Removing mself as an AU from parents card

[Anonymous]

Im 25 , recently married and have been an AU on my parents card for a number of years. My wife wants me to be removed from this card.  My mother talked with the CC represenative and she said it would be no problem to be removed as an AU but, it would show up as "Terminated" on my credit report.  When I bought our house that card showed 10,000 on it then, but my parents pay it off every month. The wife is worried about that card debt bringing us down if we ever need to borrow any money, even though its payed off ever month.  My score was aproximately 740 last time it was ran,  So my main question is, will this "terminated" being on my report, hurt my score in any way? and how long will it show terminated ?   Sorry im not very CC savy, but i do have another personal card of my own that i keep payed off .

[Revelate]

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@Anonymous wrote:

Im 25 , recently married and have been an AU on my parents card for a number of years. My wife wants me to be removed from this card.  My mother talked with the CC represenative and she said it would be no problem to be removed as an AU but, it would show up as "Terminated" on my credit report.  When I bought our house that card showed 10,000 on it then, but my parents pay it off every month. The wife is worried about that card debt bringing us down if we ever need to borrow any money, even though its payed off ever month.  My score was aproximately 740 last time it was ran,  So my main question is, will this "terminated" being on my report, hurt my score in any way? and how long will it show terminated ?   Sorry im not very CC savy, but i do have another personal card of my own that i keep payed off .

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Which lender is it?  Being removed from the vast majority of lender's AU's simply airstrikes the tradeline altogether.  Amex is the only one that doesn't work that way to my knowledge.  It may list as terminated in the bank records, it won't on the credit report.

As for the balance, if it is reporting $10K each month, it depends what the limit is, and what your own aggregate CL is as to whether it would make any difference on your FICO score or on your ability to gain additional credit in the future.

As for notations in general, most don't make a difference anyway, closed by consumer or closed by credit grantor are immaterial from a scoring perspective as an example.  I wouldn't worry about it, if you have plenty of other tradelines on your credit report, I'd likely just remove myself in this situation. 

[jim44]

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@Revelate wrote:

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@Anonymous wrote:

Im 25 , recently married and have been an AU on my parents card for a number of years. My wife wants me to be removed from this card.  My mother talked with the CC represenative and she said it would be no problem to be removed as an AU but, it would show up as "Terminated" on my credit report.  When I bought our house that card showed 10,000 on it then, but my parents pay it off every month. The wife is worried about that card debt bringing us down if we ever need to borrow any money, even though its payed off ever month.  My score was aproximately 740 last time it was ran,  So my main question is, will this "terminated" being on my report, hurt my score in any way? and how long will it show terminated ?   Sorry im not very CC savy, but i do have another personal card of my own that i keep payed off .

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Which lender is it?  Being removed from the vast majority of lender's AU's simply airstrikes the tradeline altogether.  Amex is the only one that doesn't work that way to my knowledge.  It may list as terminated in the bank records, it won't on the credit report.

As for the balance, if it is reporting $10K each month, it depends what the limit is, and what your own aggregate CL is as to whether it would make any difference on your FICO score or on your ability to gain additional credit in the future.

As for notations in general, most don't make a difference anyway, closed by consumer or closed by credit grantor are immaterial from a scoring perspective as an example.  I wouldn't worry about it, if you have plenty of other tradelines on your credit report, I'd likely just remove myself in this situation. 

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I was told by a loan officer that although closed by consumer and closed by credit granter doesn't have an effect as such on your score, it still has a little influence on lenders that review your CR. He told me that whenever I close an acct to make sure the CG lists it as closed by consumer. I'm in agreement with the airstrike. A friend's X removed him as an AR and the TL no longer shows on his CR's. 

[Anonymous]

BOA is the lender best of my knowledge, my main concern was that after I was removed as an authorized user on that card, it would show up as "terminated" on my report. Didn't know if that "terminated" being on my report would affect my score.

[DrMac210]

The TL should no longer show on your report.

Assuming that it is currently being calculated in your credit scoring, it could increase OR decrease your score when it is removed.

It all depends on the age of the account, UTI, etc.  versus what other accounts will be left on your report.