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wibadcredit

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Closing out oldest CC with bad history?
I have a credit card that i had for quite a few years during college years (9 years old). This CC was mainly used during college and has had a zero balance for 4 or so years. Problem is, there were many delinquent payments on it as i was irresponsible during those times. It has been "deactivated" for a number of years, but still open with a $0 balance. I have left it open just because it is my oldest card and it keeps the credit utilization aspect lower. I have many active student loans that are around 6 years old as well.
There is no fee to keep the CC open, but that particular CC had a bad payment history from when i was in college. I believe it has another year or two before the "7 year" mark of a late payments.
Would it be best to just close it out all together? or is keeping the account open still helping my score with utilization and history? I am in the process of rebuilding credit and paying down student debt (660 score) - but looking to buy a house in the future and want as much improvement as possible.

Thoughts? Thanks.

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Top Contributor
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The derogatory/late-payment marks will remain on your credit report even if you close the card. May as well wait it out and let the missed payments fall off the report.

Top Contributor
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3193 People Helped

Keep the Card open and ride it out,  after 7 year or less the late payments will drop off. 

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