"Authorized user" on credit card

[brandi06]

I am listed as an authorized user on someone else's accounts. I have had these cards for several years but am about to be removed as an authorized user. Will this hurt my credit score?

[MidnightVoice]

Yes, I am afraid it might, if they are accounts in good standing. You will lose some age and the credit lines, so your utilization might go up

[brandi06]

So, should I try to apply for a credit card of my own before I am removed as an authorized user on the other accounts? Would this help at all?

[MidnightVoice]

yes, assuming you have reasonable credit

[brandi06]

My scores are EX-683, EQ-676, and TU-646. Are there any cc companies that will approve me with those scores?

[Anonymous]

Sure Brandi.

You can plug your scores in at whogavemecredit.com and I believe financeglobe.

It will give you an idea.

[pattycake]

I think you should have no problem getting cards on your own with those FICO scores. Try Hooters and US Airways Mastercard, and it's very possible you'll get those.

[brandi06]

Thanks for the info! Should I try to apply with some of the cc companies that I'm already listed as an authorized user on or does it matter?

[haulingthescoreup]

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@brandi06 wrote:
Thanks for the info! Should I try to apply with some of the cc companies that I'm already listed as an authorized user on or does it matter?

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Hi, brandi, welcome to the forums! I don't know that it will make a difference one way or another. First research any card you're interested in on these sites by typing it in the search box. Some are real dogs, and you don't want to waste inquiries on them.

I would also strongly advise finding a credit union, either a local one or one of the ones talked about here that have a more national presence. CU's are great for working with new-ish borrowers, and they tend to be much more generous for any given score range.

I can see that you're pretty new here. PLEASE read Credit Scoring 101, if you haven't already. It's stickied up at the top of this thread. There are a lot of things that you need to know before you start applying, such as that each time you apply for a CC, at least one of your credit reports will be hit with an inquiry, dropping your score some. Usually the inquiries don't count for all that much on your scores, but if you collect enough of them, many companies will deny you a new card, even with good scores, because they think that you're in some sort of financial crisis, and you're running around in a panic, looking for credit. And so on. So you need to know what's what and have a plan before you go out there. Credit is useful (and necessary) in so many ways, but the credit landscape has a lot of surprises.

Message Edited by haulingthescoreup on 02-10-2008 05:38 AM