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aab05

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Taking name off parents credit card
My parents put me as an authorized user on their credit card when I went off to college. I have never had to use it. However my parents have now maxed it out, but do make their payments on time every month. I am getting married in a year and will be looking to buy a house. Will taking my name off the card hurt my credit score more than having the maxed out card? How dramatically would it drop? Or would it be better to take my name off the card so when I go to get a mortgage, there is not a maxed out card on my credit report? Thanks.

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That all depends on your current credit score and history.  I suggest you pull a copy of your credit report at www.annualcreditreport.com and download a copy of your credit report (this website is associated with TransUnion, if you want to pull that one).  Then you'll need to decide if it is better for you to remove yourself from the card (easy to do, just call the creditor and tell them to remove you) or if it is better to keep it.  Many things depend on this, your current credit status, number of credit lines you already have (if any), payment history, mix of credit...   I also suggest going to www.credit.about.com and look at tabs "Learning Credit" and more.  Sorry I can't give you an easy answer, but as your start reading & learning you'll soon find out why.  Best of luck!

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