Reply
Established Member
Posts: 20
Registered: ‎10-13-2007
0

Removal of Authorized User

I've been following the thread about the AUs and how they will no longer be reported starting sometime in 2008.  However, I have one TL as an authorized user, and it's helped by score.
I requested the credit card owner remove me as an AU and that's done.  The credit card balance is being paid down, and I don't see that being reflected on my CRs. I don't think that record is being updated - it's dead. I am thinking of sending notice to the Bureaus with proof that I am no longer an AU, but I don't know if that will be interpreted for 'scoring' purposes as a closed account. Any input from the experts is appreciated.
Valued Contributor
Posts: 2,010
Registered: ‎07-01-2007
0

Re: Removal of Authorized User

Is it updating each month?
 
Do you want any bonus this AU account might give, or you want it removed?
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Removal of Authorized User

If the AU TL is adverse in some way, then by all means dispute it away with each of the CRAs. The CRAs have been stung in court over AU TLs, so they don't normally mess around. You tell 'em AU TL, and they'll delete it.
 
However, if the AU TL is positive, then leave it be as it's still helping you. The FICO scoring changes have perhaps been put on hold with the one CRA that was supposed to implement them in September. But that doesn't matter. When AUs stop helping, they'll stop helping. Don't throw out gift horses prematurely.
 
Unless the AU TL is maxed out or nearly so, then it's likely helping you.
 
Epic Contributor
Posts: 25,600
Registered: ‎10-23-2007
0

Re: Removal of Authorized User

Looking at my 3 reports, TU seems to be the only report that shows my AU accounts.  In addition any that I am no longer on report how they were the day I was removed and never update again.  So yes they help me for how old they are and good pay history, but as you are seeing, may be reporting a balance that isn't there.  However, I can not answer rather this balance is being reported in my ratios or just as good account that is no longer there.
Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Established Member
Posts: 20
Registered: ‎10-13-2007
0

Re: Removal of Authorized User

The TL on which I am an AU is almost maxed out, so that can't be helping from a utilization point of view. I don't think it's updating - probably because I've been removed as an AU ??? I don't know.  I'm just wondering if its more harm to leave it as is, or to remove it, and whether removing it would hurt scores as if the account had been closed.  Tuscani usually seems to offer great insight on other topics - any insight you can share on this one Tuscani?
Highlighted
Valued Contributor
Posts: 2,010
Registered: ‎07-01-2007
0

Re: Removal of Authorized User

Tusc is out with his iguana at their Tae Kwon Do lesson, so until he pops back in to give you his opinion...
 
Yeah I wouldn't expect that it had been updating but wasn't clear on that or if it was reporting as open or closed.  There is no way to know how much this AU TL is currently affecting your score + or - but I would think that if there are no lates and it is adding age for the moment.... it is possible that it is helping more than hindering.
 
The great thing about an AU account is that you can dispute it right now, have it deleted, and see for yourself how it will or won't impact you.  If it does impact for the negative, get back on it with the option of removing your association with the account when it is reporting favorably... like after a payment bringing the balance to what it shows now or less updates on it.  
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.