Does anyone know....j

[tbone74]

I've read various bits of information online....does anyone know if FICO still factors in accounts that you may an 'authorized user' on?

Thanks in advance!

[Anonymous]

Yes you get the good and the bad as an AU

[tbone74]

With that being said...will my 'not so good' credit impact the account that I am an 'authorized user' on?

[Anonymous]

NO!   The person that is the AU gets the good and bad but it has no effect on the owner

[tbone74]

Well thank you for the info.  In addition to having everything that was in collections paid off....my credit card just paid off...and my other loans in perfect condition from day 1...I just got added as an AU on AMEX with 30K limit...only 3% being used...with a great 22yr history.  Anyone have any idea how this will impact my credit score?

[enerey]

Were your collections removed? A paid collection is just as bad as an unpaid collection.

[tbone74]

I think I'd say a paid collection is bad, but an unpaid collection is worse.  I don't have anything factual to base that on other then the change in my FICO scores after everything was paid off.  All of my collections were paid off at the same time.  After 30 days, I saw a 20 point increase...after 60 day...35 point increase.  Now, I do have to say, between 30 and 60 days, I was able to get a couple collections removed.  I'm currently working on the rest that are almost all medical....hopefully the HIPAA route will work   Grinding away!  I'm hoping that becoming an AU ... in conjunction with paying off my CC, will facilitate a FICO score increase.  ...fingers crossed...

[llecs]

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tbone74 wrote:
I think I'd say a paid collection is bad, but an unpaid collection is worse.  I don't have anything factual to base that on other then the change in my FICO scores after everything was paid off.

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Actually, per FICO scoring, the opposite is true. A paid collection can be worse than an unpaid CA. When I first joined these forums someone told me that and I thought they were nuts.

The rationale is that the mere presence of a CA is bad for your score. It doesn't matter if it is paid or unpaid, or whether you owe $0 or $10,000, the damage is equal. Unfortunately, when you pay a CA without a PFD, the DOLA and "reported date" changes to a very recent date. FICO will read this newly paid CA as a recent collection and will ding extra due to the date change.