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AU Impact On Credit Score

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Anonymous
Not applicable

AU Impact On Credit Score

My Wife curretnly has:

 

In her name: Mauices (Store Card) and Lane Bryant (Store Card)

 

Joint Account: Credit Union Visa (Joint account with her and I)

 

Authorized User: Capital One Venture - My personal account

 

All other credit cards are in my name only

 

Question: What kind of impact would it have on her credit if I "shut down" her AU card through Capital One and "add" her as an AU to our new Citi Costco Visa Card?

 

There are several reasons for shutting down the AU on Capital One.  I can explain if needed.

Message 1 of 4
3 REPLIES 3
takeshi74
Senior Contributor

Re: AU Impact On Credit Score

Depends on whether or not the scoring model considers the TL.  If it is considered then it will be considered basically like any other account.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

 We can't tell you the impact in terms of points.  It's not just about the account itself but her credit profile and how the changes factor in.

Message 2 of 4
RonM21
Valued Contributor

Re: AU Impact On Credit Score

Also depends on what the status of the Cap 1 card was, as far as AAoA, utilization, credit limit etc. How this weighs vs the new card would be where the difference would be.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 3 of 4
Anonymous
Not applicable

Re: AU Impact On Credit Score

 


@Anonymous wrote:

My Wife curretnly has:

 

In her name: Mauices (Store Card) and Lane Bryant (Store Card)

 

Joint Account: Credit Union Visa (Joint account with her and I)

 

Authorized User: Capital One Venture - My personal account

 

All other credit cards are in my name only

 

Question: What kind of impact would it have on her credit if I "shut down" her AU card through Capital One and "add" her as an AU to our new Citi Costco Visa Card?

 

There are several reasons for shutting down the AU on Capital One.  I can explain if needed.


If the Cap One account is in good standing: The tradline will change to closed and continue to age AAoA for the next ten years.

 

If the Cap One account has deliquencies: The derogatory tradline will report as closed and effect her credit negetively. In which case you will need to write letters to the CRAs attemping to remove account.

 

Adding the Citi Costco account: If your able to add the account, and if the tradeline appears on her CR. It will shorten her AAoA causing a little point reduction. Probably register as a new account, as you indicate the card is "new", so there will be a little point reduction there as well. 

 

It really depends what her credit profile condition is currently as to whether and how much it will effect her credit rating.

Message 4 of 4
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