My comments in blue below.
@Anonymous wrote:
Hello!
The Credit card was opened on 12/14/16 - no lates, perfect payment history
By "the credit card" you mean the card on which you are an AU -- is that right? You have a number of credit cards, so we need to be sure that we know which card you are talking about.
Also, when you say that the card was opened on 12/16, is that what your report says? Again, it is really important to drill into your three reports and see what they say. That's what matters.
The Oldest Account on my CR is B of A Secured BankAmericard Visa Platinum, opened 11/2/2015, 2 lates - last late 9/17 (simply forgot to pay- smh)
I am in possession of the AU card and can ensure that no further charges will be made should I decide to stay on account.
Thank you!!!
In what follows, I will assume that the AU card was opened 12/16, that you have an older account of your own, and that your reports also reflect these dates.
If that is true, I see no problem with getting removed as an AU. The central way an AU account helps a person is in the event that the AU account is far older than the oldest account in his name. In your case, the AU account is actually younger.
Of course, it sounds like you have debt on that card that needs to be paid off, so you should still monitor that to see that it happens by the Feb timeline, just in your capacity as being an ethical child of a parent.
Before we leave the subject of AUs, you might want to see whether you know of a person who has a very old card that is completely clean and could be kept reporting at a zero balance. Being added as an AU to THAT card could help you out a lot.
The other stuff you need to do is what the other folks have advised you to do, notably stop applying for new accounts and pay off off all all cards, and then move forward by keeping all cards at $0 except one. If you have any cards that have not been used at all for sometime, you should use them fairly soon for a small purchase (make it something you genuinely want or need). Cards need to be used once every six months to protect them from being closed due to inactivity.
While you are working on that, it is crucial to begin working on a strategy to get as many derogs deleted from your reports as possible. BBS knows quite a bit about that. One strategy you will hear about is "Goodwill Letters." Before you engage in those get the high utilization AU removed from your report. And you can begin exploring a Pay For Delete strategy with any and all collections.
