topic Re: Closing credit card affect on authorized user score in Rebuilding Your Credit

Closing credit card affect on authorized user score

Anonymous — Fri, 24 Apr 2015 22:02:42 GMT

I put a friend as an authorized user on my secured credit card. I would like to close the account after I get some unsecured cards, because my score is good enough now and I don't want to tie up the deposit. Would the authorized user account still stay on her credit report with all the payment history and show that it was closed? She had opened an unsecured card with only a $100 limit 4 months ago. So at least she'll have an active account.

Re: Closing credit card affect on authorized user score

Anonymous — Fri, 24 Apr 2015 22:09:03 GMT

Yes. I was an AU on my DH's credit one card. He opened it 2 years ago. It was closed in February when he got a cap 1 venture and cap 1 QS. My report still shows the credit one account and it shows closed. It isnt serving any purpose now that it is closed because AAoA isn't factored in on AU cards but it will stay on the report for 10 years.

Re: Closing credit card affect on authorized user score

Anonymous — Fri, 24 Apr 2015 22:27:32 GMT

@Anonymous wrote:
Yes. I was an AU on my DH's credit one card. He opened it 2 years ago. It was closed in February when he got a cap 1 venture and cap 1 QS. My report still shows the credit one account and it shows closed. It isnt serving any purpose now that it is closed because AAoA isn't factored in on AU cards but it will stay on the report for 10 years.

Oh that's disapointing.

Re: Closing credit card affect on authorized user score

gdale6 — Fri, 24 Apr 2015 22:47:19 GMT

@Anonymous wrote:
Yes. I was an AU on my DH's credit one card. He opened it 2 years ago. It was closed in February when he got a cap 1 venture and cap 1 QS. My report still shows the credit one account and it shows closed. It isnt serving any purpose now that it is closed because AAoA isn't factored in on AU cards but it will stay on the report for 10 years.

I dont know where you got that info that AAoA isnt factored into AU closed accounts, if its an OC TL is factored in. This is true for Fico.

Re: Closing credit card affect on authorized user score

Anonymous — Fri, 24 Apr 2015 23:17:14 GMT

gdale, there are many posts and sites about it. Fico 8 made a few changes and the information they factor with regards to AU accounts was one of them. I researched it when my own AAoA didn't change after becoming an AU.

Re: Closing credit card affect on authorized user score

ah32 — Sat, 25 Apr 2015 06:47:27 GMT

I was an AU on one account recently and when it was closed, the account was removed from my report. Years ago, I was an AU on an account that was late and it wasn't removed. I had to ask them to remove. So, good question!

I've learned it's best to build my own credit than rely on others. Good luck!