05-21-2008 11:54 AM
BooBee wrote:Is that true that if you remove an AU the tradeline on THEIR report gets deleted, even if it shows all positive stuff?
It is very easy to remove yourself as AU. Just call the CCC and tell them you would like to remove yourself as AU. They will instruct you to destroy your card and they should delete the account from your CRs within a matter of days.I have my wife on one of my Cap1 cards with a 1500 limit that has been helping her credit. I thought if we eventually removed her as an AU once she gets her own credit established (new credit user) then the tradeline from my Cap1 account would stay on her report unless she disputed (which would be unwise if it's nothing but a positive account).
Not in the case of my daughter's BofA card that I accidentally wound up being AU on. I asked to come off the card one day, and the very next day it was gone from EX and EQ, with TU the usual dawdler.
Maybe CapOne won't do an immediate update, but creditors update info to the bureaus every month. Once your wife is no longer an AU, she won't be showing on your Cap One account, so I don't see how they'd be able to update, so it would disappear from her reports.
Again, since it's pretty easy to get removed as an AU, those who are still trying to use it for a credit jump-start might consider staying on until some scoring disaster (high util, a late, etc) hits, and then coming off. But it's better to start the weaning process if possible. If you're worried about FICO 08 eventually kicking in and causing the AU account to be ignored for scoring, you might investigate whether this CCC will allow conversion to joint. (For instance, Discover will; AmEx won't.)
But think long and hard before doing this. AU's can be a PITA, but joints can be time bombs. And it's not just the possibility of divorce/ breakup. If one of you has to declare BK, due to medical disaster, job loss, etc., having completely separate credit means that the family can work on the non-BK partner's credit in the interim.