Do Closed Accounts Continue To Report on AU's Credit Report

[Aahz]

I've been scouring the web for three hours trying to find an answer to this question, but my Google-Freedom Unlimited must be particularly weak tonight because I haven't even been able to find anywhere the question was asked, much less answered.

 

Since I managed to wander through life without any credit until my late 20s, and then proceeded to screw it up royally, only finally getting to a decent report now that I'm in my mid-40s I've vowed to do everything I can to set my daughter on the right path. Obviously, education has been the primary component of that assistance, but I also added her as an AU to my CapOne card (best I had at the time) two years ago. Now that my credit is solid I've opened a Joint BofA card with her as well, which sets her up pretty well (how many 18 year olds do you know with a non-AU $9000 MC?). This gives her an AAOA today of two years (my CapOne is four years old).

 

But the CapOne no longer serves any purpose for me, and they can't/refuse to waive or remove the AF so I'm looking to close it. But I don't want to hurt DD's AAOA, and it's worth $36 a year to keep that there until she's comfortable opening her own individual lines of credit.

 

So, if I close the CapOne account while she's still listed as an AU will the card and its history continue on her recordfor seven years just as it will on mine? Or will it poof "overnight" dropping her to a zero month AAOA?

 

 

 

 

[mrjuggalo9er]

it should continue to report, if it were negative she could dispute it off....

[FromGoodtoGreat]

Contact the EO and they will waive that AF and while you have them ask for a CLI too.

 

 

Sent from my iPhone using Tapatalk

[mindcrime]

 

 

So, if I close the CapOne account while she's still listed as an AU will the card and its history continue on her recordfor seven years just as it will on mine?

 

 

 

 

 

Positive history remains for 10 years.

 

I'm an AU on a C1 backed store card that is closed, and it continues to report.

[Aahz]

Contact the EO and they will waive that AF and while you have them ask for a CLI too.

 

 

Been there, done that, didn't get a t-shirt

 

 

 

 

So, if I close the CapOne account while she's still listed as an AU will the card and its history continue on her recordfor seven years just as it will on mine?

 

 

 

 

 

 

I'm an AU on a C1 backed store card that is closed, and it continues to report.

 

 

Thanks! Personal experience is just what I needed to to ease my mind.

[MistralsDaughter]

Thanks!

 

Good info to know.

[AHGoodwin]

I can also attest to this. Hubby was an AU on mothers cap1 that was reported stolen in 05. It is still on his report.

[takeshi]

So, if I close the CapOne account while she's still listed as an AU will the card and its history continue on her recordfor seven years just as it will on mine? Or will it poof "overnight" dropping her to a zero month AAOA?

It will continue to report but even so it's not factored into some scoring models or considered by some creditors.

 

I've vowed to do everything I can to set my daughter on the right path.

Get her MSD established with AmEx.

Edited January 6, 2015 by takeshi

[JeffeVerde]

 

It will continue to report but even so it's not factored into some scoring models or considered by some creditors.

 

 

 

One of the stated improvements of the FICO 08 model, released earlier this year, is the exclusion of AU accounts in scoring, to avoid "AU abuse". Supposedly, they've since adjusted the filtering so as to not, for example, exclude the AU account of a spouse. Six months ago, my only active accounts were 3 AU's from my father. When FICO 08 came out, I saw a 70 point drop in my FICO 08 scores vs my FICO 04's, because of the AU exclusion.

 

If you really want to boost her future AAOA, get an AmEx today and add her as an AU. In the future, when she gets her own AmEx's, each AmEx she gets will be backdated to the date of her initial AU membership.