08-21-2012 03:57 PM
Hello. I guess I didn't realize this but I had applied for a CC when I was in college with my name in the first position and added my mom's name to the application just in case I was turned down. After receiving the card I just went about my business for the next 15 years until my mom, while doing a credit review, wanted to know if I had a card in her name. I called my company and they advised that she was listed on my account as a joint holder from the time of original application. So I tried to get her removed, no dice.
So I just paid off the balance and it has sat unused for the past 6 months while I ponder what to do about it. Will this be damaging to her credit in any way if I leave it open but don't use it? Is there some obligatory amount I would need to charge now and then to keep it from being closed? I absolutely do not want to use it anymore, ever, but it is the longest account that I have by far so I also don't want it to cancel. We are both incredibly responsible with money so I don't see it being a problem (and she has never had a card of her own from the account), but we live in different cities and I just think that it's odd to have this link to each others credit history going on. It's really not fair to her.
So.. keep it open? Or let it go. I did have a card close once from inactivity of just over a year -- is there some kind of threshold or is that purely discretionary?
any advice is helpful! thanks
08-21-2012 04:13 PM
No damage to credit. In fact it will be helpful to both of you. This is assuming it stays at 0 utilization and continues to age. Which bank issued this card? They won't transfer responsibility solely to you? Also is there an annual fee? One way to keep it active is to put small recurring payment like Netflix. Then have a auto payment go out the next day so the card remains active and does not report a balance. You might need to push payment as opposed to using credit card's auto payment solution as a lot of the auto payments will only do so after a statement is generated.
08-21-2012 04:28 PM
I would leave it open and set up your recurring charges on it, as long as it has no AF.
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