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beckyk21787

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should I have the card that my dad opened for me in college taken off of my credit report?
In 2003 my father gave me a credit card that was linked to the family account, and he made regular payments on it, which helped establish credit for me. I was very easily approved for my first card in 2007 (with a $3500 limit), and a subsequent one in 2009 (with a $5000 limit). Both gave me offers to raise the limits after a year, so I now have a total of $12,500 in credit available to me, but I carry a maximum of a $1000 balance. To give you a complete view of my credit score, I also have $24,000 in student debt, a $19,000 car loan, $12,000 in savings, and a history of paying all bills - utilities, cable, etc. since 2009 when I graduated college.)

That family account is still listed on my credit report, though my card was closed in 2009. That card has a $24,000 limit and my dad carries about a $4000 balance. It's been open since 2003 and he has always made regular payments. Would it HURT or HELP my score for me to close it? I'm currently at a 740. Thanks!!

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