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Question By
debombe

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Unknowingly an Authorized User & Unfortunately Marred by Poor Credit because of it. HELP!
Someone added me to two of their credit cards as an authorized user. Both of the cards are older, which helps my credit history (average 4 years instead of the 6 months it would be otherwise). Unfortunately, one of the cards has had a missed payment, and both cards are at around 97-99% credit utilization!
Over the 8 years (for the oldest one) that the cards have been associated with my name, I've had no idea, and I don't want them associated with me any longer, however it needs to happen.

Will the negative effects that the cards have had be able to be removed?
What will the net impact be on my credit score, with a drastic reduction in credit history, and removal of a delinquent payment, but also drastic reduction in credit utilization (to about 45% overall, which could be paid off whenever desired)?

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TryingToUnderstand is absolutely right about the best plan of action. To add to that, if for some reason you are unable to reach out to the card holder who added you to these accounts, try reaching out to the credit card companies directly and requesting that you be removed. Once they remove you as an authorized user, the entire account will be removed from your credit report as well as any negative effects caused by it being on yoru report. My boyfriend recently had to do this for a card a family member had added him as an authorized user to, and like your experience, that card was nearly maxed out and damaging his credit due to high utlization. His credit reports were updated within a day or two of requesting that he be removed so keep an eye on your reports and contact the bureaus if you do not see any changes within a month. Although your available credit and age of credit history will go down, lowering the utlization by so much is definitely worth removing yourself as an authorized user on those accounts. Raising your available credit and lengthening credit history will come with time and raise your score accordingly, but keeping a high utilization can do quick damage to your score that can take a long time to recover from. It's difficult to provide an estimate of net impact because it is certainly a little bit of a trade-off either way but losing available credit and age of credit history in exchange for lowering your utilization by so much is worth it.

-Taylor

Reply by
debombe

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Thank you so much for your reply. I really appreciate you taking the time to give me advice on how to improve the crucial aspect of life known as the credit score!

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Tell the card holder to remove you as an authorized user. Call the credit bureaus (transunion, equifax and experian) and tell them that you want the account removed from your reports. It will be no problem removing it from your credit reports. Losing the history is worth losing the late payment and high utilization. As far as your personal utilization of 45% get that paid down as soon as you can, at minimum get it below 30%, at best, get it below 10%

Reply by
debombe

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Thank you for easing my mind! I was worried I was in for a year of struggle with credit card companies. You have been very helpful. :)

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