A very popular way many people start building credit is by first getting added as an authorized user on their parents, spouse, friends, etc credit card.
Getting added as an authorized user is a great way to jump start your credit (you can find many more details in this post).
But as time passes and you establish your own credit history it’s recommended for you to get off that authorized user card. Why? Because the same way being an authorized user helped you build credit, it can damage your credit as well. How so, if the primary borrower is late on the payments or if the primary borrower carries a high balance, all this will affect your credit score as well, being that you’re an authorized user on the account.
When should you cut yourself off from being an authorized user?
If any of the following happens then it’s time to go:
- You already have 12 months of your own credit history
- The primary cardholder made a late payment on the credit card
- The primary cardholder is carrying a high balance
- You no longer trust the primary cardholder
How To Properly Get Yourself Removed From Being An Authorized User
Here I will teach you in a step by step manner, how to properly remove yourself from being an authorized user and how to get the account entirely off your credit report.
Step #1: Call the bank customer service to remove yourself from being an AU on the account.
Step #2 : Call the bank and ask to speak to the credit reporting department and tell them that the account they are reporting is not yours, the balance is not yours, and you are not in charge of making the payments, so they should please remove it ASAP from your credit report. Make sure you also ask them to mail a letter to you confirming that they agreed to remove it from your report.
Phone numbers to bank credit bureau departments are:
Capital One: No direct line. Ask a representative to put in a request.
Citi: Fax a letter to them at 1-866-713-5028 with the requests stated above. (If you need a draft letter then email me at firstname.lastname@example.org and I will send one to you.)
Bank Of America: No direct line. Ask a representative to put in a request.
Discover: No direct line. Ask a representative to put in a request.
US Bank: No direct line. Ask a representative to put in a request.
Wells Fargo: No direct line. Ask a representative to put in a request.
Step #3: Monitor your credit for the next 30 days, (you can do this very easily and for free on Credit Karma or WalletHub) and make sure that the AU account disappears. The mark terminated is not enough. It needs to entirely disappear. If it does not disappear within 30 days, then repeat step two again.
If you are applying for a mortgage, once you have the letter from the bank that they agree to remove the AU account from your report, then just ask your mortgage broker to do a rapid rescore. After the rapid rescore is done, your credit file should automatically update within 48 hours.
I was wondering if I remove myself as an authorized user does that mean that I can’t use the card anymore?
I want to remove myself as an authorized user but Capital One requires the primary card owner to also ok my removal and they refuse to. Can I get it removed from my credit report anyway? Haven’t had a card for the acct that wasn’t expired in over 3 years.
Fife a CFPB complaint against Capital One
Googled it, Consumer Financial Protection Bureau! Got it, thank you : )