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Another question
My DH has a credit score in the mid 600's. Most of his debt is student loans(26,000) and some cc debt(9,000). Some of that 9,000 is actually mine because he is an authorized user on the account. He is on 2 and the total debt is 3000. We are trying to improve his score so we don't know if taking him off as an authorized user would up his score or hurt it. It would show less debt which is good but also less credit. That would leave him with 3 cards with total balance of 6,000-one of which is actually a closed account that can't be used anymore(store card that was bought by another company and all the cards where closed).
Advice please? Leave him on or take him off. The two he is on are cut up and wont be used anyways since we are working to pay off all debt right now.
Re: Another question
It depends on a few things. Here are some things to consider, in order from most important to least important (according to CreditKarma): 1) You should figure out his debt-to-credit ratio now and if you were to drop him (total debt/sum of all credit li
"You know you're in love when you don't want to fall asleep because reality is finally better than your dreams." - Dr. SeussWhat is the allowable limit on the cards? You do NOT want to charge more than 15% of that limit to get the best score. Even better is to not carry a balance at all and pay off the card every month.
Work to get rid of the debt.
Y
I think it may be best just to leave him on and work on paying off the debt. Taking him off won't necessarily take it off his credit report, and it's not always good to close accounts. The only sure way to bring his score up is to widen that debt to cr