I had a relative add myself as a joint account holder on 2 of her credit cards. Reason being was that I needed to get some credit history in order to get approved for credit cards to help build my credit history. What my relative "forgot" to tell me was that she was maxed out on both of these cards even though she never was late on either of them. (I know this is a really stupid situation and definitely learned my lesson) Few questions: 1. Since utilization is now ridiculous, at a credit score of 640 will anyone approve me? 2. If relative removes me as an account holder, what would happen to the items that were reported? Thanks!
EDIT: I am in fact authorized users on both: Card #1: Balance is like 540 out of 550. Opened 2 years ago. Card #2: Balance is like $3000 out of $3000. Opened 1 and a half years ago. If I get myself removed from card#2, how would that effect my score at all?
If you have established credit on you own- I would remove both.
That's the thing though, I have not. It's kind of a catch 22. If I take them both off I will have zero history and then I don't know if I would be approved at all... If I leave one of them on, will any creditors approve me with a close to maxed out utilization?
