Authorized User Wants Out...I think??

[Diamondsforme08]

It's been awhile since I have been in here but last time I was given good advice so wanted to try it again. I know details are important so I will try to be as detailed as possible. Years back, my credit was not very good (mid 500's) so my dad added me as an authorized user to his Discover card so that I can help build my credit. Fast forward to today, my credit is fair (mid 600's) and the account that I am an authorize user on is the account that I think is hurting me. The credit card utilization on this particaular account is at 86% ( not because of me). I was debating about taking me off the account. Would that be better on my score? My dad is having some finanical hardships. He has never been late but the amount spent ($9,680 out of $11,300) is pretty excessive. Anyone know the answer or sugesst what to do?

[sccredit]

IMO with that kind of utilization it does more harm than good. 

[blindambition]

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@Diamondsforme08 wrote:

It's been awhile since I have been in here but last time I was given good advice so wanted to try it again. I know details are important so I will try to be as detailed as possible. Years back, my credit was not very good (mid 500's) so my dad added me as an authorized user to his Discover card so that I can help build my credit. Fast forward to today, my credit is fair (mid 600's) and the account that I am an authorize user on is the account that I think is hurting me. The credit card utilization on this particaular account is at 86% ( not because of me). I was debating about taking me off the account. Would that be better on my score? My dad is having some finanical hardships. He has never been late but the amount spent ($9,680 out of $11,300) is pretty excessive. Anyone know the answer or sugesst what to do?

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I would thank your dad for helping when you needed it. Then promptly remove yourself.

[BmoreBull]

I agree with the posters above. Two things that a AU account has to have are no negatives and low utilization. He's good on the first, but not the second. The other thing is, you can always be added back later if the utilization gets under control. But for now I would let it go. 

[CreditInspired]

All good advice.

And, if you're concerned about hurting your dad's feeling, you can call the bureaus yourself and ask to be removed from the CC because you're not responsible for the debt.  

[Anonymous]

Perhaps you’ve already thought of this, but now the tables are turned and you may be able to help Dad out by adding him to one of your accounts if you have one that you keep at low to no utilization.  This could help him with his overall utilization and hopefully keep any aa happening to him as is happening for so many during this economic climate.  Just a thought, not trying to nose into your business.  Good luck and I’m sorry your father is experiencing financial hardship.  🤞🍀

[gingerflower]

@Diamondsforme08 

In my opinion I would definitely ask your Dad to remove you from he's account, and yes your Dad balance on he's cc Is hurting your scores..That is my opinion Op.

[Anonymous]

Obviously the reason for getting an AU is to help with your scoring, so they should be accounts that have low to zero UT, no lates etc.

Although it does make me curious just how much it's hurting, considering that some Banks disregard AU accounts in "their" scoring.

However, since it seems that card is going though some finacial issues currently. it would probably be best to remove yourself from a possible sinking ship "credit wise".

[CreditInspired]

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@Anonymous wrote:

Perhaps you’ve already thought of this, but now the tables are turned and you may be able to help Dad out by adding him to one of your accounts if you have one that you keep at low to no utilization.  This could help him with his overall utilization and hopefully keep any aa happening to him as is happening for so many during this economic climate.  Just a thought, not trying to nose into your business.  Good luck and I’m sorry your father is experiencing financial hardship.  🤞🍀

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I like this 

[Diamondsforme08]

I actually didn't but that is great advice and really considering this.