topic Re: Need Advice: Authorized User in Rebuilding Your Credit

Need Advice: Authorized User

Anonymous — Wed, 27 Aug 2008 03:22:54 GMT

Okay, so far I have removed bad info, and a few other items, and am down to one account that was never mine that disputing wont remove... it is due to fall off next month, even though I really need it off like -- yesterday.

Here is my current problem.. I ran my scores tonight and noticed that a cc that my girlfriend got is showing as "authorized user" on my credit report. She DID ask for to be issued in my name once she got hers.. but never ONCE, EVER.. have I given my social security information, nor signed anything.

The problem is.. it IS affecting my credit because I only have 3 credit cards, and have 2 of them paid down to under 12%, and the other is a Dell account, currently at 83%. With this NEW card of hers on my credit, my Fico simulator is showing that I now have "too many accounts" and it has hurt my credit age (average account age) -- so, how can I get this account OFF my credit?

I'll happily cut up the card, as I never use it.. she only got the darn thing to work on her credit, and she charged it up to almost max.

Should I get it removed? Or leave it and pay it down to 10%?

Any advice is greatly appreciated.

Re: Need Advice: Authorized User

Anonymous — Wed, 27 Aug 2008 03:41:37 GMT

If you have your own CC with a longer history and the card is not helping your util......IMO, ditch it. It is serving no purpose.

Figure you util with the card, figure the util without the card, and figure your util with the card--but paid down to a $0 balance.

How old is the account?

What is your average age of accounts with and without it?

On the account that is not yours...I suggest you reading the information that the FTC provides regarding identity theft.

Re: Need Advice: Authorized User

Anonymous — Wed, 27 Aug 2008 03:50:48 GMT

sidewinder wrote:
If you have your own CC with a longer history and the card is not helping your util......IMO, ditch it. It is serving no purpose. How do I remove an AUTH USER account from my CR?

Figure you util with the card, figure the util without the card, and figure your util with the card--but paid down to a $0 balance. Her card is at 80% util.. My Util WITH her card is 51% -- without her card my util is 38% (cc1=12%, cc2=13%, dell=83%)

How old is the account? Her new CC account is only 4 months old.

What is your average age of accounts with and without it? Well, since I screwed up a few months ago ( I wrote about this in a previous post) and accidentally deleted my two oldest accounts from 20 years ago... my current average account age is about 15 months.. with her card on there, it changed to avg age of 8 months.

On the account that is not yours...I suggest you reading the information that the FTC provides regarding identity theft. Will Do!

Thanks!

Re: Need Advice: Authorized User

Anonymous — Wed, 27 Aug 2008 04:09:24 GMT

Going from 51% to 38% should get you a few points.

Going from under 1 year average age to over 1 year average age, that should get you a few points as well.

To remove it from your report, you or your friend will need to remove you as an AU. Then ask the company to remove it from your report.

If they won't, you can dispute with the CRA stating that you are no longer a AU on the account.

Marsaeus wrote:

sidewinder wrote:

If you have your own CC with a longer history and the card is not helping your util......IMO, ditch it. It is serving no purpose. How do I remove an AUTH USER account from my CR?

Figure you util with the card, figure the util without the card, and figure your util with the card--but paid down to a $0 balance. Her card is at 80% util.. My Util WITH her card is 51% -- without her card my util is 38% (cc1=12%, cc2=13%, dell=83%)

How old is the account? Her new CC account is only 4 months old.

What is your average age of accounts with and without it? Well, since I screwed up a few months ago ( I wrote about this in a previous post) and accidentally deleted my two oldest accounts from 20 years ago... my current average account age is about 15 months.. with her card on there, it changed to avg age of 8 months.

On the account that is not yours...I suggest you reading the information that the FTC provides regarding identity theft. Will Do!

Thanks!

Re: Need Advice: Authorized User

Anonymous — Wed, 27 Aug 2008 04:15:51 GMT

Perfect, Thanks!