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moabfan

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Closing Authorized User Account With $20,000 Credit Limit
Closing Authorized User Account with $20,00 Credit Limit

I am an authorized user on my parent's account. The credit limit on their card is $20,000. The card my parent's have is being used heavily, and that's affecting my credit utilization.

How much would it affect my credit score if I dropped their card off my credit lines? Meaning my credit line is reduced to ~ $10,000. My utilization would go way down as I pay off my cards every month, where as my parents do not and have kept a $5,000+ balance.

I am trying to apply for a Chase Sapphire Reserve card, which will require a high credit score. I'm currently at 751 "very good" / "good" standing.

Thanks!

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A 5k dollar balance on that card is only 25% utilization on it, so that is not terrible. If the card was maxed out or close to it, that would be my only concern. You should work to build your own credit though as relying on others for such things is not a good idea. Keep in mind that most lenders use a version of FICO scores, so the scores that you see here probably won't matter much. Chase has a pretty accurate preapproval link on their website, I advise checking it to see if you are preapproved for any of their cards, if you do not see a card on the preapproval list, I would NOT apply for it as it will most likely be a denial. When going for the higher end cards, remember that your income will play a part as well.

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