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?
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.