Reply
Member
Posts: 5
Registered: ‎02-26-2009
0

Removing Authroized CC

Im sitting on a middle score of 619 and looking to get that one point to fall into a better intrest rate category for a mortgage. Im an authorized on one of my mothers CC which has a 5000 limit with a 4000 balance. Will removing my name from this account push me over the top?
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Removing Authroized CC

[ Edited ]
It may or may not. It could actually drop your score. If the card is older than your avg. age of accounts, then you may want to hold off. Removing it could drop your AAoA which could really impact you. If you lack a mix of credit outside of this card (at least two other revolving and once charge card) then removing it could hurt your score.

Conversely, if the card is reporting any serious or recent lates, then removing it could help. If you have an established hisotry older than this card, then removing it could improve your AAoA and your score. And if your util outside of this card is under 80%, then removing it could help too.

DW was an AU on her folks Citi acct. It had about a 10 year history but had a balance of $6000 of $6300. Her overall utilization was around 40% outside of the card. So, I thought that if we removed it then her score would increase. Nope. It dropped. Yes, util was better, but her AAoA dropped from 5 yrs to 2 yrs and that alone tanked her scores. ETA...the ironic thing was her folks paid off the card the following month. Doooh. But they charged it up again a year later so I don't feel bad anymore.
Message Edited by llecs on 03-17-2009 09:54 PM
Member
Posts: 5
Registered: ‎02-26-2009
0

Re: Removing Authroized CC

thanks for the advice
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.