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Authorised User question when they run up the card


dustman
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Hello, I have a brother who has had me as an authorised user on his AMEX card for 3 years. never late payments so thats good. However the limit lists as 0 and high credit was 11.5k and it has 10k balance on it so its pretty much maxed out and he never pays it down. How much is this hurting my credit score?

I have lots of other positives like mortgages never late and car payments and my own caards never late. However i DO have 1 collection. Would it HURT or help to remove that account from my credit file. I heard authorised users fall right off upon disputes.Id hate to lose the history BUT its dang near maxed out all the time.

EX EQ TU

640 607 597 FICOS

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Well, chances are good that it's a net negative for you. Of course, that depends on your overall credit profile. If you have no revolving credit of your own, or if all your revolving credit is under 2 years, then I guess it's possible that it's not a negative. What is your overall utilization? What other revolving credit do you have? My guess is that you should just get off the card.

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Is the account a Revolving or an Open account? When most people say Amex, they are usually speaking of the charge card, which must be paid off in full each pay period. That is an Open account. Those type of accounts don't factor into utilization calculations.

If the account is a Revolving, a CREDIT Card, (meaning that your brother may pay only a portion of the balance and revolve the remainder over from month to month) then you will need to weigh the benefit you receive from the age of the account against the damage being done to your utilization. You also want to consider your current situation. While it's nice to constantly carry a high credit score; if you are not going to borrow money any time soon, there really is no need to be concerned with that abitrary number.

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As a previous poster said, it depends on what other cards you have on your own. One thing that is currently keeping my score down is that all of my cc's are low limit. Havig higher limits helps your FICO. I would consider leaving it until you get a couple of high limit cards and then have yourself removed from his card.

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