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This is not true. AU accounts currently count in the AU's FICO score just as if the account belonged solely to the AU. This will no longer be the case when FICO 08 takes effect, but it still is the case as of today.
LBTRS wrote:
You can't remove yourself from an established account if the account is in your name. If you're just an 'authorized user' of the card and the account isn't in your name it will not affect you whatsoever.
@Anonymous wrote:This is not true. AU accounts currently count in the AU's FICO score just as if the account belonged solely to the AU. This will no longer be the case when FICO 08 takes effect, but it still is the case as of today.
@Anonymous wrote:
You can't remove yourself from an established account if the account is in your name. If you're just an 'authorized user' of the card and the account isn't in your name it will not affect you whatsoever.It is very easy to remove yourself as AU. Just call the CCC and tell them you would like to remove yourself as AU. They will instruct you to destroy your card and they should delete the account from your CRs within a matter of days.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
You can't remove yourself from an established account if the account is in your name. If you're just an 'authorized user' of the card and the account isn't in your name it will not affect you whatsoever.
This is not true. AU accounts currently count in the AU's FICO score just as if the account belonged solely to the AU. This will no longer be the case when FICO 08 takes effect, but it still is the case as of today.
It is very easy to remove yourself as AU. Just call the CCC and tell them you would like to remove yourself as AU. They will instruct you to destroy your card and they should delete the account from your CRs within a matter of days.
I have never provided SSN's for any authorized users on my accounts. Authorized users are not financially liable for the account so how can it be on their credit report?
But they are! The CCC's use other ways of verifying identity. I'm AU on my husband's Discover, and it's on all three of my reports. I was ever-so-briefly AU on my daughter's new BofA, until it reported on my reports, and I called up and was removed. Bless BofA's heart, it was gone the next day on EX and EQ, and two days later on TU. In neither case did they get my SSN.
Not all CCC's report AU's. I was astonished to find that I'm an AU on my daughter's Gap card, and that doesn't report, thank goodness. DH is AU on my PenFed card, because it's the family gas-and-grocs card, and it doesn't report on his.
AU's can be useful as a brief jump-start for credit, but you're at the mercy of the cardholder's payment patterns. BarbaraBeau, since your husband is occasionally late, I'd recommend getting off those things PDQ. Most credit card companies will let the AU remove themselves; a few require the actual cardholder to do so.
@BarbaraBeau wrote:
Thanks so much for all the advice. Here's my last question.....since his cards do show up on my credit report...if I remove myself, won't that hurt me too since that will take away some of my outstanding available credit?
cheddar wrote:It is very easy to remove yourself as AU. Just call the CCC and tell them you would like to remove yourself as AU. They will instruct you to destroy your card and they should delete the account from your CRs within a matter of days.