Should I remove myself from a friend’s credit card as an authorized user because he keeps a high balance?
thatblissguy asked:
Last year a friend of mine with excellent credit added me as an authorized user to his credit card to help me get my mortgage. His account was in good standing since ‘93 and his limit was close to $75k. Now, its almost a year later, I have added highly positive credit history, increased lines of credit, lower balances to all of my own accounts. He has been keeping a high balance of $20k+ on his card and when it goes up I notice my score go down a few points. I am wondering whether I am strong enough to stand on my own (no late payments in 6 years), my score is fragile as I had old bad marks against me, I keep my inquiries and accounts as low as possible, and have recently gone from secured Visa to unsecured $3000, then last week to $4500 unsecured. This made my TransUnion score go up 30 points. Account Pros: 2 years positive payment history, and a high line of credit, but Cons: a $20k balance. Should I remove myself from this account? Will it help me or hurt me?
Link to Blog: Lending and Borrowing
Last year a friend of mine with excellent credit added me as an authorized user to his credit card to help me get my mortgage. His account was in good standing since ‘93 and his limit was close to $75k. Now, its almost a year later, I have added highly positive credit history, increased lines of credit, lower balances to all of my own accounts. He has been keeping a high balance of $20k+ on his card and when it goes up I notice my score go down a few points. I am wondering whether I am strong enough to stand on my own (no late payments in 6 years), my score is fragile as I had old bad marks against me, I keep my inquiries and accounts as low as possible, and have recently gone from secured Visa to unsecured $3000, then last week to $4500 unsecured. This made my TransUnion score go up 30 points. Account Pros: 2 years positive payment history, and a high line of credit, but Cons: a $20k balance. Should I remove myself from this account? Will it help me or hurt me?
Link to Blog: Lending and Borrowing
June 30th, 2009 in
Credit | tags: 20k, 6 Years, Credit Card, Credit Help, Credit History, Inquiries, Mortgage, Payment History, Score, Secured Visa
Rather interesting. Has few times re-read for this purpose to remember. Thanks for interesting article. Waiting for trackback
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Valuable thoughts and advices. I read your topic with great interest.
Hmm… I read blogs on a similar topic, but i never visited your blog. I added it to favorites and i’ll be your constant reader.
По-моему, у Вас украли эту статью и поместили на другом сайте. Я её уже видела.
Interesting and informative. But will you write about this one more?
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