Authorize User Question

[Anonymous]

So I was recently added to my wife’s credit card accounts. Both are from comenity bank, one is a Victoria Secret and the other is New York & Company. Both of these accounts are approximately 4 years old. When I was added as a authorize user it never asked for my personal information it just took my first and last name. Both of these accounts are now reporting to the credit bureaus. The New York & Company has never been late, it is current and showing up as a positive account. The Victoria Secret account is showing up as a current account however it has a 30-59 day late payment on it few months ago. Since both of these accounts have hit my credit reports it has dropped my trans union credit score 20 points.

The Victoria secret account has a credit limit of 100 dollars with a 0 balance currently and the New York & Company has a 700 solars credit limit with a 0 balance.

Does anyone know why I would drop 20 points when these two credit accounts have gone on to my credit report.

Thanks so much for the input. I have been trying to rebuild my credit and now this happens.

[FinStar]

Given that you were added as an authorized user on your wife's CCs, and assuming the entire history of those accounts reflect on your CRs (inclusive of late payments) will definitely impact your CRs as well.

So, it's always important to consider what types of accounts one needs to be added if it helps with the build/rebuild process since any utilization factors, late payments, etc., will also have an effect on your CR file.

[Anonymous]

Lesson learn:  next time, i would make sure the entire history on a card is perfect before being added.

You could dispute it and get it remove, but the history will remain....but would be wise if you think the card will have more late payments in the future.

Do you not have your own cards?

[Anonymous]

My utilization is 105% I was trying to add positive accounts but I guess I messed up. I was told to either become a authorize user or to try secured credit cards to help with the utilization. How can I go about getting this deleted completely off my account. Should I try calling them?

[Anonymous]

You can delete the AU CC off your reports.  The card will show as "close" but with all the history stil showing.

You will need to go to each of the bureaus' dispute link.

[CH-7-Mission-Accomplished]

Actually if you dispute the AU account off your reports, you will get rid of the damage from the late payment.   It's as if the card never existed. I did this with my ex.   If you simply contact the credit card company and have yourself removed as an authorized user, they will update the account to read "terminated," but the account remains.   So it is best to have your wife call and remove you as an authorized user and then dispute the heck out of the account until the CRA's remove it completely.   They will remove it at least they did for me on three accounts.   You do have to raise a big stink but it's worth it.