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Stay on as AU but get off report if hurting credit?

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dmorey
Contributor

Stay on as AU but get off report if hurting credit?

A couple of monts ago I was added as an AU on my parents USAA card with a $30k limit. The problem is that it's maxed out and has dropped my credit even more plus it adds a lot of debt. (Without this I have $58k in student loans and am using very little of my $1500 TOTAL credit limits for 2 secured cards and 2 store cards.) However, I know my parents and my dad will be really hurt if I ask to get taken off. So much so I'd rather leave it than ask to get taken off. That's just the way he is.

 

Is there a way to stay on as an AU but get it off my reports? What happens if I dispute as not mine?

Message 1 of 14
13 REPLIES 13
ktl72455
Valued Contributor

Re: Stay on as AU but get off report if hurting credit?

If you dispute as NOT MINE they will remove you. I am not sure how you can be AU and not show on your CR. Any chances the parents will get it paid down? If your dad will be hurt maybe you could talk to him about your credit and get his input and let him see where its hurting your credit. It may be something he dont even realize, the impact its having on his and your credit.

 

Sometimes I can use reverse thinking and let my dad think he is helping me solve a problem of mine, which inturn gets him to help with no offense to him :-)

 

From MI.
12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
6/12/20 TU 803 ~ EQ 814~ Ex 784
My Wallet: Cap1 3,500K ~FH 2950~Credit One 1750~Credit one #2 1250~Orchard Bank 400 ~NFCU nRewards 18,000~NFCU Cash Rewards 18,500 ~Care Credit 12000~Discover 6000~Lowes 5450~ Amex 5400.00 ~ Harvest King 8000 ~ Langley~Penfed~Service CRU~red stone cru~
UTL 17%
Message 2 of 14
dmorey
Contributor

Re: Stay on as AU but get off report if hurting credit?

I don't forsee them doing any significant paying down in the coming months. I tried that previously because he planned to add me as an AU on two cards. The other is similar -- large limit and large balance. After this one I said I wanted to wait and see. I told him because my income and available credit is much lower that having that much debt probably hurts my credit much more than his. He still seemed hurt about that one and brought it up several more times, which is why I'm not sure what to do about this one. The available credit on the USAA card is about $1300. Last week it was about $550 on $30k.

Message 3 of 14
ktl72455
Valued Contributor

Re: Stay on as AU but get off report if hurting credit?

You can also call and have yourself removed and I dont think he would know. Maybe? I know I removed myself off my moms but it was a CO. 

I dont know if they contact the account holder or not to let them know.

Maybe some one else will chime in here.

 

Or explain to your dad that right now you need to do this for you and later when his balances are down so it wont hurt you that you would love to be back on as a AU.

 

But bottom line , right now its about you and you will need to make that call. Hurt dads feelings or let his credit drag you down.

From MI.
12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
6/12/20 TU 803 ~ EQ 814~ Ex 784
My Wallet: Cap1 3,500K ~FH 2950~Credit One 1750~Credit one #2 1250~Orchard Bank 400 ~NFCU nRewards 18,000~NFCU Cash Rewards 18,500 ~Care Credit 12000~Discover 6000~Lowes 5450~ Amex 5400.00 ~ Harvest King 8000 ~ Langley~Penfed~Service CRU~red stone cru~
UTL 17%
Message 4 of 14
pizzadude
Credit Mentor

Re: Stay on as AU but get off report if hurting credit?

I'd get removed from the AU accounts. Maxed out revolving utilization is going to hurt your FICO® score.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 5 of 14
dmorey
Contributor

Re: Stay on as AU but get off report if hurting credit?

I wasn't added as an AU on the second FYI. I'm only AU on one. Think maybe I will call USAA (both of my secured cards are from USAA also) tell them the truth and see what they say. I also wondered though, if I call USAA and the review my parents account I hope it won't draw any unwanted attention as far as being maxed, most likely for quite a while?

Message 6 of 14
RobertEG
Legendary Contributor

Re: Stay on as AU but get off report if hurting credit?

 

Doing it back door by disputing as "account not mine" is, in my opinion, kinda contradictory.  The very definition of an AU account is an "account not mine" that the system, nonetheless, permits to be included in your credit file. 

 

The consumer and principal account holder have, through the creditor of the principal account owner, consented to the reporting of the credit history of another to the consumer's file.  Statement of "account not mine" is thus actually no more than a statement of the facts, and not an inaccuracy.

 

However, if that back-door process will get the CRA to delete, then go for it.

 

The secondary negative impact of having an AU reported to your file is that it makes it impossible for a prospective creditor, should they desire to do so, to see your "real" score based only on your credit history, as they have no way to back-out the added history of another from the scoring.

For creditors that rely primarily or only on a FICO score in their decision making, the issue wont arise.  However, if one applies for higher levels of credit where the creditor does a manual review of your report, having an AU account reporting may discount its value.

 

Maybe a wake-up call to the parents as to the negative effect the account is also having on their scoring........

Message 7 of 14
ktl72455
Valued Contributor

Re: Stay on as AU but get off report if hurting credit?

You could call them and say Since I have 2 secured cards through you,  I no longer feel the need to be a AU on my dads account.  Honest with out details about thier account or balances.

They only need to know that you request to be removed at this time.

 

From MI.
12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
6/12/20 TU 803 ~ EQ 814~ Ex 784
My Wallet: Cap1 3,500K ~FH 2950~Credit One 1750~Credit one #2 1250~Orchard Bank 400 ~NFCU nRewards 18,000~NFCU Cash Rewards 18,500 ~Care Credit 12000~Discover 6000~Lowes 5450~ Amex 5400.00 ~ Harvest King 8000 ~ Langley~Penfed~Service CRU~red stone cru~
UTL 17%
Message 8 of 14
dmorey
Contributor

Re: Stay on as AU but get off report if hurting credit?

Thanks for everyones help! Called USAA a few days ago and removed myself as an AU (though I still have not tackled talking to dad.) Turned out to be best case scenario. On my EQ and EX reports it already updated and the account still lists but says terminated under responsibility. So I think I am getting the benefit of the card without the negative maxing out/debt part, which is awesome. Didn't know they would leave it on my reports, but I'm glad they did.

Message 9 of 14
dmorey
Contributor

Re: Stay on as AU but get off report if hurting credit?

I have a follow up question. I was removed as an AU on this card a month ago. The card was completely deleted from Experian, but I'm not sure if the way it is listed is correct -- particularly on Transunion.

 

On Equifax it is still listed, but says account owner terminated. Under balance it says n/a, but everything else look the same. On Transunion, it says terminated too, but I think the balance is factoring into my utilization? What do you think? Here is how it appears:

 

USAA SAVINGS BANK  #****
10750 MCDERMOTT FWY
FWY
SAN ANTONIO, TX 78288-1600
(800) 922-9092
Date Opened:10/11/2000
Responsibility:Account Relationship Terminated (01/15/2013) (01/15/2013)
Account Type:Revolving Account
Loan Type:CREDIT CARD
Date Updated:01/15/2013
Payment Received:$1,000
Last Payment Made:01/07/2013
Pay Status:Current; Paid or Paying as Agreed
Terms:$526 per month, paid Monthly
High Balance: High balance of $30,256 from 12/2012 to 01/2013
Credit Limit: Credit limit of $30,000 from 12/2012 to 01/2013
 
 
01/2013
12/2012
11/2012
10/2012
09/2012
08/2012
07/2012
06/2012
05/2012
04/2012
Balance
$28,686
$27,919
 
 
 
 
 
 
 
 
Amount Due
$526
$526
 
 
 
 
 
 
 
 
Amount Paid
$1,000
$2,600
 
 
 
 
 
 
 
 
Past Due
$0
$0
 
 
 
 
 
 
 
 
Rating
OK
OK
OK
OK
OK
OK
OK
OK
OK
OK
  
02/2012
01/2012
12/2011
11/201
10/2011
09/2011
08/2011
07/2011
06/2011
Rating
OK
OK
OK
OK
OK
   
OK
OK
 
05/2011
04/2011
03/2011
02/2011
01/2011
     
Rating
OK
OK
OK
OK
 
Message 10 of 14
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