Removal from joint cc account

[Jackal24]

My dad has a credit card with a fairly high limit and a utilization of about 70%. I also have a card for that account. Should I get him to remove me from his account? If he removes me, is the entire trade line pulled from my account? or does it say closed? or what?

Thanks

[RammaCredit]

I believe the entire TL is removed from your CR. What does your  credit profile look like scores etc. Do you have any cards of your own? These are factors you should explore before you decide to be removed. Also if 70% of the limit is being used that will affect your score.

[llecs]

To throw in an example from my DW's reports, she also had a card reporting from Citi that was owned by her dad. It had a balance of $6000 on a $6200 CL. Effectively, it was maxed out and the best she could do per overall utilization was 95%. There was nothing she could do to improve other than to get more CCs to dilute. It had no lates and the history was over 10+ years (I can't remember how old).

Anyway, she removed herself as an AU and her FICO scores dropped about 20 across the board. Why? The history helped by adding 10+ years beyond her oldest TL and I clearly remember her AAoA dropped from 8 years to 3 years. The weight of the history was more than the damage from the util. Ironically, her father PIF the following month after years of carrying a high balance. Sigh.

Once removed as an AU, the TL will disappear.

[MarineVietVet]

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@Jackal24 wrote:

My dad has a credit card with a fairly high limit and a utilization of about 70%. I also have a card for that account. Should I get him to remove me from his account? If he removes me, is the entire trade line pulled from my account? or does it say closed? or what?

Thanks

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To be clear are you an Authorized User on this account or is it truly a "joint" account? The answer to that will dictate what you can do.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[RobertEG]

I have never seen this happen. It is actually a renogiation of terms.

Why would they want to keep the account open, and give up their ability to pursue the debt with two parties rather than only one?

[llecs]

MVV and Robert brought up something I missed: It's a joint account, not AU. Ignore what I said, OP.

[MarineVietVet]

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@llecs wrote:

MVV and Robert brought up something I missed: It's a joint account, not AU. Ignore what I said, OP.

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I only asked because it's not clear whether this is truly joint or not.

To Jackal24: You need to find out the true status of this account. If you are just an AU it's simple to have yourself removed. If this is a joint account then it becomes more complicated.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".