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hmmminh
Posts: 4
Registered: ‎09-23-2008
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Decrease in Total Credit Line by 7000 also decrase in Utilization from 89% to 10%

[ Edited ]
My brother add me as an AU. The accout was opened not that long ago, a year i think. If i keep myself on his AU my utilization is at 89%. If i removed myself from the card as an AU, my utilization is at 10%. So my utilization decrease but my total credit line decrease by 7000. So what do you think i should do? Thanx
Message Edited by hmmminh on 03-24-2009 08:12 AM
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Creditaddict
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Registered: ‎10-23-2007
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Re: Decrease in Total Credit Line by 7000 also decrase in Utilization from 89% to 10%

remove yourself.
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Established Contributor
Posts: 513
Registered: ‎04-03-2007
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Re: Decrease in Total Credit Line by 7000 also decrase in Utilization from 89% to 10%


hmmminh wrote:
My brother add me as an AU. The accout was opened not that long ago, a year i think. If i keep myself on his AU my utilization is at 89%. If i removed myself from the card as an AU, my utilization is at 10%. So my utilization decrease but my total credit line decrease by 7000. So what do you think i should do? Thanx

Your brother has a maxed out (or almost maxed out) card

that has only been open for a short while.  

 

I think you should get removed from that card ASP.

 

What are the ages of your own tradelines?


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hmmminh
Posts: 4
Registered: ‎09-23-2008
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Re: Decrease in Total Credit Line by 7000 also decrase in Utilization from 89% to 10%

age? you mean how long i've had credit? i think the oldest one is 2003..
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Decrease in Total Credit Line by 7000 also decrase in Utilization from 89% to 10%

You are much better off WITHOUT the AU account if he has the card maxed.  The AU will only help if it has clean history, low utilization and is aged.

 

The fact that the AU account is ONLY 1 year old is hurting your score.  Then the fact that the card is maxed is hurting your score.  The fact that it has a balance (depending on number of accounts you have) is hurting your score.  The fact that your utilization is raised 79% is hurting your score.

 

If your own accounts are as old or older than the AU, there is no need to have it.  Remove yourself and get it off your credit.

 

AU usually is only a good idea to help establish your credit if the AU account is a clean, older, low or no balance account.

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Established Contributor
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Registered: ‎04-03-2007
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Re: Decrease in Total Credit Line by 7000 also decrease in Utilization from 89% to 10%


hmmminh wrote:
age? you mean how long i've had credit? i think the oldest one is 2003..

Your oldest account is 4 or 5 years older than the AU card. Even if the AU card had a zero balance it wouldn't be helping you much. It is lowering (not raising) your average age. 

 

Lowering utilization and increasing age or average age are generally the two main reasons AU tradelines can be beneficial. You are not being helped in either case. The other main reason that an AU may benefit is if a consumer has no other tradelines at all. Since you have other tradelines, you don't need the AU for that reason either.

 

Definitely get removed as AU from the card and dispute the tradeline off your credit report. Your score will benefit quite a bit .


Established Contributor
YoungEntrepeneur
Posts: 586
Registered: ‎03-03-2009
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Re: Decrease in Total Credit Line by 7000 also decrase in Utilization from 89% to 10%

I agree with the other members. Get rid of that account ASAP because if a lender pulls a soft inquiry to see what's on your report, they might start getting nervous and take adverse action which includes ratejack, CLD, etc. You have to be really cautious in this credit environment.

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