Authorized user account and my mistake in the past

Anonymous · ‎03-14-2019

I was added to my parents CC for Discover, Chase and Wells Fargo about 4 years ago, at the time I didn’t realize because they had large balances it was hurting my credit score and I was going to apply for my own credit card at the time, so I requested to taken off these cards. Experian and Transunion seem to be the ones that don’t budge when it comes to these requests or they make you jump hoops to do this, anyways long story short had a CFPB complaint and legal shield letters sent out to them.

Well now that my parents cards are lower balanced. I added myself back on as an authorized user for Discover, Discover themselves have verified that they are sending information to the 4 major credit bureaus

Experian

Equifax

Transunion

Innovis

Equifax is showing this card and history of 7 years

Experian and Transunion are not and both have stated they would need to receive a letter from Discover Card that I would need to be added back as an authorized user for my parent’s card? Has anyone had this issue?

CreditInspired · ‎03-15-2019

I haven’t heard of anyone doing this before. So are you going to go back-and-forth on this? When their UT is high, get removed and when it is low, be re-added? IMHO, I don’t think this is a good idea but it’s just my 2cents.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K

Anonymous · ‎03-15-2019

Hello Fender. We can advise you better if you let us know a few things:

(1) Were you successful at getting all your past AU accounts removed from your reports? You describe EX and TU as refusing to budge.

(2) What is the age of your oldest open card? (Not counting AU accounts.)

(3) If you have an older account than the one mentioned in #2, what is that account? Is it closed or open? And what is its age?

I agree with the other commenter that you should take more time thinking through this decision before pushing ahead with the decision to get re-added as an AU. The AU score-boosting strategy can make sense, but only if the card to which you are being added is...

(a) Much older than your oldest account (e.g. your oldest account is 2 years old, the AU account 18 years old).

(b) Clean (no lates for the last 7 years)

(c) Easy to keep at an extremely low balance every month (< 8%) with a zero balance being preferable.

If one or more of those three criteria are not true, the AU strategy doesn't make sense.

Anonymous · ‎03-15-2019

@CreditInspired wrote:
I haven’t heard of anyone doing this before. So are you going to go back-and-forth on this? When their UT is high, get removed and when it is low, be re-added? IMHO, I don’t think this is a good idea but it’s just my 2cents.

No I am doing this as I even know better I just wanted myself removed when the high limits were hurting my scores

Anonymous · ‎03-15-2019

@Anonymous wrote:
Hello Fender. We can advise you better if you let us know a few things:

(1) Were you successful at getting all your past AU accounts removed from your reports? You describe EX and TU as refusing to budge.

(2) What is the age of your oldest open card? (Not counting AU accounts.)

(3) If you have an older account than the one mentioned in #2, what is that account? Is it closed or open? And what is its age?

I agree with the other commenter that you should take more time thinking through this decision before pushing ahead with the decision to get re-added as an AU. The AU score-boosting strategy can make sense, but only if the card to which you are being added is...

(a) Much older than your oldest account (e.g. your oldest account is 2 years old, the AU account 18 years old).

(b) Clean (no lates for the last 7 years)

(c) Easy to keep at an extremely low balance every month (< 8%) with a zero balance being preferable.

If one or more of those three criteria are not true, the AU strategy doesn't make sense.

1. Yes after legal sheild and a complaint to CFPB they removed Chase, Discover and Wellsfaro from AU status on my credit profile

(2) 4 years 2 months

(3) Just 1 credit card and its open for 4 years 2 months Cap 1 Venture One CL $4,500

I agree with the other commenter that you should take more time thinking through this decision before pushing ahead with the decision to get re-added as an AU. The AU score-boosting strategy can make sense, but only if the card to which you are being added is... (Yes it is, as the CL is $9,800 and the balance is $659 which I charged and I am paying, my parents no longer use this card as I do. )

(a) AU account is 11 years old

(b) Clean and no lates ever No issues, perfect card for credit history

(c) Current ratio is .06% and I keep it below 10% since I am the only one using it

Hence why I want the Discover card back on my profile as a AU

DollyLama · ‎03-15-2019

I could understand if you were starting out, to begin your credit.

I don't understand the reasoning now, if you did obtain credit over 4 years in your own name, why not have just applied for your own personal Discover?

Is it strictly only for bumping the age up? I see no other reason. There very will may be a time when you want a mortgage, or something that requires underwriting that possibly they request you to be removed from any AU accounts.

Perhaps with the other two bureaus, since a previous CFPB complaint was filed against them to remove you from said account, want to be dang sure it will not happen again, or it is being done under some pretenses.

MakingProgress · ‎03-15-2019

@Anonymous wrote:
I added myself back on as an authorized user for Discover, Discover themselves have verified that they are sending information to the 4 major credit bureaus

I just want to verify that your Parents added you back as an AU at your request. You should not have been able to add yourself back as an AU.

FICO 8 Starting Score

Current Scores

Garden Goal is All Reports Clean – Achieved 11/26/20

Anonymous · ‎03-15-2019

@DollyLama wrote:

Is it strictly only for bumping the age up? I see no other reason. There very will may be a time when you want a mortgage, or something that requires underwriting that possibly they request you to be removed from any AU accounts.

I am actually getting a mortage with the next year or less and my mortgage business partner actually recommended I be put on a AU account

Anonymous · ‎03-15-2019

@MakingProgress wrote:
@Anonymous wrote:
I added myself back on as an authorized user for Discover, Discover themselves have verified that they are sending information to the 4 major credit bureaus
I just want to verify that your Parents added you back as an AU at your request. You should not have been able to add yourself back as an AU.

Of course after I asked them too

Anonymous · ‎03-17-2019

Just a heads up. It's not uncommon for lenders to ask that AU accounts be removed when applying for a mortgage. Personally I would skip the AU account.