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Question By
jwp122

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Company card issued in my name
I was given a company credit card with my name on it. This card shows on my credit report and has a high balance but is paid off every month. Though it seems to be affecting my score I believe cause I see that if I remove the balance my score jumps 49 points. Is it true that it's affecting my score even though I'm just an authorized user?

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Not a negative sign!

Helpful to 1 out of 1 people

I think that you are having a plus that you get this business card from the company reported. Note that the monthly balance is high, but it is new balance, and it is paid in full every month. This is not like when you have high balance on your own, you pay minimum or some down amount but next month you still have a high balance (this balance is not new, it is OLD). Most credit grantors therefore will look at your case as positive. And even if they don't and they deny your credit application, you still can always ask for a reconsideration to explain directly to a credit analyst for a very high chance of inverting the decision into approval. Hope this helps.

Top Contributor
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It sounds like overall credit utilization is what is affecting your score. There are two ways to lower utilizations #1 - let a smaller amount report (1-10%) or #2 - increase your overall limits. #1 is probably not an option since you probably don't have any control over when your payments are made, assuming this is handled by your employer. Then you should focus on #2, open a new card or increase the limits on existing cards. Your "credit score card" here on CK will help you determine exactly what is affecting your score, if it's utilization it will give you a grade. Having this account report however is a good thing for your credit, as long as your employer continues to make payments on time.

Reply by
jwp122

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Thank you for your response. My utilization is at 65% and pretty much all of that is due to this company card as my personal card carries no where near the limit the company card carries. The company seems to have been paying it off in full every month which is good but still my score is low. I haven't had the greatest credit history in the past but have worked the past two years on improving it. I used the simulator and if I remove the card my score seems to really jump. I know it's just a simulator though. My issue is I can't open another card or receive even a small loan cause I'm thinking the lenders are seeing this high limit card carrying a high balance at times on top of my car loan. I mean this card carries a limit of a quarter my salary so does the debt to income ratio come in to play here? Like I said I'm just trying to get my ducks in a row as I've hit that point in life where I'm settling down, looking at engagement rings etc. and it's just bothering me that this company card could be holding me back from obtaining my own loans if needed.

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