Removed 1 AU CC account and score drops by 1 pt? Also what is my file credit now?

[AzCreditGuy]

As my credit starts to age from my rebuild of 2015, I am starting to remove some AU accounts off my profile. 

I called up Chase to get myself removed from my parents card and the card only shows up for Ex and Eq. I pulled my report today for all 3 and it seems EQ is the only one that has it removed. As a result the score of 803 from 06/12/23 is now 802. Total credit balances is $178 out of $140k of credit. I should say I let 1 account balance slip through, which resulted in a balance statement on that card, I usally pay them off, so it only shows 2 cards with balances and not 3. Might be the reason why my score decreased be 1? 

I am also a little concerned with recent business pulls and getting denials with some of them doing SP on my personal credit, I am 800+ on all 3 and carry very low to no balances on my cards. I am trying to figure what is a strong credit profile? I feel I have that, but there seems to be hinderence when it comes to granting business credit based on my personal? 

[CH-7-Mission-Accomplished]

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@AzCreditGuy wrote:

As my credit starts to age from my rebuild of 2015, I am starting to remove some AU accounts off my profile. 

I called up Chase to get myself removed from my parents card and the card only shows up for Ex and Eq. I pulled my report today for all 3 and it seems EQ is the only one that has it removed. As a result the score of 803 from 06/12/23 is now 802. Total credit balances is $178 out of $140k of credit. I should say I let 1 account balance slip through, which resulted in a balance statement on that card, I usally pay them off, so it only shows 2 cards with balances and not 3. Might be the reason why my score decreased be 1? 

I am also a little concerned with recent business pulls and getting denials with some of them doing SP on my personal credit, I am 800+ on all 3 and carry very low to no balances on my cards. I am trying to figure what is a strong credit profile? I feel I have that, but there seems to be hinderence when it comes to granting business credit based on my personal? 

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You should not be having the AU removed from your account.  You should have it "terminated" so you will keep the account age and history and it will move to your closed accounts section and it will update the balance to zero regardless of what the actual balance is.

The only time you want to remove an AU account from your reports is if a new late payment pops up.  

[AzCreditGuy]

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@CH-7-Mission-Accomplished wrote:

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@AzCreditGuy wrote:

As my credit starts to age from my rebuild of 2015, I am starting to remove some AU accounts off my profile. 

I called up Chase to get myself removed from my parents card and the card only shows up for Ex and Eq. I pulled my report today for all 3 and it seems EQ is the only one that has it removed. As a result the score of 803 from 06/12/23 is now 802. Total credit balances is $178 out of $140k of credit. I should say I let 1 account balance slip through, which resulted in a balance statement on that card, I usally pay them off, so it only shows 2 cards with balances and not 3. Might be the reason why my score decreased be 1? 

I am also a little concerned with recent business pulls and getting denials with some of them doing SP on my personal credit, I am 800+ on all 3 and carry very low to no balances on my cards. I am trying to figure what is a strong credit profile? I feel I have that, but there seems to be hinderence when it comes to granting business credit based on my personal? 

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You should not be having the AU removed from your account.  You should have it "terminated" so you will keep the account age and history and it will move to your closed accounts section and it will update the balance to zero regardless of what the actual balance is.

The only time you want to remove an AU account from your reports is if a new late payment pops up.  

Hmm yeah that doesnt work, show me how someone has done that and has receieved the age benefits from the AU? The age doesnt even show on the big 3 and only show up on credit karma...

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[FireMedic1]

Its best to ask questions before you make any credit moves here first. Not after the fact. Then decisions can be made. But all this over 1 point?

[AzCreditGuy]

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@FireMedic1 wrote:

Its best to ask questions before you make any credit moves here first. Not after the fact. Then decisions can be made. But all this over 1 point?

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Know & see enough on the boards to get AU removed.....BTW I still have 1 AU that reports to EX & EQ and 1 AU that reports only to TU, its balanced out at the moment for AU cards...

Chase has been sort of removed from my EX with no score drop or issues....But I can still see the account on my report....

[FireMedic1]

I'll reinstate. You been here long enough. Ask before you make moves. Might save ya a bunch of headaches. Before it happens.

[Thomas_Thumb]

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@AzCreditGuy wrote:

As my credit starts to age from my rebuild of 2015, I am starting to remove some AU accounts off my profile. 

I called up Chase to get myself removed from my parents card and the card only shows up for Ex and Eq. I pulled my report today for all 3 and it seems EQ is the only one that has it removed. As a result the score of 803 from 06/12/23 is now 802. Total credit balances is $178 out of $140k of credit. I should say I let 1 account balance slip through, which resulted in a balance statement on that card, I usally pay them off, so it only shows 2 cards with balances and not 3. Might be the reason why my score decreased be 1? 

I am also a little concerned with recent business pulls and getting denials with some of them doing SP on my personal credit, I am 800+ on all 3 and carry very low to no balances on my cards. I am trying to figure what is a strong credit profile? I feel I have that, but there seems to be hinderence when it comes to granting business credit based on my personal? 

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Not sure what your question is specifically. A 1 point or even 5 point score change is a non event - IMO when you have a score of 800. Soft pulls do not affect score and should not be viewable by creditors.

A bunch of AU accounts may be viewed negatively during a manual review. Perhaps more so with business account applications. The question arises: why the need for these AU accounts?

[AndySoCal]

@AzCreditGuy  Minus my usual AU rant which is most likely on more than one thread in the forum. Most mortgage lenders want AU accounts off the credit report due to the distortion in the score in the older FICO score models like Experian V2.  For me the bottom line is with those score and low debit to income ratio you are going to get a very good rate and terms on any loans you may take out. Is that point going to make a difference I do not think so.

[AzCreditGuy]

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@Thomas_Thumb wrote:

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@AzCreditGuy wrote:

As my credit starts to age from my rebuild of 2015, I am starting to remove some AU accounts off my profile. 

I called up Chase to get myself removed from my parents card and the card only shows up for Ex and Eq. I pulled my report today for all 3 and it seems EQ is the only one that has it removed. As a result the score of 803 from 06/12/23 is now 802. Total credit balances is $178 out of $140k of credit. I should say I let 1 account balance slip through, which resulted in a balance statement on that card, I usally pay them off, so it only shows 2 cards with balances and not 3. Might be the reason why my score decreased be 1? 

I am also a little concerned with recent business pulls and getting denials with some of them doing SP on my personal credit, I am 800+ on all 3 and carry very low to no balances on my cards. I am trying to figure what is a strong credit profile? I feel I have that, but there seems to be hinderence when it comes to granting business credit based on my personal? 

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Not sure what your question is specifically. A 1 point or even 5 point score change is a non event - IMO when you have a score of 800. Soft pulls do not affect score and should not be viewable by creditors.

A bunch of AU accounts may be viewed negatively during a manual review. Perhaps more so with business account applications. The question arises: why the need for these AU accounts?

Agreed and one of the main reasons why I removed 1 account. I no longer need them AU accounts, and further feel a mortgage lender would state to remove all AU from my accounts from my past convo with them 

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[AzCreditGuy]

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@AndySoCal wrote:

@AzCreditGuy  Minus my usual AU rant which is most likely on more than one thread in the forum. Most mortgage lenders want AU accounts off the credit report due to the distortion in the score in the older FICO score models like Experian V2.  For me the bottom line is with those score and low debit to income ratio you are going to get a very good rate and terms on any loans you may take out. Is that point going to make a difference I do not think so.

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we posted the same thing at the same time lol....