@Anonymous wrote:
@DollyLama wrote:
@Anonymous wrote:
I was added to my hubby's Cap1 cc because it was the 1st cc with the highest amount, $2,500 just out of BK 7. SO my question is this, he has a $1,114.00 on the card and I have a card that has a high balance too. Will it hurt the rebuild and scores if I remove myself as an AU on his card in order to help my utilization go down? My oldest account is 11.3 yrs and AAoA is 3.5 yrs.
Id I do remove myself as an AU will it still show has a high balance on my credit report or will it not show anything?? Thanks
The AU card is almost 50% utilization, however you mention you have one with a high balance also. Just how much balance/CL is your card? If it is 50 percent or higher, it will not really help your utilization to go down. Also is this card you are a AU one the oldest account of 11.3 years? If so, you will lose the AAoA if it is your oldest open account. If it is an account that is closed, it depends on how long ago it was closed before it ages off your reports, and you pick the next oldest account open or closed to decide if it will adversely affect the length of credit history. When was the last time you received any credit line increases on your cards? If they are due you could possibly inquire about a SOFT pull to review for a higher credit limit that will reduce your utilization.
One card has a $2,500 cl and I owe $1,520 on it now but thinking of doing a bal transfer. The card that I am an AU on was opened 9/1/2015 and I am not sure how to tell what accounts are part of the 11.3 yrs?? I have a new card of $1500 cl that has not hit my report yet so I am assuming that will help with utilization if I don't use it?? I have an account with Penfed an was thinking of apping a cc with them for a balance transfer and hope for a higher limit card. The other thing is that we had to open a wellsfargo for a new ac unit and that starts at $5,500 right from the beginning so thats making my utilization high.
How many years does it take for your oldest account to fall off your credit reports?
Thanks
10 years from the date paid off, if it is an open account, ie mortgage, student loan or long standing and still open CC it will not age off yet. If you know for a fact you do not have any of these, when you get your 3B report, open the Beta View and click on credit data. It will list every account you have across each bureau, there is a down arrow to expand and see the updates, like ABC Bank, Vehicle Loan opened 2/2006, balance $0 payment $237 term x months, paid as agreed.
You want to look for the loan/charge card that would be mid 2000 for 11.3 years for oldest age. Date last paid if closed example June 2008 would make it drop off next year.
