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Please help!Removed as authorized user from DISCOVER with high balance

deea_mary
Valued Member

Please help!Removed as authorized user from DISCOVER with high balance

Hi everyone,

 

My husband and I are working on building our credit to get a mortgage.Until recently he was an authorized user on a Discover account with an 8k limit that was maxed out ,but he got it removed.His credit score dropped 68 points!!By removing that account his credit age dropped.He currently has one revolving account ,a Merrrick account that was opened almost 2 years ago and is at 40% utilization right now,but bringing down to 10% this month.

I don't know what to next .I was sure that high balance is doing more damage on his report.

 

Any advice?

Fico Scores -March 2020 Experian 583 /Transunion 564 / Equifax 591
Message 1 of 16
15 REPLIES 15
ldkcivilservant
Frequent Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance

He needs 3 revolvers and an installment loan for maximum points.

 

Having the AU account scrubbed from the report simply means it never existed - so all the benefits it offered are now gone, including the age of the account. The drop is not real surprise in this situation.

 

He needs to investigate opening 2 more revolvers, even if they are secured. Has he tried prequals anywhere?

NFCU Platinum $50k | Amex Delta Platinum $25k | Elan Financial $19.7k | Chase Freedom Unlimited $16k | Bank Americard $16k | Discover IT $13K | NFCU Flagship Rewards $10k | GS AppleCard $5.5k | Citi Simplicity $3k
Message 2 of 16
deea_mary
Valued Member

Re: Please help!Removed as authorized user from DISCOVER with high balance

Thank you.Haven't tried to see if he can pre-qualify for anything yet.I know we are both pre-approved for Discover secured card,they keep mailing us,but did not apply because I thought it will hurt his score.

Fico Scores -March 2020 Experian 583 /Transunion 564 / Equifax 591
Message 3 of 16
OmarGB9
Community Leader
Super Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance

I think it's hurting more NOT to apply. Not saying a prequal is a guaranteed approval, but it's a good sign if the mailer has the "opt out" language and if they're offering a single APR (not a range).

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Message 4 of 16
grower1
Frequent Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance

 


@deea_mary wrote:

Thank you.Haven't tried to see if he can pre-qualify for anything yet.I know we are both pre-approved for Discover secured card,they keep mailing us,but did not apply because I thought it will hurt his score.



It could hurt his score by impacting his average age of accounts, as well as the hard pull (for the new account). Maybe someone with more experience in Mortgage scoring will come along to chime in. 




Message 5 of 16
randomguy1
Valued Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance

Get re-added as an authorized user on a card with zero or low util?

Message 6 of 16
FireMedic1
Super Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance

If he has a thin or young file. His AAoA went below 2yrs and/or is sitting at a few months. He needs to build his own profile. Post some stats like FICO scores and any past negs to see what can be done. Get the FICO scores at credit check total for $1 and cancel before the trial ends. Report back and we can go from there. Everyone has to establish their own profile eventually. Piggybacking doent always cut it.





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 7 of 16
deea_mary
Valued Member

Re: Please help!Removed as authorized user from DISCOVER with high balance

After Discover was removed his scores dropped 60-70  points, bringing everything down to  480 all across.

Merrick is at  <30% utilization and has one 30 day late payment from a year ago that I am trying to have it removed.

Deragatory marks: Sprint $325

                                  Verizon $579

Credit age 1 yr 5 mos

I am thinking not to apply for anything now.The Merrick has a payment scheduled that will bring the utilization to 5%.

I hope I could to a PFD for the two collections.

 

Thank you all

Fico Scores -March 2020 Experian 583 /Transunion 564 / Equifax 591
Message 8 of 16
silver_idle
Established Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance

Even though he was a AU, some creditors may not factor that account in when pulling the report. I know that the scoring model did change to make it strict when it comes to AU and how it counts towards the score.

For him, I would work on paying off or settling the negative accounts thats reported. If you can do a PFD and they agree, that should bring the score up higher. If they refuse to do a PFD but wish to pay them in full you could do that and then send goodwill letters to them requesting the items to be removed. You could also settle as well, though settling may not always look good but atleast it would bring the balance to $0 and it would stop getting updated and over time would not hold any effect on the score. 

Message 9 of 16
FireMedic1
Super Contributor

Re: Please help!Removed as authorized user from DISCOVER with high balance


@deea_mary wrote:

After Discover was removed his scores dropped 60-70  points, bringing everything down to  480 all across.

Merrick is at  <30% utilization and has one 30 day late payment from a year ago that I am trying to have it removed.

Deragatory marks: Sprint $325

                                  Verizon $579

Credit age 1 yr 5 mos

I am thinking not to apply for anything now.The Merrick has a payment scheduled that will bring the utilization to 5%.

I hope I could to a PFD for the two collections.

 

Thank you all


You have a better chance with Sprint. Verizon is like LVNV. You need an act of God. When you offer to pay you can always play the I want to come back game and see if they take the bait. Hint.





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 10 of 16
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