thanks for the great resource! I have recently found your site and love it so yes im a newbie! I have a question regarding open credit lines on your credit report. What do you do with old lines of credit that show up on your CR that are not active. I have a couple accounts i have not used in years and they show up as open. How do these affect me as far as credit goes? should i worry about getting them cancelled? also i have two things on my report that show and are actually accounts i was an authorized signer but owner of. how do i proceed please help! thanks in advance.
If they're positive accounts, leave them be--all of them. If they're negative, post some details so we can help you. The only reason I'd worry about them if they're positive would be if they are large lines of credit and they're impacting your ability to get what you want.
yes that is my concern they are all positive meaning they are all showing up to date and have no balance but there are many of them and have some large availible credit lines. there are a total of 7 totalling around 10,000 in open account credit. Two of them i have no clue what they are from. Once again how does all this open credit effect me when people look at it? thanks for the replies and thanks in advance again for any further help.
Never, ever, ever, absolutely under no circumstances whatsoever.......delete a positive trade line. These trade lines that are showing as open and with a high available credit do two good things for you. First, they keep your ratio low and secondly, they show you as a responsible credit consumer. I've known some people who would go out of their way to delete good but old trade lines only to end up with the bad, but current trade lines left on their report. Guess what happened to their score? I have a trade line showing that couldn't possibly be mine, as it shows opened two years before I was even born. But the 42 year trade line is positive and helps my score because of the age of the account, so there is no way in this world I would delete it. Just my two pesos! MrKee
heres what you do... YOU GIVE THEM TO ME. LOL. seriously tho, leave them alone. 10,000 is a nice amount. not so much that future creditors become uncomfortable with your potential to 'get in over your head'. You're very lucky to have those.
I agree. $10K isn't that much, and your ratios should be great. Now if it was $100K, I might think about disputing it and getting it deleted.
