Utilization - Remove myself as AU?

[NYY053]

FICO 8 EQ 618 TU 610 Experian 636 according to Myfico as of 8/31.

I am listed as a AU on a Chase Card, it has a 8900 limit and the balance is 8600 right now.

I have a low score, and I think this card is killing my Utilization which is a big factor, along with the First Premier Charge off (700CL/985BAL)

I worry because I think I might get a credit score bump if I remove myself, but IDK if the fact this account is the oldest open account on file is going to hurt me more

My other lines of credit are

Mine - Open 9/16 Cap One $500 CL - $40 Bal

Mine - Open 10/16 Kohls $300 CL - 0 Bal 

AU Open 1/2016 Amex 9800 CL  - 0 Bal

FPBC Charge off 700 - 985 Bal  -  Wanting to pay this off sometime soon, was hoping they would PFD but no luck

I have other several tradelines paid as agreed that are older but closed, I have a few car leases that were paid as agreed but for shorter terms within the last couple years and were closed

thoughts?

[Berk]

You can't remove yourself - meaning you can't call the lender directly and have yourself removed from the account. Only the account holder can do that.

At this point your util is 44%. I would think the charge off is what is really affecting your score - that and the AoA. Get the charge off taken care of and then see where your scores go. 

[SouthJamaica]

---

@NYY053 wrote:

FICO 8 EQ 618 TU 610 Experian 636 according to Myfico as of 8/31.

I am listed as a AU on a Chase Card, it has a 8900 limit and the balance is 8600 right now.

I have a low score, and I think this card is killing my Utilization which is a big factor, along with the First Premier Charge off (700CL/985BAL)

I worry because I think I might get a credit score bump if I remove myself, but IDK if the fact this account is the oldest open account on file is going to hurt me more

My other lines of credit are

Mine - Open 9/16 Cap One $500 CL - $40 Bal

Mine - Open 10/16 Kohls $300 CL - 0 Bal 

AU Open 1/2016 Amex 9800 CL  - 0 Bal

FPBC Charge off 700 - 985 Bal  -  Wanting to pay this off sometime soon, was hoping they would PFD but no luck

I have other several tradelines paid as agreed that are older but closed, I have a few car leases that were paid as agreed but for shorter terms within the last couple years and were closed

thoughts?

---

Yes you should absolutely get yourself taken off of that account.

[Anonymous]

I tend to agree with SouthJ.  Basically there are three factors to consider in a decision like this:

(1)  Age of Oldest Account

(2)  Total Utilization

(3)  Individual Utilization

#1.  The fact that the AU is older might matter if it was much much older than your second oldest account.   You don't tell us the age of this Chase AU account, which is what makes it hard to advise you.  If the account is 30 years old, then the situation becomes hard to decide.  Better might be to talk to the owner and see whether they can pay it down.  If it is only a year older it is giving you very little benefit.

#2.  Berk has done the math and figured out that your total U is 44%.  That's compared with the much smaller U that you'd have without it.  (1-5%)  The 44% total U is hurting your score significantly compared with 1-5%.

#3.  This is > 91%.  That's very bad and you'll be taking a hit for that.  That hit will go away if you get removed as an AU.

[rmduhon]

You can remove yourself as an AU on most cards, although it's usually easier for the primary to remove the AU.