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UTI from AU card is keeping score down

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Anonymous
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UTI from AU card is keeping score down

I have been working on rebuilding my hubby's credit as well as my own since February. We are making good progress, but I am concerned that my husband's utilization is keeping his score down. Long story short, he is an AU on his son's Home Depot card. We had remodeled our kids' house (free labor) and my hubby was added as an AU on their card so he could pick up materials for the kids. Anyway, I forgot about the whole Home Depot card until the other day I realized that the kids' high usage could be bringing my husband's score down. I asked our lender (we are trying to refi our house) if my husband should get of the kids' card . He said it was a catch 22. The card is 2 years old with on time payments, but it has a high balance. The lender said that my hubby's score might go up by getting off the card because it would bring the UTI down OR his score might drop because of losing the "aged" credit. I feel like it is a gamble.  Is it possible to be taken off the card, see what happens and then be put back on  if the score drops? Any advice is greatly appreciated.

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rckstrscott
Valued Contributor

Re: UTI from AU card is keeping score down


@Anonymous wrote:

I have been working on rebuilding my hubby's credit as well as my own since February. We are making good progress, but I am concerned that my husband's utilization is keeping his score down. Long story short, he is an AU on his son's Home Depot card. We had remodeled our kids' house (free labor) and my hubby was added as an AU on their card so he could pick up materials for the kids. Anyway, I forgot about the whole Home Depot card until the other day I realized that the kids' high usage could be bringing my husband's score down. I asked our lender (we are trying to refi our house) if my husband should get of the kids' card . He said it was a catch 22. The card is 2 years old with on time payments, but it has a high balance. The lender said that my hubby's score might go up by getting off the card because it would bring the UTI down OR his score might drop because of losing the "aged" credit. I feel like it is a gamble.  Is it possible to be taken off the card, see what happens and then be put back on  if the score drops? Any advice is greatly appreciated.


You can simply dispute the account with the CRAs as not mine, because technically, it isn't..

 

It will be really hard to be readded in reporting once you remove; but if the UTIl is high, then I would remove.. plus, I am an advocate of removing all AU cards as soon as your score is decent enough to support itself..

 

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
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Shogun
Moderator Emeritus

Re: UTI from AU card is keeping score down

+1  You're pretty much at the mercy of the owner of the AU account.  You can't control their actions, you just kind of hope they do good by it.  Better to get rid of them when you can and rely on your own credit.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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