topic Re: FICO 8 Removed authorized users from open accounts in Understanding FICO® Scoring

FICO 8 Removed authorized users from open accounts

Anonymous — Wed, 09 Dec 2015 21:33:12 GMT

I am an authorized user on my husbands credit card accounts. I just watched my FICO Score drop 70 points because FICO 8 removed authorized users from open accounts that were previously reported on authorized users credit reports. BUT, they did not remove those same accounts from Balances owed. My credit report has taken a real hit. Seems like they should not have it both ways. Remove the open accounts from authorized users credit reports and remove the corresponding account balances too.

Re: FICO 8 Removed authorized users from open accounts

CH-7-Mission-Accomplished — Wed, 09 Dec 2015 21:39:32 GMT

I'm interested in what you are saying, but it's not clear to me Can you please explain in greater detail?

Are you saying FICO just made a new change in how it scores? What is the source of your information?

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Wed, 09 Dec 2015 22:05:04 GMT

FICO 8 no longer scores authorized users on accounts as was in previous models. My previous score was 712, showed 7 accounts open and paid on time. 6 of those accounts I was an authorized user on my husbands credit cards, one I am joint owner. My credit score just dropped , nothing had changed on my report to warrent the drop in my score. So I contacted Experian

When I contacted Experian they said it was because I have only 1 open account. I pointed out that 7 open accounts show on my credit report. They said yes that is because of the balances of those 7 accounts are reportable for the purpose of $$ owed. So it was explained with FICO 8 that authorized users will no longer factor into the FICO score as was in previous models. Bottom line for AUTHORIZED USERS the only account data factored into their FICO8 scores is the amount of balances and debt. As a result my FICO score dropped to 634 because only 1 account is factored.

Right or Wrong sure hope this makes sense since that is the way Experian explained to me.

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 00:54:31 GMT

My FICO08 scores are fine, and they're entirely held up by my AU accounts, my personal tradelines wouldn't be supporting anything close to scores in the 700s

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 00:57:07 GMT

Wouldn't they have had to put out an entirely new model? Do they just randomly change existing models like that?

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 01:01:08 GMT

Experian only one doing that. Just talked to them and said that information I was given is correct and only resolution is to dispute the accounts that I am only an authorized user and get them removed. 😳

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 01:07:18 GMT

alright, i find it strange that the boards aren't blowing up with many people saying the same thing, guess i'll just keep an eye on my EX score for now

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 01:21:08 GMT

I can only relay what happened to me and the explanation from Experian.

Log on to your Experian Account

Select Score

Select What is Hurting Your Score

Select Few Current Accounts

If the number of open paid accounts does not match that number, then you need to check with Experian for an Explanation.

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 01:27:46 GMT

I don't use experian

Re: FICO 8 Removed authorized users from open accounts

gdale6 — Thu, 10 Dec 2015 02:12:51 GMT

The explanation you are getting from EX is no longer correct. Initially yes Fico8 did remove AU accounts from being factored in but that was reversed after many complaints and was re-instated into the model. If you only have 1 card in your own name I would advise that you obtain at minimum 2 more in your own name, you will need this to drive your score especially with lenders that completely discount AUs in any way shape or form. I would look elsewhere for an explanation of the score drop.

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 14:28:50 GMT

Imo, there is no point in even working on your credit if you're not going to build trade lines of your own

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 20:24:15 GMT

I'm confused, ex from cct today has my 2 au accounts still. My one 11k just reported 3k today, as well. My last 3b pull from dec 3rd showed both au accounts, also. Unless this just stopped on tu and eq the past couple of weeks?

Maybe this is why my barclays doesnt show a fico for me anymore because without my one au account, I don't have 6 months of history to generate a fico.

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 21:09:47 GMT

What are your relations to your AUs

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 21:22:16 GMT

My dad, same last name, same address.

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 21:23:40 GMT

That's weird

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 21:25:10 GMT

Yea, I dunno, my next 3b is the 4th next month so I'll see then.

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 21:26:49 GMT

I'm scared, I wonder if I should apply for things I need now

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 21:37:31 GMT

I wish one of the elders would chime in, where is Norman and robert

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 22:35:47 GMT

@Anonymous wrote:
I am an authorized user on my husbands credit card accounts. I just watched my FICO Score drop 70 points because FICO 8 removed authorized users from open accounts that were previously reported on authorized users credit reports. BUT, they did not remove those same accounts from Balances owed. My credit report has taken a real hit. Seems like they should not have it both ways. Remove the open accounts from authorized users credit reports and remove the corresponding account balances too.

Exactly WHERE are you getting this score from?

Re: FICO 8 Removed authorized users from open accounts

Anonymous — Thu, 10 Dec 2015 22:44:27 GMT

Upon checking ck again just now, my 11k au account didnt update from $426 to $3k balance (eq and tu), so only on ex according to cct, so if fico08 stopped factoring in au accounts, I'm lost.