My wife and I are both working on rebuilding our credit histories, with nothing really on them. I havent used credit in a decade, and my wife moved here from England 2 years ago. So to start, we got unsecured cards, she 1 and myself 2. The thing is we both added each other as authorized users on our cards, so its showing as 3 accounts for both of us, and a huge drop in our scores due to too many new accounts. Can cancelling the authorized user cards for each other reverse some of that score drop?
1 Answer
a huge drop in our scores due to too many new accounts
That's fine, this is temporary.
Can cancelling the authorized user cards for each other reverse some of that score drop?
No.
Just use the cards and pay them off in full every month and you will be fine. There's no need to micromanage your credit score until you're in the process of a big transaction that will require a loan, like a mortgage.
