@Anonymous wrote:
OK EVERYONE I HAVE A QUES.......A FEW YEARS AGO AFTER RECOVERING FROM CANCER SUGERY, MY CREDIT WAS SHOT TO ..... ANYWAY, MY MOTHER ADDED ME TO A COUPLE OF HER CARDS IN AN EFFORT TO HELP ME REBUILD MY SCORE .AFTER THE DEATH OF MY FATHER, MY MOTHER RELIES ON THESE CARDS AND HAS JUST ABOUT MAXED THEM OUT.....I DO NOT USE THEM AT ALL. SHE HAS NEVER MISSED A PAYMENT BUT THE HIGH BALANCES ARE AFFECTING MY SCORE. I AM TRYING TO REFI AND PAY THEM OFF FOR HER. I AM IN A CATCH 22. I CANT GET A GOOD LOAN UNTIL MY SCORE HAS IMPROVED BUT MY SCORE WONT IMPROVE UNTIL THEY ARE PAID OFF. THEY ARE WALMAR AND SHELL TOTALING ABOUT 5K...ANY IDEAS?????? DO I NEED TO HAVE THE BALANCES DOWN BEFORE I CAN TAKE MY NAME OFF? SHOULD I KEEP MY NAME ON THEM AND KEEP THE GOOD HISTORY THEY PROVIDE . THE ARE BOTH ABOUT 7 YEARS OLD..THANKS FOR YOUR HELP GUYS!
Hello Julie, We all here would like to welcome you to the forum
With most creditors they do require you to have the balance paid down or off before you can dispute any removal of yourself as an authorized user. But It won't hurt to try anyway right? Also I understand you may be caught in a bit of confusion as to hold on to the good TL or to let it go. My advice, you're only an authorized user, Authorized USERS will no longer be calculated in the new FICO formula. That should take effect sooner than later, just part of a loop hole patch. If you don't mind I ask, what are your scores, most posters here require that information to give you a realistic view of what you may or may not be entitled to. I can tell you this, if you can get your revolving debt idealistically between 1-9% utilization you're golden, you'll notice a great score boost. But if you're a realist like most of us, you may not have the cash to pay down the 5,000 balance right off so lets set the margin at 30%, lets get the balances below 30% and you will indeed benefit from that as well. There's no need to be too aggressive when paying down debt by exhausting your savings, so take it a step at a time, good credit doesn't happen over night. I wish you the best of luck and may blessings shower upon you Julie.
