topic Re: Couple of Questions in General Credit Topics

Couple of Questions

Eyisila — Fri, 01 Aug 2014 17:14:03 GMT

1. Does being an AU on an account affect your AAoA? I was added as an AU on my mother in law's Amex BCP that she just opened 2 months ago. She opened it to help DH and myself with credit etc. Just wondering if that new account affects AAoA, as I know it affects basically everything else .

2. When an item is scheduled to be dropped from a report, does that happen at the first of the month, middle, end, random or what? I have a collection that is scheduled to be removed Aug 2014, according to EX, just wondering when I can/should expect that to be gone.

Thanks everyone in advance for your responses.

Re: Couple of Questions

Revelate — Fri, 01 Aug 2014 18:54:01 GMT

@Eyisila wrote:
1. Does being an AU on an account affect your AAoA? I was added as an AU on my mother in law's Amex BCP that she just opened 2 months ago. She opened it to help DH and myself with credit etc. Just wondering if that new account affects AAoA, as I know it affects basically everything else .

2. When an item is scheduled to be dropped from a report, does that happen at the first of the month, middle, end, random or what? I have a collection that is scheduled to be removed Aug 2014, according to EX, just wondering when I can/should expect that to be gone.

Thanks everyone in advance for your responses.

If the AU is counted (I'm guessing yours may not be under FICO 8, likely different address, last name, and goodness knows what else they're using for their anti-abuse policy) yes it counts like any other credit card for AAOA purposes.

In my limited experience it was first of month, but that may be derog or bureau specific: in other cases it might be on the annual boundary (365 x 7 years or whatever) from last derogatory / activity. I would personally just wait till end of month or spot check a report if I needed it sooner than that.

Re: Couple of Questions

Creditaddict — Fri, 01 Aug 2014 19:30:30 GMT

@Revelate wrote:
@Eyisila wrote:
1. Does being an AU on an account affect your AAoA? I was added as an AU on my mother in law's Amex BCP that she just opened 2 months ago. She opened it to help DH and myself with credit etc. Just wondering if that new account affects AAoA, as I know it affects basically everything else .

2. When an item is scheduled to be dropped from a report, does that happen at the first of the month, middle, end, random or what? I have a collection that is scheduled to be removed Aug 2014, according to EX, just wondering when I can/should expect that to be gone.

Thanks everyone in advance for your responses.
If the AU is counted (I'm guessing yours may not be under FICO 8, likely different address, last name, and goodness knows what else they're using for their anti-abuse policy) yes it counts like any other credit card for AAOA purposes.

In my limited experience it was first of month, but that may be derog or bureau specific: in other cases it might be on the annual boundary (365 x 7 years or whatever) from last derogatory / activity. I would personally just wait till end of month or spot check a report if I needed it sooner than that.

but locking in your member date with Amex will far exceed any negative aa effects now if any.

Re: Couple of Questions

Revelate — Fri, 01 Aug 2014 19:37:21 GMT

@Creditaddict wrote:
@Revelate wrote:
@Eyisila wrote:
1. Does being an AU on an account affect your AAoA? I was added as an AU on my mother in law's Amex BCP that she just opened 2 months ago. She opened it to help DH and myself with credit etc. Just wondering if that new account affects AAoA, as I know it affects basically everything else .

2. When an item is scheduled to be dropped from a report, does that happen at the first of the month, middle, end, random or what? I have a collection that is scheduled to be removed Aug 2014, according to EX, just wondering when I can/should expect that to be gone.

Thanks everyone in advance for your responses.
If the AU is counted (I'm guessing yours may not be under FICO 8, likely different address, last name, and goodness knows what else they're using for their anti-abuse policy) yes it counts like any other credit card for AAOA purposes.

In my limited experience it was first of month, but that may be derog or bureau specific: in other cases it might be on the annual boundary (365 x 7 years or whatever) from last derogatory / activity. I would personally just wait till end of month or spot check a report if I needed it sooner than that.
+1
but locking in your member date with Amex will far exceed any negative aa effects now if any.

Oh dear, I completely missed the Amex part of that. Amex AU's (ACM's actually) get a completely new tradeline on their report with a different account number: they don't inherit the past history, so it won't help your AAOA at all in that regard. CA is correct though, it does setup your membership date for when you potentially apply for your own Amex in the future.

Re: Couple of Questions

Eyisila — Sat, 02 Aug 2014 04:14:48 GMT

Thanks everyone for the replies. I understand that I won't get any 'backdating' for the Amex. Doesn't apply, unless my mother in law had an Amex way back that she hasn't mentioned LoL. I am just wondering about the AAoA of my own personal credit files. Since I am an ACM and did get that new tradeline, that means my AAoA takes a little hit correct?

@Revelate wrote:
@Creditaddict wrote:
@Revelate wrote:
@Eyisila wrote:
1. Does being an AU on an account affect your AAoA? I was added as an AU on my mother in law's Amex BCP that she just opened 2 months ago. She opened it to help DH and myself with credit etc. Just wondering if that new account affects AAoA, as I know it affects basically everything else .

2. When an item is scheduled to be dropped from a report, does that happen at the first of the month, middle, end, random or what? I have a collection that is scheduled to be removed Aug 2014, according to EX, just wondering when I can/should expect that to be gone.

Thanks everyone in advance for your responses.
If the AU is counted (I'm guessing yours may not be under FICO 8, likely different address, last name, and goodness knows what else they're using for their anti-abuse policy) yes it counts like any other credit card for AAOA purposes.

In my limited experience it was first of month, but that may be derog or bureau specific: in other cases it might be on the annual boundary (365 x 7 years or whatever) from last derogatory / activity. I would personally just wait till end of month or spot check a report if I needed it sooner than that.
+1
but locking in your member date with Amex will far exceed any negative aa effects now if any.
Oh dear, I completely missed the Amex part of that. Amex AU's (ACM's actually) get a completely new tradeline on their report with a different account number: they don't inherit the past history, so it won't help your AAOA at all in that regard. CA is correct though, it does setup your membership date for when you potentially apply for your own Amex in the future.

Re: Couple of Questions

Creditaddict — Sat, 02 Aug 2014 04:58:46 GMT

Yes

Re: Couple of Questions

Anonymous — Sat, 02 Aug 2014 21:59:23 GMT

I have a question along the lines of this post.

I'm an AU on my mother's AMEX which gives me an account history ging back 33 years. I never use the card and want to just obtain my own. There is also a closed AMEX account on my report, it shows no balance but it was closed due to non-payment about 10 years ago. Without her AMEX opening date my account history will only go back about 6 years. Would it be wise to apply for my own AMEX and be removed as an AU and lose that history, or just maintain the status qou?

I was just granted a Discover card with a 4800 CL.

Current scores,

Exp 801

EQU 754

TU 758

I'm sure I'm leaving out some additional data that may be helpful and I will ceratinly try and supply as needed. First post here and saw this thread and since it was similar to my sistuation I thought I'd take a shot at asking.

Thanks!

Re: Couple of Questions

Creditaddict — Sat, 02 Aug 2014 22:18:47 GMT

Is get your own and than remove yourself if you wish.

Re: Couple of Questions

Anonymous — Sat, 02 Aug 2014 22:25:08 GMT

So apply for mine own and then be removed as an AU? And take the hit on account history? Which isn't so bad as I'm not buying a house or getting a loan anytime soon so I suppose the score should improve over time.

Re: Couple of Questions

Creditaddict — Sat, 02 Aug 2014 23:09:56 GMT

The account will stay after you remove yourself. It won't be bad

Re: Couple of Questions

Anonymous — Sun, 03 Aug 2014 00:08:56 GMT

Great, thank you for your help!