Revolving/open credit - charge-offs and authorized user

[Anonymous]

I was looking at the suggestions here in scorewatch and one thing that constnatly pops up is my revolving credit. I only have one small-balance CC currently open. I have one that is charged-off and one that I am an AU on. 

It seems to be showing the total for my open and charged-off accounts, yet not showing the AU account. 

My questions - 

Does FICO not count AU card to anything?

Should a charged-off card's balance count towards this? It says that if I pay off my revolving/open balance (which is what appears to just be my open and charged-off card) that my score would jump about 70 points. Does this sound right?

Thanks!

[RobertEG]

The fact that a creditor took the accounting measure of moving the debt from a receivable asset to a bad debt in their accounting ledge, which is what taking of a charge-off is, does not affect the consumer's continued obligation for the entire debt, and does not remove the debt balance from inclusiion in your percent util calculation if it is a revolving account. 

As for the AU account, are you saying that it is not appearing in your credti report?

If that is the case, then most likely the creditor is not reporting it to the CRA.  Not all creditors report AUs.

[Anonymous]

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@RobertEG wrote:

The fact that a creditor took the accounting measure of moving the debt from a receivable asset to a bad debt in their accounting ledge, which is what taking of a charge-off is, does not affect the consumer's continued obligation for the entire debt, and does not remove the debt balance from inclusiion in your percent util calculation if it is a revolving account. 

As for the AU account, are you saying that it is not appearing in your credti report?

If that is the case, then most likely the creditor is not reporting it to the CRA.  Not all creditors report AUs.

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No, it is definitely on all three of my reports. It is only on scorewatch where it shows my current revolving/open accounts and the total number is like 4k - the balance on the AU account is 15-16k, so it is just not showing that and I don't understand why.

[Anonymous]

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@Anonymous wrote:

I was looking at the suggestions here in scorewatch and one thing that constnatly pops up is my revolving credit. I only have one small-balance CC currently open. I have one that is charged-off and one that I am an AU on. 

It seems to be showing the total for my open and charged-off accounts, yet not showing the AU account. 

My questions - 

Does FICO not count AU card to anything?

Should a charged-off card's balance count towards this? It says that if I pay off my revolving/open balance (which is what appears to just be my open and charged-off card) that my score would jump about 70 points. Does this sound right?

Thanks!

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Not sure how FICO scores AU accounts now, but there has been talk that FICO would start putting less scoring emphasis on AU accounts.

Yes, the charged off card goes against your UTI. This is the reason charged off credit cards are so much more damaging to your scores than anything else. Paying it off and getting your UTI% under control is the number one thing you can do to improve scores.

[TRC_WA]

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@Anonymous wrote:

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Not sure how FICO scores AU accounts now, but there has been talk that FICO would start putting less scoring emphasis on AU accounts.

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As it should IMHO...  I've never understood how an AU (who isn't responsible for the bill) can benefit from piggybacking someone else's CC.

[Anonymous]

Yes, I find that to be rather baffling as well....

[Anonymous]

In this case I'm not really piggybacking off it as it has a 16k limit and hasn't had under 15,500 in about 6 years. I'm actually asking mainly because I'm trying to decide whether I should have myself removed as AU or not and was initially told it would probably be better off. But, if FICO doesn't even factor it in what is it hurting being on there.

[gdale6]

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@Anonymous wrote:

In this case I'm not really piggybacking off it as it has a 16k limit and hasn't had under 15,500 in about 6 years. I'm actually asking mainly because I'm trying to decide whether I should have myself removed as AU or not and was initially told it would probably be better off. But, if FICO doesn't even factor it in what is it hurting being on there.

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I would not even be an AU on an account that is nearly maxed all the time, if Fico were to score it, it would cost you a lot more than if you didnt have it.