Authorized User?

For just about anything you want to get off your chest about credit cards.
13 posts
Iroquois
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Location: Chicago

credit score impact

Postby Iroquois » Tue Sep 13, 2011 7:57 am

Most likely, you as an AU already have the full account activity reported on your bureau. Best to see for sure.

If is already being reported then the questions come up as to what to do next. Considerations include coming off the account (as an AU you were never liable) which may actually worsen your credit score. Its the same as closing an account and your reported available credit drops or average age of lines outstanding change. However if the account owner has a lower cerdit score or is in risk of having credit issues that could tarnish you, then it may make sense to have your name removed.

Whatever you do, the history of the account remains, unless you were added fraudulently, as I understand the processes


AceH
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Postby AceH » Sun Sep 18, 2011 7:42 pm

I received the following response from Equifax:

"We appreciate the opportunity to resolve this matter on your behalf.

Being added as an authorized user to a credit card will not impact your credit score. If the account becomes negative, the information will appear on your credit file, but it will not impact your score. If you have any other questions or concerns, please contact our Customer Care Department at the number below.

Thank you for contacting Equifax,

Equifax Customer Care
Equifax Personal Information Solutions"

Iroquois
Platinum Member
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Posts: 99
Joined: Thu Oct 28, 2010 1:17 pm
Location: Chicago

Who uses the data and what do they do with it

Postby Iroquois » Mon Sep 19, 2011 6:58 am

Keep in mind that a consideration in your question may not only be what the bureaus do with with the information but what the user of the info, the organization that extends credit does. The bureau reports the information. Many card lenders buy attributes and data from the bureaus and then compute their own scores to try and establish competitive advantages or meet unique needs. As long as the data is there to be crunched, then it can be used and in a number of cases is.

I heard a story about six months ago of an account review by Chase where they called a card holder and specifically went through data on the individuals bureau including the AU material which they had and were clearly looking at.



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