Can I remove a co-signer from my CC?

[Anonymous]

I had my dad co-sign with me on my first CC.  I never have >3% util, and always PIF, but he still seems to be burdened by it.  If I talk to the bank (wachovia), do you think he can be removed?  Do I have to wait?

[Chopbrocoli]

I am not sure about wachovia, but I know it can be done as well as personal and student loans with other creditors. It does not hurt to ask.

[Anonymous]

You should know your FICO scores before you ask them to do that.  You can then see if your scores alone meet their requirements.

My Wachovia credit card took a journey and was sold to B of A

My Juniper Card was sold to B of A as well in 9/08

[Anonymous]

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@Anonymous wrote:

You should know your FICO scores before you ask them to do that.  You can then see if your scores alone meet their requirements.

My Wachovia credit card took a journey and was sold to B of A

My Juniper Card was sold to B of A as well in 9/08

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Your Juniper card was sold to BoA? What was that about if I might ask?

[Anonymous]

My Juniper card has a CL of $18,600  when it was transfered to B of A  the credit line, interest rate etc all remained the same. One day I used my Juniper bank online to pay my water bill DECLINED, I was in shock. I called Juniper and was told my account was in the process of being transfered to B of A.  Sure enough 2 days later the new card arrived from BofA and the account appeared on my BofA accounts page online. BofA issued me a new account number and sent me balance transfer checks etc.

I started off with ONE credit card from B of A about 6 years ago, now through bank purchases and credit card transfers EIGHT of my cards are with B of A and they are all transfered or sold accounts. I have not opened any new accounts with B of A

Message Edited by Mark-MD on 12-08-2008 06:55 AM

[haulingthescoreup]

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Aupumn wrote:
I had my dad co-sign with me on my first CC.  I never have >3% util, and always PIF, but he still seems to be burdened by it.  If I talk to the bank (wachovia), do you think he can be removed?  Do I have to wait?

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Define "co-sign."

Is this a joint account, where each of you is equally responsible for the card? Or is he just an authorized user on the account?

I suspect that he's a joint account holder, in which case it's very unlikely that they will remove him. You'll probably have to close and re-open the account.

If he was just an AU, all you have to do is call, and they'll take him off.

The reason that I said that I suspect he's joint is because I doubt that it would help you get approved if he were only an AU. With joint holders, the bank can go after them for any and all charges, regardless who made them.

[jmbfl]

A co-signer is actually a step below an AU. An AU can at least use the card - a co-signer can only pick up the pieces after it crashes and burns. (A co-applicant would be able to use and be responsible both. An AU can use but is not responsible.)

Best to call Wachovia directly about this. Their CC operation runs on the obstreperous end of the spectrum so best of luck! I have done business with Wachovia for years but never would take one of their CC's. In fact I have never even been offered one! Best to get this taken care of before Wells Fargo steps in. Do not count on that change being a positive one in terms of customer service.

P.S.

This is my 1000th post! Boy are my fingers tired!

Message Edited by jmbfl on 12-08-2008 03:49 PM