topic Re: Do not want to be Authorized User! in General Credit Topics

Do not want to be Authorized User!

Ljeen — Wed, 30 Apr 2008 17:45:05 GMT

Hello, my husband thought it would be a good idea to give me a Exxon mobile card that is in his name incase I lose the speedpass and whatnot. I found out that Exxon put it on my CR. I now have a new line of credit for 1200. I did not agree to that! I want it off. If he cancels my "authorized user" of this card. Will they just remove it from my report and it won't be a bad reflection?

Thanks!

Re: Do not want to be Authorized User!

Anonymous — Wed, 30 Apr 2008 17:50:12 GMT

Why remove it?

Re: Do not want to be Authorized User!

Ljeen — Wed, 30 Apr 2008 19:04:48 GMT

Because it adds to my DTI of what I owe if I ever want to apply for a mortgage, which I would be applying on my own. (hubby's report to much of a mess) They count that as one more thing I have to pay. I have enough on my report. So will removing it hurt my report? or will it just not show up anymore.

Message Edited by Ljeen on 04-30-2008 12:04 PM

Re: Do not want to be Authorized User!

Anonymous — Wed, 30 Apr 2008 21:19:06 GMT

is there a balance on it? How much is the minimum payment? Honestly the amount of a minimum payment on 1200 dollars or less will likely have very little impact on the amount you can borrow.

But if you ask to be removed it should be off your report w/in the month.

Re: Do not want to be Authorized User!

Anonymous — Wed, 30 Apr 2008 21:22:06 GMT

If you are thinking of going FHA for a home loan...all your husbands debt will be counted as yours anyway...FHA counts all debt of married couples on the one who's applying...and they will only count your income...and if they count his...it will have to be joint...and they will use the lower scores...messed up huh...I know...

Re: Do not want to be Authorized User!

Anonymous — Wed, 30 Apr 2008 22:56:23 GMT

@Ljeen wrote:
Hello, my husband thought it would be a good idea to give me a Exxon mobile card that is in his name incase I lose the speedpass and whatnot. I found out that Exxon put it on my CR. I now have a new line of credit for 1200. I did not agree to that! I want it off. If he cancels my "authorized user" of this card. Will they just remove it from my report and it won't be a bad reflection?
Thanks!

LOC for 1.2K?

Or an actual balance of 1.2K?

Re: Do not want to be Authorized User!

Ljeen — Fri, 02 May 2008 13:21:58 GMT

They count my husband's debt if I am the only one applying? Hmmm after studying FHA for a year now this is news to me. A mortgage banker (not broker) did not say that. I'm sure he would have mentioned it after we calculated a senario with just me and his insitituion did many FHA loans. Well If I have to conventional I will is this is truly the case.

Thanks.

Re: Do not want to be Authorized User!

Ljeen — Fri, 02 May 2008 13:22:28 GMT

The balance is 1,200. on the Exxon bill.

Re: Do not want to be Authorized User!

Anonymous — Fri, 02 May 2008 13:54:43 GMT

That makes more sense.

but FHA will include your dh's debt (even without his income or credit score)from all the mortgage brokers have said in the Mortgage forums, you might want to ask in th ere

Re: Do not want to be Authorized User!

BungalowMo — Fri, 02 May 2008 14:35:49 GMT

If this card is for exxon station purchases only...

... just my opinion, but I'd keep the card "open", but cut it up or lock it away! First...the price of gas is over the top these days & to buy it on credit & pay interest fees on top of 3.70ish a gallon.... I'd pay that one down asap & maybe only use it if you're travelling.

Re: Do not want to be Authorized User!

llecs — Fri, 02 May 2008 14:48:42 GMT

If you really want it off, you can ask DH to call Exxon to remove you or you can dispute as "not mine" with the CRAs and it should pop off fairly quickly.