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Minsch2011

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Should I sacrifice age of credit for credit utilization?
When I had a bankruptcy a few years ago, I was added as a "responsible party" to one of my father's credit cards. Since my credit has been improving, I have several lines of credit of my own, none more than 2 years old. My father's credit card shows for almost 20 years, but he keeps a much higher balance than I do on all of my other lines of credit put together. Roughly 70% of his available credit on that account. Should I cancel this "responsible party" stuff so that my credit utilization is low, or should I stay on it and keep the age of credit?

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keep the account for a few more years since your age is so low then cancel if you wish once your personal cards hit 5 years otherwise since its 20 years old that will hurt you more then a 70% utilization......or better yet since its your dad and your credits are now intertwined pay some of it off for him every month essentially helping both of you....those are you options I would reccommend the first though

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