topic Re: open accounts? in Understanding FICO® Scoring

open accounts?

Anonymous — Wed, 13 Oct 2010 02:38:47 GMT

i have 3 credit cards in my name. but transunion shows another account that was my parents where i was an authorized user. it has a high balance and a high limit. 14,000 balance and probably 25,000 limit i think. my credit score is higher in transunion. should i have this card taken off my credit report or should i leave it. im trying to build my credit as it isnt soo good???????

Re: open accounts?

Anonymous — Wed, 13 Oct 2010 02:48:01 GMT

@Anonymous wrote:
i have 3 credit cards in my name. but transunion shows another account that was my parents where i was an authorized user. it has a high balance and a high limit. 14,000 balance and probably 25,000 limit i think. my credit score is higher in transunion. should i have this card taken off my credit report or should i leave it. im trying to build my credit as it isnt soo good???????

Hi and welcome to myFICO.

Being removed as an AU on that card might help you but it might also hurt you. I'll try to explain.

If that card is much older than any yours then removing yourself will lower your AAoA (Average Age of Accounts) and credit length history. But that damage could be offset by having the high utilization on this card taken off your report.

What you can do is remove yourself from this account and see what happens to your score. You can always have yourself added back at some point in the future.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 8/10-772
You can do the same thing with hard work

Re: open accounts?

RobertEG — Wed, 13 Oct 2010 02:49:09 GMT

FICO scores % util of CL, and not CL itself... What is your % util on the cards that you have?

What derogs are reporting on the AU account?

I would calculate the overall % util with and without the AU card.

56% util on the AU cards is probably not doing you any favors.

Re: open accounts?

Anonymous — Wed, 13 Oct 2010 03:10:22 GMT

i just looked again. it looks like the card i mentioned is no longer linked to me. either i was taken off the account or my parents no longer have that account. they actually claimed bankruptcy so i don't know how that would have affected me. my 3 credit cards in my name are pretty much maxed out. i think thats what u meant by % util. but the 3 cards that i have total about 3500 total in limit which is not that high. i do have 2 loans out that total about 20,000(car and a personal loan)