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Regular Contributor
Posts: 148
Registered: ‎01-29-2013
0

Closing AU with reported balance

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! Smiley Wink

 

 

Frequent Contributor
Posts: 471
Registered: ‎03-29-2011
0

Re: Closing AU with reported balance

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).

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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Closing AU with reported balance

No, that cards utilizaton and everything else will be gone.  If it is your oldest card your AAoA will be dinged.

Epic Contributor
Posts: 21,295
Registered: ‎03-19-2007
0

Re: Closing AU with reported balance

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.

Regular Contributor
Posts: 148
Registered: ‎01-29-2013
0

Re: Closing AU with reported balance

[ Edited ]

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.

Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Closing AU with reported balance

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