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Ah man, bummer! Help please....

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kjm79
Valued Contributor

Re: Ah man, bummer! Help please....

If the 8 point loss was due to ONLY the adding of the AU account, then removing it will recover those 8 points.  After the house goes through, he can add you back on if that's what you wanted to do. 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 11 of 28
GoodCredBen
Valued Contributor

Re: Ah man, bummer! Help please....

Read my post! Smiley Happy

 

I am 99% sure that if you remove yourself, your score should go right back up to where it was, but i think that you could get a little better of a bump (since you get most of your point bumps from util BELOW 30%) 

 

but take his card away so he doesnt rack up charges on you haha... 

 

Thats what my fiance did to me >.> 

 

EDIT: And FICO scoring wants you to be BELOW 10% util Smiley Happy 

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.
Message 12 of 28
Bri89
Valued Member

Re: Ah man, bummer! Help please....

kjm79, yes according to the Score Watch Alert it said a new account was added. 

It said:
1 new account was added to your credit report
Message 13 of 28
Bri89
Valued Member

Re: Ah man, bummer! Help please....

Sweet!! I am going to call Discover and take myself OFF, oh wait right after I have him make a payment of course...

 

Thanks a million! Smiley Happy

Message 14 of 28
GoodCredBen
Valued Contributor

Re: Ah man, bummer! Help please....

Wait, why would you do both? 

 

Stay on and make a payment, or get off and dont make a payment -.-;; 

 

lol 

 

 

EDIT:

 

8 pts i dont think is going to break the bank... unless your mid score is below 620/640/660 w/e your req was. 

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.
Message 15 of 28
kjm79
Valued Contributor

Re: Ah man, bummer! Help please....

Did you pull an actual report after you received the alert?  Alerts are great to get but the score increase/decrease doesn't always correlate to the alerts unfortunately. 

 

Do you have other credit cards of your own reporting?  If so, what are their limits and balances?  As already stated, util is a huge factor in your score.  Do you know your AAoA without the AU account and with the AU account?


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 16 of 28
Bri89
Valued Member

Re: Ah man, bummer! Help please....

Oh wait, sorry ok I got confused. I see what your saying now. What I had thought intially was that if I remove myself it would negatively affect my credit score MORE. The lady at Discover told me she could remove me right than and there and there would be no negative affects at all. However a rep at Myfico (called the 1800 #) told me that I should pay it off completely than take myself off. Honestly I DO NOT want to be on the card anymore because it limits my fiance to using only a certain amount and all that, the problem is I can't do that because I am the one getting the house and I am the one rebuilding my credit, not him, his is already excellent. SO I just want off, so I can control my score and not limit him. You understand what I am trying to get at?

 

Basically my question is....If I take myself off as an AU will it negatively affect my score in anyway? AND should I pay if off than take myself off, or can I right now (with his $150 bal) ?

Message 17 of 28
GoodCredBen
Valued Contributor

Re: Ah man, bummer! Help please....

Okay, i dont want to be mean but it seems that a couple different responses are confusing you and please, listen to each persons post as their opinion and another option of the way to go....

 

BUT my opinion is, in all reality, does that 8 pts stop you from getting approved?

 

If not, then leave it and let it age, but pay off that 100% so it doesnt count to your util %....

 

ALSO - if you pay it, leave yourself on, if you DONT pay it, go ahead and take yourself off.

 

If you take yourself off, you should see an 8pt bump right back to where you were Smiley Happy 

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.
Message 18 of 28
Bri89
Valued Member

Re: Ah man, bummer! Help please....

No I didn't.

 

I have one major CC and 2 department store CC's. Both department store CCs are at a zero balance and the Discover is at 4% util. The NEW AU account only has a limit of $1000 so not a huge amount.

Message 19 of 28
kjm79
Valued Contributor

Re: Ah man, bummer! Help please....

OP doesn't want to be tied to that card or have the fiance limit what can be used on it.  There will be no negative result from being removed as an AU and you don't need to pay it before or after.  Just call up and remove yourself. 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 20 of 28
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