AU question

[Anonymous]

Ok, so we all know that authorized user privelages are going to end soon, but when they do how will it report. WIll it show as a closed account- and still show for up to 10 years? Or will it jsut completely be deleted from file?

[Anonymous]

I expect them to report just as they do today-

The FICO 08 formula will be able to identify these accounts and ignore them.  

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acissej323 wrote:

Ok, so we all know that authorized user privelages are going to end soon, but when they do how will it report. WIll it show as a closed account- and still show for up to 10 years? Or will it jsut completely be deleted from file?

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[Anonymous]

This thread threw me for a loop because I didn't remember posting this. Cute taste on your icon. lol.

I agree with Timothy.

[Anonymous]

But everyone should remember that EQ will be counting AU's for quite some time, as they have no plans to adopt FICO 08 for awhile. 

My guess - at least 1 year and possibly as long as 3-4.........As long as their lawsuit with MyFICO is not resolved, and we know the glacial pace that our justice system can take...........

[luvs2barre]

So will that mean that the scores of the AU's will go down? Or whatever score impact that they have received thus far will stay the same but future impact will not happen?

[Anonymous]

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@Anonymous wrote:

So will that mean that the scores of the AU's will go down? Or whatever score impact that they have received thus far will stay the same but future impact will not happen?

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I believe any FICO score benefit (or negative) the individual is getting from the AU will be ignored with FICO 08. However other scoring models and manual reviews will still pick up the AU.