Question re: Authorized User
05-17-2009 07:06 AM
I've been an authorized user on my parents' credit card since '05 (date of account open), but I never use the card. Recently, they've incurred some expenses and the balance is quite high compared to the limit (18k bal / 23k limit). I have several credit cards of my own with relatively low balances and low credit limits ($1500 bal total / $7500 limit), though they've only been open for about 2 years, as well as around 14,000 in student loan debt. I've never missed a payment on anything, ever, and my credit score is 703 (TransUnion and Equifax)
My question is: If I am removed as an authorized user on my parent's credit card, will the account still show up on my credit report? If so, would the ensuing reduction to my overall 'debt' (even though it's not really mine) compared to the total amount of credit (the extra 23k limit) be worth it compared to the benefit of the perfect payment history on the card for the last 4 years?
If you need more info to answer the question(s), please post and I'll provide what I can. Thanks.