Need some advise!

Discussion in 'Financial Planning' started by bradfordrodgers, Nov 6, 2005.

  1. Ok here is my dilemna. Back in 2002, I was new in the credit arena. I
    had literally no credit score. So, my mother added me as an authorized
    user. About a year later,it did help me to aquire a mastercard, good
    year card, target and mervyns charge card for a total credit of about
    2,000 dollars.
    The problem is my mother got sick and maxed out her credit card of
    about$7,000 dollars. And it reflects on my credit score(630) with an
    extreme high balance. If she took me off as an authorized user, would
    this help or hurt my credit?

    Would appreciate some input

    bradfordrodgers, Nov 6, 2005
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  2. I think you need to get your name off of this card no matter
    what the impact to your credit record. Depending on how you
    were added, it is possible that if she stops paying the bill,
    they could come after you.

    John A. Weeks III, Nov 7, 2005
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  3. You are probably right. I do help her with the payments. ALthough she
    makes only the minimum of 230, which will rise to 280 this december
    because of new regulations.
    If I got off as an authorized user now, since my credit relatively
    young, could it hurt it?
    Whatever I beginning t think the concept of an authorized user is
    dangerous one
    bradfordrodgers, Nov 7, 2005
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