Re: Open Accounts

My credit score is lowered due to my name being on my parent’s credit cards. I’ve had them take my name off and it didn’t do anything to help raise my score.

posted

Having more credit available to you to use is both a good thing and a bad thing. If your parents carry balances, then it makes it look like you are carrying balances and are closer to your limit (your utilization is high). But if you are removed from their accounts, then you available credit is less, so your utilization may still look high. It's probably better in the long run to be disentangled from your parents.

Also, are you sure those accounts no longer show up on your report? Remember Turbo only polls one bureau and there are two others. It may take a couple months for all the changes to propagate across all the systems.