I have a $15,600 Citibank line on which my wife is an AU (even though I can't recall this, and she doesn't have a card?) We have it near maxed out. She has a $16K line that I'm an AU on (deliberately.) Same deal--0% BT line, maxed out. Both of these will be paid off in full before the promo rate expires. We both also have a good $200K in lines, and our total usage is maybe 20% of that with no balances carried. QUESTION: in order to boost FICO scores, would it be best if removed each other as AUs? That way, we SHOULD have one card each show up as maxed instead of two... This can be done right on the Citibank website, so it wouldn't be an involved process. If it WOULD likely help, how many cycles before the line would stop showing up on the spouse's account? Or would we need to dispute to get it removed? TIA, Dave
just thinking out loud here, but why would they even consider dropping one of you from liability? Right now they have both of you on the hook for a very large debt. I don't see why they would even consider letting one of you off the hook. It would be different if there was no balance on the cards. Having said that, I am also interested in this question because I have a similar situation. So, if it can be done, I would like to hear how.
I have wife AU on DISCOVERCARD...I had it MAXED...on EQUIFAX it was "STATED" as owed...but it was NOT in her "TOTAL OWED" for some reason... SO IT MAY NOT HURT... If you want to...get rid of the AU'S... The only reason you have an AU is so they can use the account and they have their own card with their name printed on it... LOOKS LIKE YOU DON'T REALLY NEED ANY AU'S FOR "BUILDING" CREDIT...
I did something simliar with my hubby, he was an AU on one of my cards that was at about 65%, I removed him as AU and then disputed account, they removed, but his score didn't change. The reason, by removing this account, it also took away the credit limit, so by removing it didn't really effect his debt ratios, he lost the debt, but also lost the credit that was factored into his score.
Thanks for the replies all thomas, citibank lets you simply do this on the website, per my original post. I don't think it effects liability, as it isn't a joint account. George, you're right, it isn't a credit building issue. If it wouldn't help scoring, I won't bother dropping it, as it gives us the ability to make occasional transactions/mildly more convenient. But if it would, then I'd do it in a second. Momof3, that makes sense. In our case though, we have plenty of limit, so I would _think_ that it might help...was wondering if anyone had more info on this.
Dave, I'm in a similar position. I took myself off or two of my wife's cards and took her off all of my cards. My score went up, hers stayed about the same. Citi did not change reporting on the CRA's, they just stopped reporting. My wife had a 10k 0% deal that citi left on all three of my reports until I disputed it two months later. With 200k in cc lines, you shouldn't have to worry about your ratios being affected. The only way it may hurt you is if you take yourself off of an old account. Don't forget the age factor, other than that, close away.
Thanks for replying wolverine "Citi did not change reporting on the CRA's, they just stopped reporting." I'm not sure I understand...so the AUs no longer showed up, or they continued? "My wife had a 10k 0% deal that citi left on all three of my reports until I disputed it two months later." I see, so it probably makes sense to remove the AU, then immediately dispute, you think? Right...as the accounts are brand new, the age factor works against us too...sounds like closing is the best bet.
