Question regarding AU

[Anonymous]

My question is, I was an authorized user on a credit card (Sears/Cbsd) of a person who filed for bankruptcy 4 years ago. I pulled up my TU CR and noticed that under "Current Status" it reads: "unrated or bankruptcy". My question is, does this affect me in a negative way? Besides that it doesn't say anything about it being past due, infact, it being such an old account it actually looks like it's helping me in the area of "Account History".

[EW800]

I, too, would be curious about what knowledge others have on this. I have one "Unrated or Bankruptcy" showing on one very old account as well. This only shows on TransUnion. As inserted below, this is showing from 1999 and being that it was a credit card account that was purchased by another lender. I do not recall this account, however I have definitely NEVER filled for bankruptcy. My TU credit score is currently 740, so whatever it is, I guess that it is not hurting too bad, if at all.

Would you guys suggest that I not be concerned out this or should I dispute it?

Hsbc Bank

Status as of [?] Jun, 1999

Date opened [?] Not Reported

Date of last activity [?] Apr, 1999

Date paid out [?] Not Reported

Date closed [?] Apr, 1999

Account number [?] XXXXXXXXXXXX

Loan type [?] Credit Card

Credit limit [?] Not Reported

Largest past balance [?] $10,093

Terms [?] Not Reported

Account Type [?] Revolving Account

Account holder [?] Individual Account

Scheduled payment amount [?] Not Reported

Account status [?] Account is Closed

Descriptions [?]


* Purchased by another lender


Contact Information [?]

Po Box 5253

Carol Stream, IL 60197

8004776000

Balance [?] Current Status [?] Past Due Amount [?]

$0 Unrated or bankruptcy $0

Seven year payment history [?]

30 days late 0 times

60 days late 0 times

90+ days late 0 times

Worst Delinquency [?]

None Reported

Message Edited by EW800 on 06-25-2008 04:24 AM

[marty56]

I have that on 3 TU accounts also.  2 of them are old installment loans and the other is a CC that changed account #.  All are inactive for quite some time.  I also dont think thisis hurting my score.

[RobertEG]

If you are an AU on the account, then posts on the account will be posted on both.

Get the hell of this AU account asap!

[RobertEG]

AU accounts are stupid and perilous.  Get away now, and never do it again.

[RobertEG]

When you play the AU game, you are trying to piggyback on the prior good credit of another.  It may work, but you have no control over the other parties' CR, and it willl post on that account  mutually on yours.  Just dont dot it.

[Anonymous]

Don't worry.  This is much ado about nothing.

The "Unrated or Bankruptcy" status on myFICO TU reports just means "Not Reported."  It does not affect one's score one bit.

[EW800]

Thanks, Cheddar!  I think it was the fact that the statement had the word "bankruptcy" in it that got us nervous!  I am pleased that this is a non-issue.

Thanks again!

[Anonymous]

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EW800 wrote:

Thanks, Cheddar!  I think it was the fact that the statement had the word "bankruptcy" in it that got us nervous!  I am pleased that this is a non-issue.

Thanks again!

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I understand your concern.  It freaked me out a bit the first time I saw it, too.

Happy to help.