Removed as Authorized User Hurt My Score?

[Anonymous]

Hi everyone-- I'm new to the boards, so any assistance or advice would be greatly appreciated.

I am currently listed as an authorized user on two of my parents' Amex accounts. Although they pay on time, the balance on one of their cards is very close their CL ($13,000 balance with a $15,000 CL). I just graduated college and am looking to build my credit-- and although being an authorized user on those accounts increases my length of credit history significantly, I am not sure how removing myself an an authorized user would affect my score... Right now my FICO score through Equifax (640). Thanks for your help, guys!

[MarineVietVet]

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@Anonymous wrote:

Hi everyone-- I'm new to the boards, so any assistance or advice would be greatly appreciated.

I am currently listed as an authorized user on two of my parents' Amex accounts. Although they pay on time, the balance on one of their cards is very close their CL ($13,000 balance with a $15,000 CL). I just graduated college and am looking to build my credit-- and although being an authorized user on those accounts increases my length of credit history significantly, I am not sure how removing myself an an authorized user would affect my score... Right now my FICO score through Equifax (640). Thanks for your help, guys!

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Welcome to the forums.

What is your AAoA (Average Age of Accounts)? If this is by far the oldest account in your file then losing it's history might be worse than the damage being done by high uitilization. But 87% utilization is very high.

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

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[Anonymous]

My AAoA is 5 years.  However, it seems that that card is not the oldest account in my file. The second Amex card that my parents have me on as an authorized user is older (only by a few months), and it has a $1,700 balance. 

Would it be a good idea to perhaps remove myself as an authorized user on the higher card? Would I also have to send a letter to the CRA stating that the card is "not mine"?

[MarineVietVet]

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@Anonymous wrote:

My AAoA is 5 years.  However, it seems that that card is not the oldest account in my file. The second Amex card that my parents have me on as an authorized user is older (only by a few months), and it has a $1,700 balance. 

Would it be a good idea to perhaps remove myself as an authorized user on the higher card? Would I also have to send a letter to the CRA stating that the card is "not mine"?

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You might take yourself off of this account for a month or so and see what happens to your score. You can always be added back at any time.

Your parents can remove you or you can do it yourself.