- 5 years ago
- Wedding: August 2012
I am looking at my credit report. To my surprise, I have an open/current account with a bank that is from 1994! However, it’s opened jointly with my mother (I was a high school senior at the time). It only has a limit of $250. I am not even sure what is it (credit card, credit union, etc).
I do not want to have anything jointly opened with my mother – after all I’m 36!
Should I keep it open? Should I write to remove her name?
The next oldest card I have open is from 2005.
I heard on Suze Orman that closing the oldest account only affects you 10% really – not as devastating as people usually think. And if I don’t really plan to need my credit any time soon (we already have a house, etc), then I could probably reclaim that 10% when we need high credit again? Hypothetically?
PS, I’m in the 780 range as is.