN...Primary late on payment...


sybo40 wrote:

Then, I'm off.  THANK YOU!  Greg, maybe I'm misreading your message, but 30 days late is 30 days late, and some creditors will report you on the 31st day.


The 31st day will often be after a second payment has been missed. For example, If your bill is due every month on the 25th, and you pay your September 25th bill 31 days late, you will have already missed your October 25th payment too.

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: OH MAN...Primary late on payment...

I agree with everyone here, take yourself off of the account. It's going to ding your score badly.



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EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Valued Contributor
Posts: 2,708
Registered: ‎10-16-2008
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Re: OH MAN...Primary late on payment...

I disagree.

 

Wait and see what happens.  You're not app'ing for anything now, are you?  So, what's the harm in waiting??

 

Your partner could straighten this out on his own.  It's been known to happen.

 

If it turns out badly, then take yourself off of the account as "not mine".

 

Unless there is a pressing need for a better score today, just wait.

 

Good Luck!  :smileyhappy:

 

 

Regular Contributor
Posts: 123
Registered: ‎07-22-2012
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Re: OH MAN...Primary late on payment...

wait... I thought lates are almost never reported on Authorized Users' accounts? Does this depend on the type of credit card?

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Frequent Contributor
Posts: 375
Registered: ‎01-20-2012
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Re: OH MAN...Primary late on payment...


Uborrow-Upay wrote:

I disagree.

 

Wait and see what happens.  You're not app'ing for anything now, are you?  So, what's the harm in waiting??

 

Your partner could straighten this out on his own.  It's been known to happen.

 

If it turns out badly, then take yourself off of the account as "not mine".

 

Unless there is a pressing need for a better score today, just wait.

 

Good Luck!  :smileyhappy:

 

 


I respectfully disagree, but I understand the sentiment. Even if the primary cardholder straightens things out and gets current on this account the 30-day notation will not be removed without asking for goodwill, it'll stay on the credit report for many years. This is the danger with AU accounts (my SO is an AU on some of my accounts so I'm not anti-AU, just noting the danger of it). As has already been suggested, have yourself removed as an AU. If the credit bureaus don't remove the tradeline but put a notation of something to the effect of "Relationship Terminated" then dispute with them that the account is not yours.

Good luck!

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