I have a couple of questions for the experts out there: 1. If I am an authorized user and have the primary card holder payoff the existing balance and then close my card. Will it show a zero balance and stop reporting to my report? 2. I have a lot of little accounts 2 $1,000 providians, Capital 1 $1200, I also have an MBNA FOR $5500, auto lease payment and some mortgages. My question is I can not really get any high credit lines and think these are holding me back should I pay them off and close the accounts? Everyone on this board seems very helpful. Thanks in advance for any help
Yes it would show a zero balance, but I believe it will still be reported but it will be reported as a closed account, I am pretty sure if not I am sure someone will correct me Your credit lines seem fair, may I ask what you owe on these cards and are they close to the limits?? Mom
RE: Mom I am not an AU, my hubby is on two of mine but I have not closed them yet. I just think they would still appear but be marked closed, although I could be wrong?? Anyone??
RE: Mom Sorry missed the point of your question LOL. Yes both accounts he is an authorized user on appear on his reports Mom
RE: Mom Ok, thanks. I recommended that to a friend, and she became an authorized user on her mom's accounts. roni.
RE: Authorized Users I know for a fact that "AU" can help someone's score. That's mainly how my husband got established. It's not a big help if someone is manually reviewing your report, unsless it doesn't state "AU", some of our "AU" accounts, show as undesignated so they assume it's yours. But overall it's a big help.
Thank you for your info. I owe Cap 1 $0, Providian $2000, and $0, United National $2000, any help would be appreciated
RE: Mom The accounts are still open, whats hurting me I think is outstanding debt. I have no lates just debt and inquiries.
RE: authorized user status on How does the authorized user account read on the reports? Does it say, authorized user, or joint with xxx, or what?
Your cards with balances are their limits?? If so than that may very well be why you are not getting any good offers, you may try to pay them down some, one method to use is pay the min of all but one, that one put a big lump some on every month until it's paid down and when it is do the same with the next one.