my fico score recently went down due to high credit card balances (I made large balance transfers to get a promo rate).
3 questions:
#1 Should I take my husband off as an authorized user to take off "proportions of revolving balances to credit limit is too high" on his credit report? Will this result in him having a higher score?
#2 We used to be in the 800's but are now in low 700's? How long will it take to improve our score?
#3 We are wanting to refinance to cash out to pay off debt but lender says we do not qualify for preferred rates due to our scores. Should we refinace on my husband's credit once his gets higher (if the AU thing works to our benefit) and not on a joint account?
Thank you for any helpful information!!
