Should I be removed as an authorized user?

Question

I am on two of my boyfriend's credit cards. One that has been closed and is overlimit and another that is at a high limit and that is open. Would removing me better my credit report score and debt status?

Answer 1

Credit bureaus are phasing out using authorizer user accounts in your credit score calculation.  But the account still shows up on your credit file.  

I would certainly want my name removed from those accounts.  Even if it isn't hurting your score, it looks bad on your file.

PS.  Whatever you do, don't co-sign ANYTHING with this guy.  It doesn't sound like he handles finances too well and co-signing would undoubtedly trash your credit eventually.

Answer 2

Although the other answerer seems to be on top of her information, I just wanted to make one correction.  While the credit bureaus were going to be phasing out using "authorized user" information as part of your credit score, they did change their minds and everything is going to continue on as it was before.  You can check my source, here.  (http://credit.about.com/b/2008/07/31/260...  Or, you can simply google the term "authorized user, fico score" to see the articles.

You do not want to be an authorized user on accounts in bad standing.  As much as it helps your credit to be on an account in good standing, it hurts to be on when the account is delinquent.  Right now, while you're still listed on his account, whatever he has for debt shows as your debt, too.

If you remove yourself from those accounts, you will see an almost-immediate spike in your credit score (assuming those were more or less the only negative things on there.)

Answer 3

It will not change either for the foreseeable future.