Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

I need some expert advice for

The last post in this topic was posted 1940 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

My husband's utilization. He has a capital one secured $300 with a balance of $0. He's an authorized user on my secured capital one ($200, balance $0) and has a secured Bell Bank credit card (after 1 year it goes from secured to unsecured and you can add as much as you want) with a $300 limit, $300 balance. I know I lnow. The last few months I was wondering why my utilization has been reporting so high because I pay them off before the statement cut date. Well I called them and found out they send everything to the bureaus on the last day of the month (errrr. Pulling hair out). He has a middle score of 607. We need a 620 for our mortgage. I did the whole scenario thing and shows that paying the balance would raise it to around 627 (still pulling hair out). So long story short question. Since he is an authorized user would it be best to remove him and have it update with the bureaus (I know I can call transunion and they remove within 24 hours), wait til they report at the end of the month, or try to see if they can send an updated balance to the bureaus (I know, highly unlikely). So answers, responses, advice??????

Share this post


Link to post
Share on other sites

They say authorized users don't matter and don't affect getting a loan since the other party isn't responsible for the card. I would leave it as is. The best thing would be to pay the card off and util will go down/score go up.

Share this post


Link to post
Share on other sites

I pay it off every month in full. Now that I know they report the last day of the month I won't have high utilization again report. Hmmm. When I added him as an authorized user on my first card (his first as well) his score jumped. Nothing else changed on it except adding the card.

Share this post


Link to post
Share on other sites

Okay I must've misunderstood. Sounds like you got it down, just have to be careful of reporting times.

Share this post


Link to post
Share on other sites

No NAC, I don't have it all down. I've read to where authorized users aren't really factored in and I'm not sure if that has changed recently or what. It's tough to keep everything straight so I'm thankful for all the comments and advice given by everyone on creditboards.

Share this post


Link to post
Share on other sites

I wanted to update some good news. I contacted my credit card company and discussed about how it was reported, applying for mortgage, etc etc. They said I was a valued customer and that they can't email me an updated balance statement/letter, but they could mail one out today AND they are going to send an update to the credit bureaus. I was, and still am, shocked. All day I was thinking 'what just happened? Did that really happen?' What great customer service. I guess it never hurts to ask and when you think you've been knocked down for the last time, something like this happens and picks you back up and reminds you that You Can do this.

Share this post


Link to post
Share on other sites

I wanted to update some good news. I contacted my credit card company and discussed about how it was reported, applying for mortgage, etc etc. They said I was a valued customer and that they can't email me an updated balance statement/letter, but they could mail one out today AND they are going to send an update to the credit bureaus. I was, and still am, shocked. All day I was thinking 'what just happened? Did that really happen?' What great customer service. I guess it never hurts to ask and when you think you've been knocked down for the last time, something like this happens and picks you back up and reminds you that You Can do this.

 

That's great! Many people start by scouring the FCRA and FDCPA for violations, file disputes, etc., when they never just started at step one: asking politely for what they need.

 

Granted, it's not always going to work, but it's the obvious place to start. Nice work!

Share this post


Link to post
Share on other sites

The last post in this topic was posted 1940 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Member Statistics

    • Total Members
      179,451
    • Most Online
      2,046

    Newest Member
    Touchdowns73
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines