i need help - being authorized user is hurting my credit!

[ktsweets]

so long story short, I was an authorized user on one of my husbands credit cards.  it had a high balance, which wasn't hurting my husband's credit, because he has a lot of credit available & his debt usage is only at like 15%.  HOWEVER, i only have 1 other card w/ lower limit, so being an authorized user on a high balance card was really hurting my credit.

So, I had him remove me as an authorized user in January.  I thought that problem would be solved.  Then in the meantime, we SIGNIFICANTLY paid down that creidt card, so i figured even if it still reported for a few months, it would still help my credit.

Then today, to find out in horror when i pulled my credit, that it's still reporting as an open trade for me and AT THE SAME BALANCE IT WAS IN JANUARY!  It shows no activity for the last 4 months, doesn't reflect the balance being paid down,  but still shows open at the balance from 4 months ago!.   Now i don't know what to do to rectify this problem.   Would the credit card company being willing to just remove trade from my credit alltogether?  Can't they show as closed somehow?  Or, would my best bet be to have them add me back as authorized user at the lower balance?

On a side note - I pay all bills on time, have at least 9 years good credit history, and cannot believe how this one card brought my score down almost 70 points!!  

[ktsweets]

I guess my main question is:  If someone is REMOVED as an authorized user, is the credit card company supposed to report that trade as closed?   Or will it show as Open indefinately, at the last balance reported, for the rest of your life?

[Link2k]

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@ktsweets wrote:

I guess my main question is:  If someone is REMOVED as an authorized user, is the credit card company supposed to report that trade as closed?   Or will it show as Open indefinately, at the last balance reported, for the rest of your life?

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It's supposed to be removed, but its also supposed to b updated when you pay it. The issue isn't the card reporting its that they haven't updated anything in 4 months.

[ILBrian]

Dispute either for balance update if you want to keep it, or if you want to delete it that the trade isn't yours will be gone within 30 days

[ktsweets]

thanks everyone for your help!  In looking at my report further, i realized that the reason my score dropped so drastically was due to a collection from a company i've never even heard of and never used the services of!  Lingo Inc is the name.  I just got off the phone with them and even though they can't find me anywhere in the database, I need to send them a formal letter with a credit report showing the collection, to get them to "research & resolve" this issue!  I'm beyond frustrated this could happen... I guess it's good that I checked my credit report, but this kind of ruins my plans to get a mortgage/purchase a house until this can be resolved

[ktsweets]

i guess i have another question - should i dispute this with the credit bureau's?  Would the collection agency actually have to prove that I had an account (which I didn't), or can they just say "yeah it's hers" and it stays on?  I'll still send the company a letter in the meantime, but i'm guessing they can take their sweet time to correct this, and i want this off my credit immediately. 

[ILBrian]

you can go ahead and dispute saying the debt owed is not yours the CR will contact them to confirm the debt is yours... if like you said you called and they couldn't confirm then it would be deleted... I would fax it to the collection agency as well as dispute

[ktsweets]

thanks ILBrian.  I guess it wouldn't hurt to do both - dispute w/ CB and with the creditor/collection agency.  I think it's crazy that something like this could affect my score this much.   One thing I can say for sure is that it is a very good thing to check your credit report, because you never know if your credit is being hurt by incorrect information!  thanks again everyone!