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AU accounts and UW

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Anonymous
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AU accounts and UW

I am an authorized user on 2 of my mothers accounts (Cap 1 and JC P) i have been making payments for both for about 7 months now. My mother is retired and has limited income. I am currently living with her until I purchase a home. How will these 2 accounts be looked at during the underwritning process? If they are not considered, do they recalculate your score and ommit them? I've read in these forums where some say these accounts can be used to boost your score to try to reach 620. I've also read that these accounts are not considered. I am looking at buying a house within the next 6 months but I am not sure whether to remove them or not. My scores right now are 589 anf 617 with utilization at around 80%. I should be above 620 in 6 months when I bring my balances down. I am a little confused as to how it works. If anyone here has had experience with this I wouold appreciate it.
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: AU accounts and UW

Do these two credit accounts show up on your credit report?
Message 2 of 5
Anonymous
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Re: AU accounts and UW

Yes they do. They've been reporting for a few months now.
Message 3 of 5
Lel
Moderator Emeritus

Re: AU accounts and UW


johnny_wishbone wrote:
I am an authorized user on 2 of my mothers accounts (Cap 1 and JC P) i have been making payments for both for about 7 months now. My mother is retired and has limited income. I am currently living with her until I purchase a home. How will these 2 accounts be looked at during the underwritning process? If they are not considered, do they recalculate your score and ommit them? I've read in these forums where some say these accounts can be used to boost your score to try to reach 620. I've also read that these accounts are not considered. I am looking at buying a house within the next 6 months but I am not sure whether to remove them or not. My scores right now are 589 anf 617 with utilization at around 80%. I should be above 620 in 6 months when I bring my balances down. I am a little confused as to how it works. If anyone here has had experience with this I wouold appreciate it.

That's a really high utilization, and it's hurting your score.  Those AU accounts - are those the ones with the high utilization?  Or are you the account owner of the cards that a responsible for your high utilization?

 

If those AU accounts do not have high balances, then they're helping you to the extent that they are decreasing your utilization percentage.  If the AU accounts are driving up your utilization, then you might want to consider removing yourself from those cards, though you will lose some AAoA by doing that.

Message 4 of 5
Anonymous
Not applicable

Re: AU accounts and UW

The utilization on those cards alone is about 30%. I have a higher utilization on my cards. I am the only one making payments on her cards. I plant to bring all of them down to under 10% utilization by September, including mine. They are older than my accounts so I know in that sense they do help. I am just concerned that once I bring them down to under 10% and I apply for a mortgage, they will not be considered because I am AU on them. Coould this happen? If that is the case, then I will only make slightly above minimum payments for her, and not worry about bringing them down if they will not be considered I might as well drop them.
Message 5 of 5
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