Reply
New Member
Posts: 1
Registered: ‎03-28-2013
0

Authorized User on a High Balance Card

I am an authorized user on one of my parents Visa credit cards. It has a $10,000 limit and it's now carrying a balance of $9,000. My parents expect to pay off the balance in 23 months. I don't  use the card, the last time was 3  years ago in college. I only became aware of the high balance when I checked my credit report last week. I have an American Express with a limit of $4,000 and a $0 balance. What is the best course of action to limit the damage? Remove myself as an authorized user right away, wait until the Visa is paid down and then remove myself or something else?     

Blogger
Posts: 3,330
Registered: ‎10-19-2012
0

Re: Authorized User on a High Balance Card

23 months is a really long time, and there is no guarantee that they will actually be able to pull it off. I'd suggest getting removed right away so your credit profile is ready for the next credit application should the need arise. :smileywink:

Moderator
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Authorized User on a High Balance Card

Valued Member
Posts: 117
Registered: ‎03-05-2013
0

Re: Authorized User on a High Balance Card

Yeah, tell them to get you off that card.

Top 3: Amex BCP 25k - Chase Sapphire 17.5k - PSECU 20K


Starting Score: 714
Current Score: 759
Goal Score: 800

Take the myFICO Fitness Challenge

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.