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Once your lease has expired, your
status as an Authorized User will be removed from the credit card(s). However,
most credit card companies tend to leave the account history on your credit
report for a period of six months to several years.
The long-lasting benefits of these
accounts give you the ability to access more favorable financing and employment
options. It will also make it easier to continue improving your credit score
over time, though you may be able to continue making improvements while paying
lower interest rates than you were previously.
It is important to note that the
credit card company may remove the information from your report as soon as you
are removed as an authorized user. In that regard, it is often best to avoid
procrastinating if you were hoping to qualify for a new line of credit on your
own. If your intention is to continue improving your credit score, then the
loss of the credit card(s) from your credit report will have a less notable effect
on your plans.
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