Spouse account with balance, better to remove or leave?

[Anonymous]

My wife has an account on her credit report (carecredit, it was for a lasik surgery for her), which when I opened it, as her social security number was new (she's a permanent resident), I opened jointly, so that it wouldn't be an issue for approval. Now, we're looking to buy a home, so I've been cleaning up my credit report/score actively. I was wondering if:

1. Is it better to leave this account (about 40% utilization) on my credit report, as it also adds to my total available credit?
2. Remove this account from my report, which will lower my Total Utilization, but also my Total Available credit?

I haven't been able to find concrete information on which of those would be best for my credit score/report. Currently my credit report has about 40% utilization across the board, all credit cards (which I'm paying down at an accelerated rate while balancing to increase my down payment for the house).

Any thoughts are welcomed.

Thanks,
Michael

[Anonymous]

sykosoft wrote:
My wife has an account on her credit report (carecredit, it was for a lasik surgery for her), which when I opened it, as her social security number was new (she's a permanent resident), I opened jointly, so that it wouldn't be an issue for approval. Now, we're looking to buy a home, so I've been cleaning up my credit report/score actively. I was wondering if:

1. Is it better to leave this account (about 40% utilization) on my credit report, as it also adds to my total available credit?

UTIL is king. If this is a revolving account... Total UTIL <9% is ideal, but there is a ding for individual high UTIL as well. There is also a ding for >50% of your revolving lines reporting a balance.

2. Remove this account from my report, which will lower my Total Utilization, but also my Total Available credit?

Total available credit is only a problem if it's extremely high and going for a mortgage. Again UTIL is king, ~35% of your overall FICO.

I haven't been able to find concrete information on which of those would be best for my credit score/report. Currently my credit report has about 40% utilization across the board, all credit cards (which I'm paying down at an accelerated rate while balancing to increase my down payment for the house).

Any thoughts are welcomed.

Thanks,
Michael

[Anonymous]

I agree that util is what to be concerned with. What is your total util now and what would it be with this account?

You said you added your name to help her get approved, if this is a joint account, I do not believe you can have your name removed.

Adding yourself as AU wouldn't have helped approval.