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AU of a high balance Home Depot account

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AU of a high balance Home Depot account

HI, all. Im an AU of a Home Depot CC. The card has limit of 10,000 but the balance is $7000.00. The are paying the minimun everymonth and the balance is not getting any lower. I requested for them to remove me as an AU. My questions is, will Homedepot remove the account from my file or will they mark it as close? Also, how will this affect me as soon as they remove it?

 

Thanks!

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Re: AU of a high balance Home Depot account


@Almostthere93 wrote:

HI, all. Im an AU of a Home Depot CC. The card has limit of 10,000 but the balance is $7000.00. The are paying the minimun everymonth and the balance is not getting any lower. I requested for them to remove me as an AU. My questions is, will Homedepot remove the account from my file or will they mark it as close? Also, how will this affect me as soon as they remove it?

 

Thanks!


They will most likely mark it as relationship terminated since its not actually closed. If the balances dont come to 0 you want to dispute it as not legally responsible for the account to get it removed in its entirety. If you have no other cards that are high in balances you are liable to see a Fico score increase but it depends on your overall profile.

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Re: AU of a high balance Home Depot account

I hope you read this: get off that card as an AU immediately! Whether or not FICO 8 or 9 grade you as an AU, this is pretty much a maxed-out card. I'm HD customer with 2500 credit limit. I only used 606.00 and it dropped my score 6 points. Just imagine if you were to pay off that card and leave a balance of around $5? Your score would jump 25-30 points. I've tried this many times with my HD card. It works all the time. Keep your utilization at or below 5%. Based on the info you furnished, I would get off that card right away. Your utilization is too high. Your scores are most likely taking a 20-25 point hit.
Good luck
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Re: AU of a high balance Home Depot account


@MR_FAKO wrote:
Your scores are most likely taking a 20-25 point hit.


There's no way of knowing without disclosure of all of the OP's credit limits and balances whether or not he's taking a significant hit from the presence of that AU account.  While it could impact his score significantly (say 60 points) it's also completely possible depending on profile that it's impacting score 0 points.

 

 

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Re: AU of a high balance Home Depot account

Question: If the OP doesn't have any plans to make any purchases anytime soon and he/she is aware that the account will get caught up/brought down to a reasonable utilization or even paid in full, would it be more beneficial to let that happen first and then if he/she wanted to remove themselves as an AU, do so then? 

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Re: AU of a high balance Home Depot account

Beneficial in what way exactly?

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Re: AU of a high balance Home Depot account

I have read various post stating that depending on the process of removing ones self from being an AU, some TLs still show a history on that AUs credit report. So with that in mind, if it's completely removed, no harm no fowl, but if it still leaves info there, wouldn't it be better to have something positive left?

 

I think I'm understanding that the AU can still dispute with the CRAs, but just trying to understand because I have a Home Depot AU account with a high utilization, but has an excellent payment history and I am contemplating removing myself, but the account owner has a high probability of paying everything down.

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