[Jane91]

Hoping some of the experts here can answer a quick question on credit reports...

When I was a teenager my parents made me an authorized user on their Hudsons' charge card. They still have the same charge card (have had it for more than 40 years in fact), and my credit report still lists that charge card on it with the note I am an authorized user.

On my "positive" summary of my credit score, one thing included is that I have had a charge for more than 40 years (longer than I've been alive).

The whole thing seems a little silly to me, and I would like to remove myself as an authorized user from my parents' charge. But would this negatively impact my credit score? My oldest other credit card is about 13 years old.

 

[hollytheteacher]

I'm not sure...are they still using the card? I don't think it is "helping" you unless they are still actively using it and paying it off...so if they are not using it and you get your name taken off (therefore "closing" it on your credit report) I don't think it would "hurt" you . Especially because your other card you've had for such a long time as well.

I'm no expert though

 

[sanguine_speed]

Aren't credit reports mysterious?

I once paid off a big credit card and my score dropped. I spoke to a manger at the credit bureau who explained that even though yes, having low balances on credit cards generally improves a credit score, when you make large lump sum payments, your credit worthiness decreases because you end up paying lenders less interest.

Which is to say, you're going to get different answers from different people. Even professionals can't always agree.

If your credit score is not precarious and you can spare a few points for a while, just close it and see what happens. Some will say it's better to have the history, others will say closing it makes no difference. No one can tell you with certainty until it's done, and then it's too late to make another choice

:.

These scores are 'proprietary' y'know

 

[Jane91]

Thanks!