Mortgage scoring models and AU accounts

[HooahDOC]

I know FICO 8 ignores AU accounts, but what do the mortgage scoring models do with them? I'm asking because I'm an AU on a couple of my wife's credit cards. They have a really long history of perfect payments but high utilization (60% or more?) I'm wondering if removing myself would hurt or help my score. Any suggestions/insight?

Also, my TU score just dropped 13 points. The only change was that my, "most recent missed payment" is now 2 months ago. The problem is that I haven't missed a payment on anything in over a year, and looking through the actual report I cannot find what the heck it's referring to. ???

Edited January 15, 2016 by HooahDOC

[shifter]

08 does not ignore all AU accounts.

 

Spousal accounts especially are still counted.

 

They just ignore accounts without the same name or address which indicates rental AUs.

 

High util AU isn't helping. You need to remove yourself.

[HooahDOC]

08 does not ignore all AU accounts.

 

Spousal accounts especially are still counted.

 

They just ignore accounts without the same name or address which indicates rental AUs.

 

High util AU isn't helping. You need to remove yourself.

 

08 does ignore AU accounts. It's not included in the overall balances and utilization on myfico.com. Also, myFICO clearly states 08 doesn't count them.

 

So, if I remove myself as an AU do I risk my scores dropping due to a change in AAOA and payment history?

[C316]

 

08 does not ignore all AU accounts.

 

Spousal accounts especially are still counted.

 

They just ignore accounts without the same name or address which indicates rental AUs.

 

High util AU isn't helping. You need to remove yourself.

 

08 does ignore AU accounts. It's not included in the overall balances and utilization on myfico.com. Also, myFICO clearly states 08 doesn't count them.

 

So, if I remove myself as an AU do I risk my scores dropping due to a change in AAOA and payment history?

 

08 does NOT ignore AU. Shifter is 100% correct.

 

If myFICO says that, it is old false information.

 

 

ETA, below is stright from myFICO site.

 

 

Authorized user of credit card

All FICO^® Score versions include authorized user credit card accounts when calculating a score. This can help people benefit from their shared management of a credit card account. It also helps lenders by providing scores that are based on a full snapshot of the consumer's credit history.

To protect lenders and honest consumers, FICO^® Score 8 substantially reduces any benefit of so-called tradeline renting. That's a credit repair practice that entices consumers into being added to a stranger's credit account in order to misrepresent their credit risk to lenders.

Edited January 15, 2016 by C316

[HooahDOC]

 

 

08 does not ignore all AU accounts.

 

Spousal accounts especially are still counted.

 

They just ignore accounts without the same name or address which indicates rental AUs.

 

High util AU isn't helping. You need to remove yourself.

 

08 does ignore AU accounts. It's not included in the overall balances and utilization on myfico.com. Also, myFICO clearly states 08 doesn't count them.

 

So, if I remove myself as an AU do I risk my scores dropping due to a change in AAOA and payment history?

 

08 does NOT ignore AU. Shifter is 100% correct.

 

If myFICO says that, it is old false information.

 

 

ETA, below is stright from myFICO site.

 

 

Authorized user of credit card

All FICO^® Score versions include authorized user credit card accounts when calculating a score. This can help people benefit from their shared management of a credit card account. It also helps lenders by providing scores that are based on a full snapshot of the consumer's credit history.

To protect lenders and honest consumers, FICO^® Score 8 substantially reduces any benefit of so-called tradeline renting. That's a credit repair practice that entices consumers into being added to a stranger's credit account in order to misrepresent their credit risk to lenders.

 

 

Yeah, I just read that. But, looking at the utilization and balances myfico reports, the AU accounts are being clearly excluded. So do AU accounts actually contribute to utilization and the overall score? Because according to what I calculate on myfico they don't.

 

I guess if I get removed from the wife's accounts and my scores drop, I can just have her add me back and they should return to what they were?

[C316]

Don't rely on report information from aggregate site's like myFICO, CCT etc. their summaries are often wrong when it comes to listing utilization, AAOA total credit lines when dealing with AU accounts. The scores will take the AU's into account based on your actual credit report, so the scores are correct. The summaries that we see are often wrong in that they don't include it. My wife is an AU on a few of mine and that is the case.

[FixnCred]

I just added my GF as an AU on a JCP card. It posted today and she went from 715 to 720. The card is 5 years old and has a $6K limit. It boosted her available credit and lowered her UTL. Her AAOA went up by 2 months. So I can definitely say that AU accounts are definitely factored. We also live at the same address.

 

One other point is I also added her to two brand new cards and those lowered her AAOA which is why I added her to JCP to help offset that.

[andersons]

I have a FICO score even though my ONLY tradeline is an AMEX AU account. My last name is different from my spouse's, but address is (of course) the same.

[HooahDOC]

I think the problem is that myFICO doesn't include AU accounts in anything other than the score it reports.

It's all a very frustrating game. Cleaning up something I figure would make a huge improvement barely budges the score, while some random minor thing drops it 10 points. Maybe we should all just live our lives and not obsess so much over a number.

[FixnCred]

You have to keep in mind that MF updates are behind by 24 to 48 hrs for EX, 36 to 72 for EQ, and 5-7 days for TU. The score changes you see aren't always based on what you see MF says dropped or raised your score. It was more than likely a combination of items that changed your score.

 

The most accurate way to monitor your FICO score is via EX direct or CCT which gives you near real time of EX as changes happen. EQ complete is also near real time but not as fast as EX.

 

MF is only good for getting your true FICO8 and other versions of your FICO.

 

You shouldn't really subscribe to MF unless you have specific goals for a mortgage and you want your other FICO scores for a mortgage or auto loan to be updated quarterly.

 

I suggest you take a look at EX direct or CCT. You will get a much more holistic view of each change in FICO score and what drove that change.

[HooahDOC]

What is CCT?

[TampaDude]

DW is an AU on my old Citi card, and it definitely counts toward her util.

[TampaDude]

CCT = Credit Check Total

 

www.creditchecktotal.com

Edited January 28, 2016 by TampaDude

[mec]

CCT = Credit Check Total

 

www.creditchecktotal.com

And if you order the 1 dollar trial and call back in a few days and say you are trying to budget and ask for a discount, they will bill you 14.97/ month for the service.

[mec]

When are you applying for a mortgage?