When I went off to college my parents gave me a credit card to use in case of emergencies, I never had to use it and it was years ago. I recently found out that I am still on the account as an authorized user. Itâ??s a good account but itâ??s not mine and since I now have my own cards I would like to see about having myself removed from it. So my questions are can it be done and will it hurt my credit score? The balance is zero and itâ??s always been in good standing.
I would just leave the authorized user account alone. As long as it has perfect payment history and has little or no balance on the card. It is not hurting you in anyway. Depending on the length of history that has been established it is adding a few points to your credit score. I would just check the balance on the card every once in a while to make sure it is still low and just let it be. Thanks! Heather with BoostMyScore.NET
Is this account the oldest one on your credit reports? Do you have any other cards in your own name that are of similar age? Also, how much of your total available credit is made up from this card's credit limit?
I have 6 revolving cards a car installment loan and a mortgage. I obtained 1 of the cards about a year into college, another card 2 years into college and the other 4 cards are about 12 years old. I keep the balances under 5% of the available limit.
Thanks for replying, I checked out your website, I would like to learn more about becoming a card holder, I read where someone made 78K on your site in 2010, how much could I earn? please email me.
Go ahead and have your parents remove you as an AU from their card if you'd like. Based upon what you've told me about your credit profile, I doubt it will have much of an effect (if any) on your FICO scores.
