How long will an account stay on your credit report?

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creddit
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How long will an account stay on your credit report?

Postby creddit » Tue Jun 18, 2013 11:40 pm

About two months ago, I was taken off my parents' Exxon/Mobil Citi card account because I no longer need it. Also, it has a bit of a high balance, and I noticed it showing up in my credit analyses on sites like Credit Karma, Credit Sesame, and Quizzle.

Now that I'm off the card, I'm wondering how long it takes for the Exxon/Mobil card to be taken off my credit report/associated with me. Do I need to do anything myself to initiate this process? I was already taken off the card via Citi, it just stays on my credit reports still.


catsartcox
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Postby catsartcox » Tue Jun 18, 2013 11:45 pm

It will show for quite awhile. I would doubt that it would ever be taken off no mater how hard you try.
It is on there to show proof that your were good or bad at handling credit. Does not matter if it is a current line or not.
To that though, if you and your folks performed well with that card you would want to keep it on there. Cause it wold help your score at least a little bit.
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creddit
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Postby creddit » Wed Jun 19, 2013 5:09 am

Well, part of the issue is that they keep running a high balance on the card, since both my parents, my brother, and I were using to pay for gas. So after I realized I wouldn't really need it anymore (I'm moving soon), I asked to be taken off to see if that would improve my report/score.

Would their high utilization negatively influence my credit?

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Postby mdl28 » Wed Jun 19, 2013 8:00 am

Not if they pay in full before statement cycle ends/reports.
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catsartcox
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Postby catsartcox » Wed Jun 19, 2013 1:03 pm

Perhaps. If you carry a good amount month to month it won't help. But I think if you some-how deleted the whole thing off your credit it would lower it still. Assuming you always kept up with your bills, payment history and credit history weighs a little bit more then utilization.

But as I said, since it was a honest line of credit partly in your name. I would doubt they would allow you to remove it.
Wells Fargo w/ Points - 6.2k
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GE Capital Amazon Store Card 5k

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creddit
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Postby creddit » Wed Jun 19, 2013 6:53 pm

catsartcox wrote:Perhaps. If you carry a good amount month to month it won't help. But I think if you some-how deleted the whole thing off your credit it would lower it still. Assuming you always kept up with your bills, payment history and credit history weighs a little bit more then utilization.

But as I said, since it was a honest line of credit partly in your name. I would doubt they would allow you to remove it.


Thanks. My parents always make a payment on time - I don't think they've ever missed a payment, they're very organized - but the balance is consistently at 80-90% utilization. It hasn't been paid down entirely...at least not in my memory. I just worry that the high utilization will affect my score.

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Terry
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Postby Terry » Thu Jun 20, 2013 6:39 am

If you want the authorized user account removed from your report, just dispute the account with the three CB's. Many years ago, I had a similar situation and the dispute remove said entries without any problems within 30 days.
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catsartcox
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Postby catsartcox » Thu Jun 20, 2013 10:45 am

I am surprised you can do that. I thought that as long as it was a legitimate line of credit - with no wrong information you can take it off.
Wells Fargo w/ Points - 6.2k
Discover More - 10k
Citi Forward - 3.7k
Citi Thank You Preferred - 18.5k
AMEX Blue - 16.4k
AMEX PRG- NPSL
Barclay Juniper card/Apple - 9k
GE Capital Amazon Store Card 5k

score
722(7/13) 732(8/13) 734(9/13) 743(2/14) 763(07/14) 798(3/15) 749(4/16)

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Postby jojo » Thu Jun 20, 2013 10:50 pm

My parents added me as an authorized user on two of their cards years ago. After I was removed, the first one fell off my credit report within a year. I had to open a dispute with the credit bureaus to remove the second one. All three accepted my dispute and removed the card.



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