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Get off that card now. Then give it a month and see what happens to your score. I was on a car with my mom once as an authorized user and she dropped my score. Once she removed me at went up. You have to give it time for it to hit your score. If you get removed and it's still showing up on there you will have to dispute it though. One of the credit unions didn't update me for some reason and I had to dispute it to get removed. I had previous credit history of my own however. But yeah Definitely get off that and even if you could get a secured card or something in a couple months that can help. Now you have seen firsthand how important it is to keep your balances as low as possible. In 2 years from 18 to 20 I was able to go from no credit to a score of over 700 by paying it off every month. Now I have a balance because of losing a job for a few months but I'm still at 730 and even recently got a car because I have that history helping.
Credit score question
Alright ladies, my parents and my high school never taught me anything about finances so im super confused. Im 25 and my mother put me down as a cardholder on her credit card a few years back, so I ended up getting the same credit score as her. It helped me get a car and a few other things I needed. However, our score use to be at 750 and has dropped down to 620. She has 6k in credit card debt from buying a bunch of unnecessary crap she doesnt need and then wasnt able to pay it off.
Im trying to get a apartment or a house for rent with my bf, but im worried about how the score is going to effect that. Plus I get denied for every credit card I try to apply for. It seems like its dropping more and more each month and im not trying to have crap credit when none of it was even my fault.
So my question is, if I were to be removed from her card, would I be able to keep the current credit score and build it up myself, or would it reset me back to 0? Any advice on how to build it up quickly?
Edit: Thank you all for responding! I have Chase bank so im going to make a appointment for this week and get everything straightened out. I've always talked to my mom before making any purchases using the credit and I always make my payments early or on time so it shouldn't be a problem for me to build it back up. I dont have any loans or anything so hopefully I can get my stuff back up to paar. I appreciate the help and advice from you lovely ladies, much love 💚
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Ka
Also, things like credit karma are pretty helpful for learning about how credit works. however realize that their score may be different than what banks see. Usually credit karma will show you a higher score then what you actually have based on my knowledge. I actually had a different experience, credit karma shows that my score is around 710 but my bank says today have 730 when I got my car in December 🤷
Your score does not just get taken away. It is a good idea to get off your mom's card because the dept ratio could change somethings for you. Do you have any loans that your on there is a lot more to it then just a credit card. It's the age of your credit as well as on time payments and all that good stuff. Does your bank have a financial advisor? Mine does and it's free. Maybe you could set up an appointment to get some more information?
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