Authorized User

[Anonymous]

I am currently an authorized user on a family members store credit card with 22 years of on time payment history.  Unfortunately, the card is over 90% utilized of credit limit and I do not have enough available balance to counteract this with my own cards.  Both of the cards in my name are under 2 years history (all on time).  I am beginning to wonder if the card I am an AU on is hurting or helping me at this point.  Should I dispute and have it removed?  Currently working through 5 collections accounts and 3 public records so I am trying to grab as much of an increase whenever possible while I take care of everything else.

[Anonymous]

Just to add to this I wanted to simplify things and get everyones opinion.  Would you trade 8 years of AAoA with 90% utilization with 2 years AAoa with 18% utilization? 

[MrsCHX]

Those derogs are hurting  you WAY more than this utilization IMO.

[Anonymous]

Yes I agree- working through each of these items 1 at a time.  I am working with creditors on the derogatory marks, but this is something that is an instant fix.  Realizing that it will be down the road before I really see an increase, I am leaning towards removing myself from the card and by the time I have everything else cleared up my AAoA will be approaching a more manageable number. 

[gdale6]

Utilization of revolving credit counts for 35% of Fico score, AAoA is 15%. Any account over 90% utilization also has an additional Fico score hit, see if the person can get the util down to 89% or below and you will recover some points. At this point I dont see removing yourself just keep working on getting your derogs handled and once you have a clean report then you can re visit the issue. Welcome to myFico