01-29-2013 10:04 PM
Hi everyone, new member here!
So apparently I am an AU on one of my older brother's credit cards. He has been racking up to 95% of the card's utility for quite some time now (having trouble paying it off). Unfortunately, this account is also my oldest TL (6 yrs). His util is really killing my overall util at 46%, and I know this will hurt my chances on applying for future credit.
My question is, if I have him take me off as an AU, how will that report on my credit reports? Will the util history still remain and destroy me? Will my AoAA decrease?
Any advice is much appreciated, thanks!
01-30-2013 03:14 AM
The account should disappear from your credit file. Since it is your oldest TL, your AAoA will likely decrease (it can't go below 1 year).
01-30-2013 08:03 AM
01-30-2013 12:28 PM
AAoA is only part of a lower weighted scoring category.
A maxed card is a killer in the more significant category of util of credit.
I would expect an overall score increase.
Plus, the added benefit of no longer having the credit of another clouding your actual score.
Prospective creditors, when doing a manual review of a report that includes an AU account, have no way to determine the actual score of the consumer based only on their own credit history. AUs are good for obtaining new credit when the creditor is not doing a manual review, but could be a detriment if they want to consider only your own credit history.
01-30-2013 01:10 PM - edited 01-30-2013 01:10 PM
Thanks for the input everyone.
Any idea how long it would take for the card to stop reporting to my CRAs? I got my brother to remove me as an AU today.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.