AU Account Question

Anonymous · ‎07-08-2007

Hi All (Awesome Site) first time post. My FICO: TU=694 EQ=704 EX=698 A long time ago my mom added me as an AU on her Sears Card. 10k limit with 5k balance. I noticed her 5k debt is factored into MY revolving debt on all 3 CRA. Is this a mistake by CRA or not. Is it impacting My Fico because there are comments that my debt is high/balance unlike my other cards. If I remove it does that impact My FICO, and it what direction up/down. Lastly, How do I remove the AU data. The 5k debt is not mine and I have a slight problem with telling my Mom thanx but I don't need you anymore for my credit. But hey, I need a mortgage. I know AU becomes meaningless in Sept but I need to know b4 that to apply for a mortgage this month. Thanx, Eagle

MidnightVoice · ‎07-08-2007

It is not a mistake, that is how an AU works! AU will be removed from one of the CRAs calculations this fall, and from the other two sometime next year, so it is going away.

Maybe you could tell your mother that the Score calculations are changing soon to remove AU, and you need to know where you are as an individual, so could she please remove you so you can find out what effect it has

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎07-08-2007

Thanx MidnightVoice With an AU my understanding is that only the primary holder is responsible for the debt, unlike a joint accnt, and that is why I thought it strange that her debt is included in my revolving debt.

MidnightVoice · ‎07-08-2007

The primary is RESPONSIBLE, but at the moment, the AU gets the benefit it terms of credit history and score. That is going away soon, because it has been abused

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid