topic Re: New AU Rules Question in General Credit Topics

New AU Rules Question

Anonymous — Mon, 23 Jul 2007 20:24:55 GMT

I am an authorized user on an account that is over its limit. Effective, Sept. one of the credit card companies will stop using that in its scoring formula. What company is that and how do you think its going to impact my credit scores? Tu-574, EQ-532,EX-547

Re: New AU Rules Question

Anonymous — Mon, 23 Jul 2007 20:41:03 GMT

I would think it would make your scores go up. Although...over the limit is NOT good, so I would ask the CRA to remove the info from your reports.

Re: New AU Rules Question

MidnightVoice — Mon, 23 Jul 2007 20:46:25 GMT

creditsoaring2007 wrote:
I am an authorized user on an account that is over its limit. Effective, Sept. one of the credit card companies will stop using that in its scoring formula. What company is that and how do you think its going to impact my credit scores? Tu-574, EQ-532,EX-547

No one yet knows who it will be come this fall, but the money here is on EQ.

The others are supposed to follow next year.

Re: New AU Rules Question

Tuscani — Mon, 23 Jul 2007 22:17:27 GMT

I would dispute that account as not mine. The account is currently hurting you.

Re: New AU Rules Question

Anonymous — Mon, 23 Jul 2007 22:20:38 GMT

I did do an online dispute on Saturday with Equifax in reference to that account. I called and tried to have it removed over the phone, but the representative told me it couldn't be removed until the balance reached 0.

Re: New AU Rules Question

Tuscani — Mon, 23 Jul 2007 22:24:26 GMT

creditsoaring2007 wrote:

I did do an online dispute on Saturday with Equifax in reference to that account. I called and tried to have it removed over the phone, but the representative told me it couldn't be removed until the balance reached 0.

BS... Unless this is a joint account you are not liable. Is it reporting to all three CRAs?

Message Edited by Tuscani on 07-23-2007 05:24 PM

Re: New AU Rules Question

Anonymous — Mon, 23 Jul 2007 23:49:34 GMT

It is reporting to all 3 CRA's and I have disputed it in the past with Equifax and they verified the debt. What do you suggest is my next course of action?

Re: New AU Rules Question

fused — Tue, 24 Jul 2007 03:25:06 GMT

creditsoaring2007 wrote:
I am an authorized user on an account that is over its limit. Effective, Sept. one of the credit card companies will stop using that in its scoring formula. What company is that and how do you think its going to impact my credit scores? Tu-574, EQ-532,EX-547

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

Re: New AU Rules Question

Anonymous — Tue, 24 Jul 2007 12:45:46 GMT

Wonderful. This is going to be interesting. Since I am an AU on an account with a balance that is over the limit, its going to be interesting to see how my scores change. I will not get my scores intentionally until after Sept and will report back to you guys. I am currently at:

TU-576, EQ-534,EX-547----> I hope to move them in the area of the low 600's. Then my next problem is that I will not have any open revolving accounts! Does anyone have any suggestions on this aspect?

Re: New AU Rules Question

Anonymous — Tue, 24 Jul 2007 14:12:10 GMT

@Anonymous wrote:
It is reporting to all 3 CRA's and I have disputed it in the past with Equifax and they verified the debt. What do you suggest is my next course of action?

Who is the primary cardholder? The first course of action should have been for you to have the primary cardholder call the CCC and request that you be removed from the account as an AU. If that is not feasible for some reason, you can call the CCC yourself and request to be removed.

Re: New AU Rules Question

Anonymous — Wed, 25 Jul 2007 01:11:47 GMT

How can I prove that my DH is not a joint account holder? He never filled out any pprwk or signed any documents but got stuck with the debt.