Reply
Established Contributor
Posts: 501
Registered: ‎05-01-2007
0

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
Posts: 581
Registered: ‎04-11-2007
0

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
Posts: 212
Registered: ‎06-30-2007
0

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
Posts: 144
Registered: ‎06-01-2007
0

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
Posts: 16,374
Registered: ‎03-12-2007
0

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.
 
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Frequent Contributor
Posts: 313
Registered: ‎04-01-2007
0

Re: AUTHORIZED CACCOUNT USERS

[ Edited ]




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

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.