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Established Contributor
GFer
Posts: 984
Registered: ‎04-01-2008
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Should I remove myself as an AU??

I was put on a relative's cc as an AU with a limit of $1400 and a history since 2005. I was told the card wouldn't be used. I even paid the card off to get the utility down to less than 6% ($700). 
 
Within a couple of months, 'things happened' and the relative charged the card back up to around $1,100.  Would I be better off removing myself as AU than having this high utility on my reports? I have pif up until recently on my other cards with exception of 1 that I am most recently keeping below 10%.
 
 
My oldest account is 13 yrs (although closed)
I have an installment loan that is 8yrs old
Another installment that is 3yrs old
A department card that is 3yrs old
Another department card that is 2yrs old
2 new cards (low limits)
 
Any suggestions would be greatly appreciated!


1/28/14 EQ 817, (6/30/14)EX 821, TU 817 on 6/13/2014

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Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Should I remove myself as an AU??



GFer wrote:
I was put on a relative's cc as an AU with a limit of $1400 and a history since 2005. I was told the card wouldn't be used. I even paid the card off to get the utility down to less than 6% ($700). 
 
Within a couple of months, 'things happened' and the relative charged the card back up to around $1,100.  Would I be better off removing myself as AU than having this high utility on my reports? I have pif up until recently on my other cards with exception of 1 that I am most recently keeping below 10%.
 
 
My oldest account is 13 yrs (although closed)
I have an installment loan that is 8yrs old
Another installment that is 3yrs old
A department card that is 3yrs old
Another department card that is 2yrs old
2 new cards (low limits)
 
Any suggestions would be greatly appreciated!


I would remove myself if the card is younger than the average age of my accounts (often found on TU or EQ MyFICO reports). Would also remove if there is a prospensity to be late or default.
 
DW was an AU on her father's Citi. CL was $6300 but he kept the balance at $6000. Killed utilization and DW never had access to the card. He never was late, but skirted it a few times. It was also older by 5 years in comparison to DW's avg. age. So, we thought that the risk was too high and we removed it. Came off immediately. Her score dropped 10-15 points if I remember. Drop was due to the age.
Established Contributor
GFer
Posts: 984
Registered: ‎04-01-2008
0

Re: Should I remove myself as an AU??

As I said, the card is three years old and has never, ever had a late payment.!


1/28/14 EQ 817, (6/30/14)EX 821, TU 817 on 6/13/2014

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