Affect of removing myself as AU?

[Anonymous]

I'm listed as an authorized user on a few accounts of my moms and two of my husbands.  Some of these I think are negatively affecting my score.  They have balances close to the credit limits.  I am using a tool that allows you to see how different changes will affect your score but it doesn't have 'remove yourself as an AU' as an option...would this be veiwed the same as closing the account or as paying it off (ya right)....How will being taken off the AU status affect my score??? I have no CLUE. I didn't even know that AU status applied to my credit score...I'm on my mom's accounts b/c I had been calling to help her understand some things about her accounts etc....

Thank you so much to anyone who can help me figure out what to do!  (I need to increase my score by 20 points ASAP!)

[smallfry]

If the cards are nearly fully utilized it can't be helping your score too much unless it brings your AAofA up a LOT. Even then I doubt maxxed out cards can help you much. Might even hurt a LOT.

[haulingthescoreup]

If you're using the FICO score estimator, just run it without including the accounts at all --not in age, not in number of accounts, and not in utilization. That should give you an idea of where you would be.

There's a link to the Estimator (this is different from the simulator) in my siggy below.

[RobertEG]

No, closing or payng  one of your own accounts will not have the same affect as being removed as an AU on someone else's account.

If you pay or close one of your accounts, that does not remove its prior history from your CR.

But removal of AU status deletes the account totally from your CR.

IN basic terms, deleting AU status will remove the hits you are taking for any high util on the cards, but will also cost you loss of the age of the account in your AAoA scoring.  %util is much more important, so it appears in broad brush that you might consider its removal.  Also, while it remains, you will take any late payment derogs that the account holder suffers, which is out of your control.

[Anonymous]

Thanks so much for the replies...I'm about to do the 'estimator'.  I think these accounts haven't had me as an authorized user for long (<1-3yrs)...I also have a long credit history.  I belong to a different 'credit score' site and I don't really know where to find the AAoA information but I know I've got quite a bit of time logged.  

I'm terribly confused because I talked to someone today who is supposedly a professional in this area and the advised that if I did anything, such as removing myself as AU, that it could negatively affect things... 

How can this be THIS confusing???  I have 'good' credit but I need 'excellent' credit....

My big QUESTION:

Can I not just remove myself and then have the bank recalculate my score and immediately (or shortly thereafter...like 24hr) I'll be 'excellent'??? Why not?

The more I try to learn about this the more I'm confused.

The accounts are my moms and my husbands and they're in good standing but two are close to the limit (like real close) and one is about 75%.   There will not be late payments. 

Thanks again for the help!! Thank God for the internet...

[haulingthescoreup]

A lot of it depends on what you have in addition to the AU accounts. If they're your ONLY revolving accounts, then yes, you might have a problem.

AU's are nice to plump things up, but they should never be your only accounts.

If you have three accounts of your own with very low util and clean history, then dumping the AU's would probably help.

If you have nothing else, then you might be hurt, as you will then have no open revolving credit, which is pretty critical for your credit scores.

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.

[RobertEG]

I must respectfully disagree with your "professional" advisor.

There are many reasons why removal as an AU can help your score.   Ditching that high %util,l particularly if you already have a good AAoA on your own accounts, is reason enough in the short term.

And remember that FICO score is not all that lendors look at when you app for new credit.  If they do a manual review of your CR, and see an AU account that you are piggy-backing on, they may choose to discount your FICO score.

While you are an AU on an account, the entire account history, warts and all, is scored under FICO just as if you were a joint holder of the account.  It is unreal to me that someone would tell you that it is always to your advantage to voluntarily assume warts.

[Anonymous]

Oh he didn't say that I should definitely keep the AU just that if I had dropped all three, all at once, that it 'may' negatively affect the score b/c ??????  i don't know why but just the fact of doing it all at once would be 'suspicious'? 

I'm off to read the links.

So how quickly could changes to my score be seen if I drop these?  Is there anyway to speed it up? Do you all credit watch through 'myFICO'??? I haven't gotten into this yet....

Ok, really off to read...thanks again and again! 

[RobertEG]

Whatever you decide to do, dont expect any immediate posting to your CR, and thus FICO scoring

I takes time for the OC to post, within their normal cycle. Up to a month from now.  And it is at their business whims.  Then it goes to the CRA for entry into your credit file. Another delay.

It could be as immediate as a week, but could take a month or more.

All I ever count upon is two months from reporting.