topic Re: authorized user in Credit Cards

authorized user

Anonymous — Tue, 17 Jul 2007 23:06:59 GMT

i am an authorized user on a sears credit card that is in good standing. if i want to remove my name will that lower my score?

Re: authorized user

fused — Tue, 17 Jul 2007 23:18:34 GMT

lavidap wrote:
i am an authorized user on a sears credit card that is in good standing. if i want to remove my name will that lower my score?

How much your scores drop will depend on how many other CC TLs you have and if they are in good standing as well as other TLs such as loans (student, auto, personal) and mortgages. If this is your only tradeline or if you have a thin file, your scores could drop significantly. Read the thread below on this very subject.

http://credit.com/credit_information/credit_report/Consumer-Alert-FICO-Formula-Changes.jsp

Re: authorized user

Anonymous — Wed, 18 Jul 2007 17:25:10 GMT

lavidap wrote:
i am an authorized user on a sears credit card that is in good standing. if i want to remove my name will that lower my score?

May want to apply for some of your own credit before dumping the AU... The AU will remain on your credit for a long while even if you cancel the AU status. Take advantage now, and get some of your own credit while you still can. Sept. coming up fast, and no one knows which CRA wil drop your score as a result of AU FICO disassociation.

It is not a problem removing yourself as an AU a call to the CCC should suffice. Or the person that added you can call if it makes you more comfotable.

Rob

Re: authorized user

Bruiser — Wed, 18 Jul 2007 17:53:39 GMT

if it is in good standing and you get it removed, then yes, it will lower your score

let it fall off and it may stay on your credit report, but if you ask for it to be removed then it will disappear all together, even the past payment history

i would leave it alone and see what happens in Sept

only one of the 3 cra's will not count it in your score, it will still show on your credit report though

when one of my AU's dropped, my score went down 16 points, but it depends on what all is on your credit report and the au account

Re: authorized user

Anonymous — Wed, 18 Jul 2007 17:56:07 GMT

Bruiser wrote:
if it is in good standing and you get it removed, then yes, it will lower your score

let it fall off and it may stay on your credit report, but if you ask for it to be removed then it will disappear all together, even the past payment history

i would leave it alone and see what happens in Sept
only one of the 3 cra's will not count it in your score, it will still show on your credit report though

when one of my AU's dropped, my score went down 16 points, but it depends on what all is on your credit report and the au account

Right... The OP should get some of his / her own credit before removing.

Rob

Re: authorized user

MidnightVoice — Wed, 18 Jul 2007 17:56:13 GMT

lavidap wrote:
i am an authorized user on a sears credit card that is in good standing. if i want to remove my name will that lower my score?

It will drop off from one CRA this fall, and the others next year anyway, at least in terms of score calculations

Re: authorized user

Bruiser — Wed, 18 Jul 2007 18:05:30 GMT

FICO_Focused wrote:

Right... The OP should get some of his / her own credit before removing.

Rob

agreed

Re: authorized user

Anonymous — Wed, 18 Jul 2007 19:17:49 GMT

lavidap wrote:
i am an authorized user on a sears credit card that is in good standing. if i want to remove my name will that lower my score?

Is it a spouse's CC?

Re: authorized user

Anonymous — Wed, 18 Jul 2007 20:04:45 GMT

If you add someone to your cc account, how does it reflect on the authorized users CR when the SSN is not asked for? Also, how long does it take for the account to show up on the authorized users CR?

Re: authorized user

Anonymous — Wed, 18 Jul 2007 20:31:48 GMT

shoegirl wrote:
If you add someone to your cc account, how does it reflect on the authorized users CR when the SSN is not asked for? Also, how long does it take for the account to show up on the authorized users CR?

If they don't ask for the SSN, then there's a good chance they ain't gonna report it to the CRAs. I'm AU on one of DW's CCs, and they won't do joint accounts. Children's Place store card. Think it's Royal Bank of Scotland, or some such thing. Shows on my CRs, and I think they did ask for my SSN.

However, AU benefits are going away. There remains a window thru which one can still jump and take advantage of AU benefits, for at least a couple of months.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=4894

Re: authorized user

Anonymous — Wed, 18 Jul 2007 21:05:38 GMT

I don't think the SSN is requested by many (most?) CCCs because the AU is not responsible for the account. The CCC can report with just name and address, as far as I know. (Look how many bogus collections are reported where the CAs have no SSN). I added my DW as AU on my BOA account and they did not ask for an SSN. It posted on her CRs on the second statement date after I added her.

Re: authorized user

Anonymous — Wed, 18 Jul 2007 21:11:36 GMT

Revike wrote:
I added my DW as AU on my BOA account and they did not ask for an SSN. It posted on her CRs on the second statement date after I added her.

And yet they like to claim, "You need to send us more info to verify who you are." Yeah, right.

As an experiment, if anyone is going to add someone as an AU, call the OC and make the request over the phone. If they don't ask for an SSN, offer up the info. "Heh, umm, don't you need their SSN?" I'm holding out hope someone is going to hear, "Hee, hee, hee. We know who they are."

Re: authorized user

gringo43 — Thu, 19 Jul 2007 00:55:45 GMT

I got added as AU to DWs BofA amex rewards a couple of weeks ago. TU dropped by 4pts and Eq dropped 1pt. I wonder........is good ol FICO gonna give me those points back when they no longer include AU accounts? Hmmm....?

Re: authorized user

Anonymous — Thu, 19 Jul 2007 01:06:55 GMT

gringo43 wrote:
I got added as AU to DWs BofA amex rewards a couple of weeks ago. TU dropped by 4pts and Eq dropped 1pt. I wonder........is good ol FICO gonna give me those points back when they no longer include AU accounts? Hmmm....?

I think so... But which one is a mystery.

Rob

Re: authorized user

Anonymous — Mon, 26 Nov 2007 21:09:43 GMT

I was added as an AU on BoA on the 23rd of Nov. 2007. While I was being added they did not ask for my SSN. However, when I asked "Don't you need my SSN?" They said "Oh, yes please". So I called in today and asked them the status and I was indeed added but their CSR said they will not report any AU to the CRAs.. I aksed him to confirm this and he said that ONLY Joint Account holders get reported... I guess I will wait and see if this guy knows what he is talking about or not. I was hoping that they would report it quickly so I can get some more of my own credit before all the rules change