Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
Re: Question re: Authorized User
[ Edited ]
Hi, welcome to the forums.

The answer is: it depends. (Don't you love that?)

Do you know what your FICO scores (pulled here, not from credit monitoring services, etc.) were back when the balance on the AU card was low? If it was higher then, but 703 now, that's an indication that it's probably hurting.

Util without the AU card:

$1,500 / $7,500 = 20%

Util with the AU card:

$19,500 / $30,500 = 65%

65% util is awfully high --20% is higher than it should be, too --so I'd say that right now, it's hurting, despite how much it helps your age.

Calculate your AAoA (average age of accounts) in years and months on your own cards and your SL, plus anything else, open or closed, on your reports beside the AU card. To do so, start with the opening month and date and figure how many months have gone by from then until now. Add up all the months, divide by the number of accounts, and turn it into yy/mm. If you're already over 1 year, that's a plus.

My guess is that the AU card has done its job, helping you to get started, and it's time to let it go.

Since you posted TU and EQ scores, and not EX, I'm assuming that these are FICO scores, which is good. Check the positives and negatives on screen two of each myFICO score report. They're listed in descending order of their importance to your scores. Probably "short history" is at the top, but I'll bet that high utilization is up there, too. Only the passage of time will fix the short history thing, but you can fix the util issue.

You should also get your own util down to 9% or less. Most of us have the best results when only one card reports a balance, and the others report $0. Use the cards, but pay them off online before their statement date, which is the figure that most CCC's report to the CRA's/

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.

eta: +1 for smallfry --brief and to the point! Smiley Very Happy
Message Edited by haulingthescoreup on 05-17-2009 07:22 AM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007