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brewmastr

Authorized User Tradelines

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So years 5-7 years ago when I was in the process of rebuilding my credit I had my mother put me as an authorized user on 2 cards on her credit to help boost my score while i rebuilt my credit. Today those lines are still reporting and one is showing a 5k balance and the other a 4k balance that is hurting me in the process of getting a mortgage. Can these be excluded because they are technically not mine or should I get myself removed as an authoized user? The only reaon im hesitant to do remove myself is im not sure if it will negatively impact myself in terms of age of account. I have a lot of other credit accounts now that have and my score is in the mid 700's on all 3 reports but those are the longest accounts on my credit history.

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are they hurting your DTI? is your DTI that dangerously close?

 

you can have her remove you from them but as you suggest it may have a deleterious effect on your FICO scores.

 

you could pay mom's cards off for her and ask her not to use them until you're closed.

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Yes DTI. I was informed to maximize my purchasing power to pay off as much as I could. Homes are quite expensive here in the PNW and I am single. I have a car loan of 30k and a personal loan of about 13k right now and with credit card debt on top of it, my pre approval is only about 300k, if i could even somehow bump that to 320k that would greatly open up my options in the area. I am looking at doing FHA 3.5% down. Really it would be nice if I could get someone to sit down and give me a road map on how to make this plan happen but the 2 banks I have talked to have been quite short with me and offer no real assistance or guidance.

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A competent lender SHOULD realize that, as an authorized user, you have no contractual responsibility.  As such, those amounts should not be impacting your DTI ratios...

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Every lender I have talked to, said they 100% will include AU accounts in DTI calculation. 

 

From my experience, the AU account will stay on the report for at least a month after being terminated, and will show as “terminated”. So they would have to exclude that from DTI calculation but for a while at least, you won’t lose the account age. 

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