cancel
Showing results for 
Search instead for 
Did you mean: 

Authorized User Dilemma

Regular Contributor

Authorized User Dilemma

Hello all, my first post after lurking around for awhile now. 

 

Trying to figure out a bit of a pickle:

 

I'm in the process of rebuilding my less than stellar credit, and aside from massive amount of student loans, I have the following revolving accounts:

 - AMEX 6800/7500 (auth.user)

 - BoA 3700/4300 (auth.user)

 - Cap1 500/2500

 - Orchard 900/1000

 - CreditOne 0/500

 - GE (CareCredit) 0/500

 - GE (Carecredit) 0/500 (auth. user)

 

Nothing terrible in my reports, except my Chase credit card which i let go 30 days late back in 2006ish, and back then I decided to close the account in order to go on a lower interest rate payment plan. Good news is that closed account, which started at 3000 balance, has been paid in full as of last month. Woohoo.

But of course, since its not an actual revolving balance, I'm not getting much "credit" for it (pun intended). Sigh..

 

So my question is involving those two accounts being listed in my credit reports as authorized users (AMEX and BoA):

As you can see, they not only have a very high utilization rate, but also the highest credit limits.

I'd like to get those removed (get myself removed as auth. users, call those two companies, then later dispute with CRAs if needed, etc), but those accounts are also my oldest, by a large amount.

 

With those two accounts knocked off, my AAoA will just plummet straight down. I think one of those accounts have been reporting since 1991 (O_O).

 

Anyways, I'm about 90% sure it would definitely be better to sacrifice AAoA for the drop in utilization%..

Do you guys agree?

1 REPLY
Highlighted
Epic Contributor

Re: Authorized User Dilemma

I agree.  You will take a definite hit in AAoA but those cards are near or at the maxed out point.  Not only are they individually dinged for that, your utilization is high.  Right now with those cards you are at 71%.

 

Get those removed and you would be at 34%.  Still high but much better.  Get that Orchard card paid to at least $450 and your utilization will be 23%.  Then you can work on getting it down to 9% or lower.