Reply
Frequent Contributor
CreditBob
Posts: 493
Registered: ‎05-01-2007

AUTHORIZED CACCOUNT USERS

I got a newletetr from MYFICO via an emai,stating that being an authorized suer added to soemoen else's account will not increase or imove your credit score. My question is if someone has done that will it lower the score or will the accoutn be deletd from the credit reprot? AND NO I AHVE NOT DOEN THIS!! But I wanted tuscani to elaborate on this. So if you are added as an authorized user, what will it do to your fico score?? Please let all og us know.
Established Contributor
sl
Posts: 581
Registered: ‎04-11-2007

Re: AUTHORIZED CACCOUNT USERS

The information on this is still scant on the affects of this when it does happen. You will still remain a AU on an account, howerver, it will not be caluclated into to your score. Rumor has it that it can drop your scrore once the program starts. I think it is a wait and see game until it really happens.
Regular Contributor
kims
Posts: 212
Registered: ‎06-30-2007

Re: AUTHORIZED CACCOUNT USERS

From what I understand after September it won't affect your score one way or the other with EQ.  I believe the other 2 bureaus with follow suit next year.
 
I'm still listed as an AU on one of my dad's cc.  In the past it helped alot..$9000 TL with Cap 1.  But because his business went under a couple of years ago it's now a baddie as he hasn't been making payments.  I didn't even realize he wasn't making payments until a few months ago ~ I'm disputing it now.  A couple of years ago I disputed being an AU on one of my mothers cards she let get delinquent and it was removed from all 3 CRs.  So I'm hoping that my dad's TL will be deleted from my CR's. 
911 Operators....America's Lifeline!
New Contributor
cbjn1103
Posts: 144
Registered: ‎06-01-2007

Re: AUTHORIZED CACCOUNT USERS

Currently it is a factor in someones credit score. If it is a positive account with no lates, then the AU gets a boost in their credit score. If the account is a negitive account with lates-ect. then it is dropping the AU's score.
 
Come Sept. 2007, Fico will stop counting AU's on the AU's score from one of the CRA's. Sometime in 2008, Fico will stop counting AU's in score's from the other two CRA. No one knows yet which CRA will be the first for Fico to stop counting in score.
 
The ways it looks, if it is a positive account, then the AU's will see a drop in their score-don't know yet how many points. If the account is a negitive account, then the AU's account should see an increase in their score most likely.
 
Have not read anywhere that they will drop off of a AU's CR.
 
Many questions still unanswered. We will have to wait to see when Sept. rolls around.
Moderator Emeritus
fused
Posts: 16,193
Registered: ‎03-12-2007

Re: AUTHORIZED CACCOUNT USERS



CreditBob wrote:
I got a newletetr from MYFICO via an emai,stating that being an authorized suer added to soemoen else's account will not increase or imove your credit score. My question is if someone has done that will it lower the score or will the accoutn be deletd from the credit reprot? AND NO I AHVE NOT DOEN THIS!! But I wanted tuscani to elaborate on this. So if you are added as an authorized user, what will it do to your fico score?? Please let all og us know.


Here's some good reading on AUs.
 
Frequent Contributor
Lori344
Posts: 313
Registered: ‎04-01-2007

Re: AUTHORIZED CACCOUNT USERS

[ Edited ]




Message Edited by Lori344 on 07-15-2007 01:59 AM

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+