Do I remove myself as AU?

[mab463]

Hi!

So I'm an AU on one of my mom's cards and one of my dad's - both at 80% utilization. It's made my AAOA 18 yrs though.

We are in the process of selling my grandma's apartment in which my mom could pay down her 8k line fully, so that would make just my father's account still high. He would likely pay off some of it but he has around 20,000/27,000.

Is it worth taking myself off as the AU on his account, even though my mom's will soon come down?

I know you all understand this analysis much better than I do. Also, if you do think I should remove myself, please let me know do I just call Chase directly?

[sorry I realized this may be in the wrong forum so moderator please move this if so!]

Thanks!

[coldnmn]

I would, the utilization that high is seriously hurting you. You have cards to garden and grow your credit history. That's my opinion.

[H4LO]

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@mab463 wrote:

Hi!

So I'm an AU on one of my mom's cards and one of my dad's - both at 80% utilization. It's made my AAOA 18 yrs though.

We are in the process of selling my grandma's apartment in which my mom could pay down her 8k line fully, so that would make just my father's account still high. He would likely pay off some of it but he has around 20,000/27,000.

Is it worth taking myself off as the AU on his account, even though my mom's will soon come down?

I know you all understand this analysis much better than I do. Also, if you do think I should remove myself, please let me know do I just call Chase directly?

[sorry I realized this may be in the wrong forum so moderator please move this if so!]

Thanks!

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Your parents have to contact Chase to have them remove you as an AU.

You could just contact the CRA's and have them remove you as you're not the owner of the accounts. 

[mab463]

Thanks for the quick reply. You think it's best to keep my mom's though right? She will never use it again except for small things once it's paid off, and I figured it made sense since I'm gardening ATM to keep that card with the knowledge she will likely pay it off in the next month or two.

[mab463]

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@H4LO wrote:

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Your parents have to contact Chase to have them remove you as an AU.

You could just contact the CRA's and have them remove you as you're not the owner of the accounts. 

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Is one easier than the other? I feel like contacting Chase may be easier than contacting all of the CRA's. My dad would happily do so.

[coldnmn]

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@mab463 wrote:

Thanks for the quick reply. You think it's best to keep my mom's though right? She will never use it again except for small things once it's paid off, and I figured it made sense since I'm gardening ATM to keep that card with the knowledge she will likely pay it off in the next month or two.

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Yes, so you know some credit card companies don't figure in AU and some do when applying for new credit.

[mab463]

I didn't realize that. I know for Cap One they do, as Equifax wanted to decline me due to the high utilization. I am moving out and starting my own job, so I don't want to be held back by then, but I also don't want to shoot myself in the foot by taking off cards that added to my AAOA and will likely have <50% utilization by the end of the year.

[coldnmn]

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@mab463 wrote:

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@H4LO wrote:

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Your parents have to contact Chase to have them remove you as an AU.

You could just contact the CRA's and have them remove you as you're not the owner of the accounts. 

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Is one easier than the other? I feel like contacting Chase may be easier than contacting all of the CRA's. My dad would happily do so.

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Chase is who they contact and Chase updates the credit bureaus.

[coldnmn]

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@mab463 wrote:

I didn't realize that. I know for Cap One they do, as Equifax wanted to decline me due to the high utilization. I am moving out and starting my own job, so I don't want to be held back by then, but I also don't want to shoot myself in the foot by taking off cards that added to my AAOA and will likely have <50% utilization by the end of the year.

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50% is high it should be below 30% total and individualy. Really below 9% is ideal but 30% is okay.

[mab463]

Okay, can you exlpain one last thing to me as well?

apparently: Equifax, meanwhile, will stop reporting new information associated with the account once you're removed as a user. However, history up to that point will continue to be reported for the usual seven years (if the account was not paid as agreed) or 10 years (if the account was paid as agreed).

So does this mean just the debt up to this point will then show on my credit report? I'm not sure how that helps me then if EQ does that.