Death of AU cardholder

[Anonymous]

I don't understaInd why you lost 27 points from a CLD when it didn't affect UT that much, though preferably you'd ideally want to be under 8.9%

So if the account closes with you remaining as an AU, nothing will change. Because losing another $500 more of a CL probably doesn't matter much at this point. If it closes and you're removed as an AU, still nothing changes the UT factor. 

What will be lost is the Age boost from those accounts, although the good news is that DP's suggest that some Lenders disregard AU accounts. So it still doesn't change too much I guess. Most likely you're the only one to see the change from having them removed.

Once they're gone it's just a guessing game on the point loss for losing the Age factor, and what existing CL the otehr card has and how it affects current UT. Like i said above though, just bring down utilization and you will be fine.

[RickNATL]

At some point, esp. when the credit file is labeled as decided, the cc will probably (no guarantee) execute closure themselves. However, I would simply call to notify and to be removed from the account. You aren't in the position to argue reestablishing the credit line, so do yourself a favor. The score will recover...

[Anonymous]

I also have no idea why Experian lost its mind over this...

I'm actually only at 10% utilization because I had to put a septic replacement on my CC for my dad's house so it could be sold. House closed last week and it's paid off now so I'll be back to my usual 2'ish percent. 

[Anonymous]

I'm a little late here. Your duty was to report which you did. As long as you don't use the card, i would just let them close it.

Also, it depends on the cards...i was on my dad's Amex and because they only apply your date of being added as the credit age, and take your social, i was able to establish a card in my name once they received notice of his death and kept my credit age. I think they ran my credit but still I was all good. One card closed (Synchrony Sam's Club) and I lost a few points but nothing major.

I'm all for the au bump but realistically think you should open your own accounts at the same time. My route to  rebuild is AU, getting my own cards that I qualify for and will want to keep and age (I wish I had done that earlier), excellent payment history, low utilization and gardening / semi gardening until lates fall off. 

[Anonymous]

I don't need the cards themselves, he added me many years ago in college to buy gas. I have my own cards now and drive electric anyway lol. I'd just hate to lose the age, but I'm also shook by losing 27 points on Experian. 

At this point, I'm waiting to see what happens. They're both still open for now.

[K-in-Boston]

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@Anonymous wrote:

I'm a little late here. Your duty was to report which you did. As long as you don't use the card, i would just let them close it.

Also, it depends on the cards...i was on my dad's Amex and because they only apply your date of being added as the credit age, and take your social, i was able to establish a card in my name once they received notice of his death and kept my credit age. I think they ran my credit but still I was all good. One card closed (Synchrony Sam's Club) and I lost a few points but nothing major.

I'm all for the au bump but realistically think you should open your own accounts at the same time. My route to  rebuild is AU, getting my own cards that I qualify for and will want to keep and age (I wish I had done that earlier), excellent payment history, low utilization and gardening / semi gardening until lates fall off. 

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For posterity, I just want to clarify that American Express no longer backdates accounts to the year that a cardholder was first added to their systems.  When logging into your American Express account and on your physical card(s) you will see a Member Since date reflecting that year (purely cosmetic), but the credit age of any American Express account that one opens or is added to as an authorized user will now always reflect the actual date of that event on credit reports.

[Anonymous]

@K-in-Boston  Thanks for that clarification because I was definitely going by the date on my card😊.  I just checked my report and it says 12/2016 which is the date I was added as an AU so it seems I made it in before they switched things up.

[K-in-Boston]

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@Anonymous wrote:

@K-in-Boston  Thanks for that clarification because I was definitely going by the date on my card😊.  I just checked my report and it says 12/2016 which is the date I was added as an AU so it seems I made it in before they switched things up.

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I believe that policy changed in 2015.  Rather than opening a new account, did they just change the existing one to you as the primary cardholder rather than an authorized user?  ("Taking over the account" and "become the new Basic Card Member" in Amex lingo.)

[Anonymous]

They changed me to the primary and removed my dad. I had to apply and be approved but it seemed pretty simple. 

[Dmessina666]

Jesus, I'm reading your comments and nobody is answering you. First, sorry about your Dad. To answer your question, if they haven't removed them and you notified them a month ago, let it take its course. Make a notation on when you called and who you spoke with if you remember. Cover yourself, and I'm sure the creditors will catch up sooner or later. Your score will too, don't worry. Again, sorry to hear.