When I first started rebuilding my credit about a year ago, I had my mom add me as an authorized user on a card of her's that was reporting for me. I used the card then and kept the balance low. I now have a card of my own (store... $181 bal on a $1000 cl), a credit line of $3000 with $484 on it (Dell), an auto loan down to around $2400, and then I'm authorized on 2 other cards of my mom's (dept. store) with a $350ish bal on a $1000 limit, and another dept store with $0 bal on $150 limit (the suckers dropped us from $300 to $150 when all the lenders started dropping people).
This card I'm wondering about is one I no longer use. She does. It's a store card but an MC that's able to be used elsewhere as well. It's over 50% of the limit.... around $380 on a $600 limit. It's not the longest history I have, but is from around 2009. I have very limited credited history/length.
My question is, would it hurt or help my score if I remove myself as a user of this card? It'd bring my total credit (which is around $5800) down to $600 less, but it would remove this card that's well over 50%. My other cards are nowhere near that percentage. I believe my total percentage when I pulled my TU today was 27% (I'd have to double check to be positive, but it's right around 27%). What's the best route to take here?
Any help is appreciated, thanks for reading!!
Since I have more limited history, if having a 6th account more beneficial (and 2 yrs history), or remove the higher pecentage? Like I said, I don't use the card, and honestly I'm worried about it possibly going up even more.
From what you have posted, it seems that it is hurting more than helping
Scoring wise, while the card is apparently clean of derogs, FICO does not directly give benefit to being derog-free.
The next highest weighted scoring factor is your % util. 59% is too high, when compared with your other cards. Reason one to get rid of it.
Age of accounts is not as significant, but since the age of the AU card is less than your apparent AAoA, then reason two to get rid of it.
While it is nice to retain the apparent higher CL, FICO does not score CL. It scores % util of that limit. Unless you anticipate debt in the near future that the CL of this card is needed to cover, it is not offering you real FICO benefit.
Thanks so much for the reply! This is the feeling I had, but I'm pretty new to all of this still. I'll definitely go ahead and get taken off that card asap. Thanks a ton!