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FlyByWire
Posts: 5
Registered: ‎01-16-2012
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Re: Fiance's old credit mistake hurt her credit - solutions?

[ Edited ]

Ive read that the process of adding an authorized user on a CC no longer boosts the FICO scores, due to misuse by people selling "stakes" of users on their good accounts.

 

Though, as usual, the internet is rife with contradictions regarding the subject

 

Also, with respect to the GW letters, is it necessary to have the full original account numbers? Im not sure my fiance kept any of the information about those accounts, and all of the information in the CRs is redacted with respect to the account number.

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SanFranMatt
Posts: 347
Registered: ‎09-16-2007
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Re: Fiance's old credit mistake hurt her credit - solutions?


FlyByWire wrote:

Ive read that the process of adding an authorized user on a CC no longer boosts the FICO scores, due to misuse by people selling "stakes" of users on their good accounts.

 



I read that a few years ago when the new scoring was supposed to come out.  When I originally added her as an AU on my cards, her scores instantly went from mid 500's up to mid 600's.  Last I checked (August 2010) she was close to 700, so they were still factored into her scores from this site.

Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
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Re: Fiance's old credit mistake hurt her credit - solutions?


FlyByWire wrote:

Ive read that the process of adding an authorized user on a CC no longer boosts the FICO scores, due to misuse by people selling "stakes" of users on their good accounts.

 

Though, as usual, the internet is rife with contradictions regarding the subject

 

Also, with respect to the GW letters, is it necessary to have the full original account numbers? Im not sure my fiance kept any of the information about those accounts, and all of the information in the CRs is redacted with respect to the account number.


The new TU 08 that came out tried to get rid of the AU bonuses but they got turned down, so AU accounts still affect the score, good and bad, depending on the account.

 


 

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
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RobertEG
Posts: 18,442
Registered: ‎03-19-2007
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Re: Fiance's old credit mistake hurt her credit - solutions?

I believe the decision to back off on the elimination of AU inclusion in credit scoring had to do with some possilbe legal implications under the Equal Credit Opportunities Act.

Not sure of the details.

 

Anyone can post advice on the internet.  The tons of silly DV letters that abound, requiring everthing from a debt collector other than their first-born,  are a testament to that unfortunate fact.


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