Should I have account removed from CR?

[Anonymous]

Hi All,

My mother in law has a home depot card that is maxed out. I am listed as an authorized user so it is reporting the card on my cr. The account only has a payment history of 7 months. Should I have this account deleted from my report because of it being maxed out? or should I let it stay on for an aditional trade line????

[Anonymous]

UTL plays a big part of your score, what other tl's do you have on your account and how close to maxed are they?

I'm no pro, but being a new card, and nearly maxed out, I'd imagine it's hurting your UTL ratio as well as your average age of accounts

Message Edited by modernsurrender on 02-29-2008 08:53 PM

[Anonymous]

Do you need the extra TL?

I would say drop it since it is maxed and very short on history.

[Anonymous]

well i had a ch 7 bk discharged 1/04. The only other accounts I have are 3 small cards w/$300 limit. balance of $40 on 2 & $200 on the other. & a car lone that I co signed for my mother in law. I ran a faco on credit keeper and it said if I deleted that account my score would go up 14 pts.

[Anonymous]

I would drop it then.

Keep paying on your cc's and try to keep the utility low and you will see your scores increase.

[llecs]

It really doesn't matter anyway. Once the scoring model changes, then that card won't count.

DW was in a similar boat. I mentioned this a couple times before, but DW's dad had a Citi card with her as an AU. The card was basically maxed at $6000 on a $6300 CL. Her utilization could never be less than 95% because of that. However, the card was 6 or so years older than her oldest card.

So, we disputed via each CRA and it was deleted. Scores dropped I think around 10 pts avg. Darn it. To rub salt in the wound, dad-in-law paid off all of his CCs the following month.

The card is easy to remove. I don't know if that is different if there are baddies on it or not.

[Anonymous]

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llecs wrote:

 To rub salt in the wound, dad-in-law paid off all of his CCs the following month.

Ouch

[llecs]

He realized his 5% earnings on his CD was no match for 20% to 30% in CC interest. Wise move Dad#2.

[Anonymous]

account has never had a baddie. but has CL of $2250 & balance of $2200

[llecs]

If you have the acct removed, you could see a bump in scores: lower util% and improved history (assuming your CCs are all not 7 months or less).