Should I close account?

[TDS1120]

About 2 years ago I added someone as an AU to one of my accounts.  It was merely to help with building their credit and they didn't have a physical card.  We had an unrelated disagreement and I removed them.  The bank has confirmed on numerous occasions that they are removed, but it is still being reported to their credit file.  I know this because the individual has made comments about my CLI and a large increase in a balance that could have affected their home purchase.  The credit bureaus won't do anything at my request and have told me that the AU will have to dispute the account which they won't do because it is benefiting them.  My back is against the wall and I just want to disconnect myself from them completely and I feel like closing the account is my only option.  I have a balance that I was think I could transfer to one of my other accounts with a 0% offer right now.  I rarely use the card, but it is my oldest card.  Do you think it would have a huge impact if close it based on the following:

Total Credit Limit: $57000

Total Balance as of Today: $2166

CL on said card: $5200

Bal on said card as of today: $719

FICO 8

EX: 828

EQ:  823

TU: 822

[MileHigh96]

That's bizarre, I've never had that issue. Whenever I have had someone as an AU on any card I've ever had, when I removed them, it stopped reporting on their CR the next time the CR updated. Something seems kinda off there.

As far as closing the account, even closed accounts still stay on your CR for (I believe) up to 10 years, so it shouldn't affect your AAoA or anything like that. If you feel like the only thing you can do is close it, you should be good to go without any real issue.

EDIT:  The only issue I could see is that your credit utilization could go up by eliminating that card because you would be losing $5200 off your total credit limit.  But I think that would only be a short term hit?  Others here would probably know more about that.

[TDS1120]

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@MileHigh96 wrote:

That's bizarre, I've never had that issue. Whenever I have had someone as an AU on any card I've ever had, when I removed them, it stopped reporting on their CR the next time the CR updated. Something seems kinda off there.

As far as closing the account, even closed accounts still stay on your CR for (I believe) up to 10 years, so it shouldn't affect your AAoA or anything like that. If you feel like the only thing you can do is close it, you should be good to go without any real issue.

EDIT:  The only issue I could see is that your credit utilization could go up by eliminating that card because you would be losing $5200 off your total credit limit.  But I think that would only be a short term hit?  Others here would probably know more about that.

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Thank you.  It is very bizarre!  I've filed disputes, a complaint with CFPB and made countless phone calls to the bank and CBs to no avail.  I've definitely learned my lesson.

[SouthJamaica]

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@TDS1120 wrote:

About 2 years ago I added someone as an AU to one of my accounts.  It was merely to help with building their credit and they didn't have a physical card.  We had an unrelated disagreement and I removed them.  The bank has confirmed on numerous occasions that they are removed, but it is still being reported to their credit file.  I know this because the individual has made comments about my CLI and a large increase in a balance that could have affected their home purchase.  The credit bureaus won't do anything at my request and have told me that the AU will have to dispute the account which they won't do because it is benefiting them.  My back is against the wall and I just want to disconnect myself from them completely and I feel like closing the account is my only option.  I have a balance that I was think I could transfer to one of my other accounts with a 0% offer right now.  I rarely use the card, but it is my oldest card.  Do you think it would have a huge impact if close it based on the following:

Total Credit Limit: $57000

Total Balance as of Today: $2166

CL on said card: $5200

Bal on said card as of today: $719

FICO 8

EX: 828

EQ:  823

TU: 822

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I don't think it will hurt you to close it.  It will still be factored in as oldest account, and in your average age of accounts, so long as it appears in your reports, which will probably be for many years.

[Anonymous]

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@SouthJamaica wrote:

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I don't think it will hurt you to close it.  It will still be factored in as oldest account, and in your average age of accounts, so long as it appears in your reports, which will probably be for many years.

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Yes, but until the source of the problem can be identified and fixed, precisely for this reason, it's likely that the card will continue to appear in the AUs reports as well, so nothing has been gained!

[simplynoir]

Why doesn't your friend just dispute the AU account with the bureaus themselves so it can be removed from their reports? All they have to do is give the reason of "not financially responsible/not primary of the account"  or something similar as the reason and the bureaus will remove the account off their records

[Anonymous]

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@simplynoir wrote:

Why doesn't your friend just dispute the AU account with the bureaus themselves so it can be removed from their reports? All they have to do is give the reason of "not financially responsible/not primary of the account"  or something similar as the reason and the bureaus will remove the account off their records

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As OP says in first post:

and have told me that the AU will have to dispute the account which they won't do because it is benefiting them

[TDS1120]

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@simplynoir wrote:

Why doesn't your friend just dispute the AU account with the bureaus themselves so it can be removed from their reports? All they have to do is give the reason of "not financially responsible/not primary of the account"  or something similar as the reason and the bureaus will remove the account off their records

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They have little to no credit history so they are benefiting from having it continue to report.  

[simplynoir]

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@Anonymous wrote:

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@simplynoir wrote:

Why doesn't your friend just dispute the AU account with the bureaus themselves so it can be removed from their reports? All they have to do is give the reason of "not financially responsible/not primary of the account"  or something similar as the reason and the bureaus will remove the account off their records

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As OP says in first post:

and have told me that the AU will have to dispute the account which they won't do because it is benefiting them

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I missed that reading the post. Shows what kind of reader I am 🤦‍♂️

[MileHigh96]

Do you know if the account is showing up on all 3 of his CR's or is it only on 1 or 2 of them? This whole thing just isn't right. Depending on what CRA's are still reporting this trade line even though he is not an AU any longer, I would escalate this with each bureau. It seems borderline fraudulent that it's still being reported on his CR's even though he is not on the account any longer.