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Old account,closed by credit grantor, Should I remove?


Should they STAY or should they GO?  

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I have an old American Express account on my Equifax and TransUnion credit reports.

It does not report any derogatory information, but does state "Closed by Credit Grantor"

The account dates back to 1996. I don't even think the account was mine, I was probably an authorized user on it.

Would it benefit my score more to leave this account because of its age (it's the second oldest thing on my report) or would it be better to get rid of it (dispute) because of the notation "Closed By Credit Grantor"

I know this is not an exact science and I wish we could get hold of the "magic formula", but I would appreciate anyone's suggestions on their experience regarding similar items on their reports.

I also have a Citibank account on my TransUnion dating back to 1995 that is showing as "Open" with 0 balance and "N/A" for credit limit showing "Paid or paying as agreed". Again, I think I was an authorized user on this account back then, but have no other knowledge of it. Should I keep it, or delete it?

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"I do not know anyone who has got to the top without hard work. That is the recipe. It will not always get you to the top, but should get you pretty near."

-- Margaret Thatcher

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I vote to keep them. With no derogatory remarks, "closed by credit grantor" could simply mean you didn't use the card enough and they simply closed the account.

Plus, as DocPC said, your scores will tank. FICO relies on account history very heavily. Anything that can add to that score is especially important if you're looking to get a mortgage.

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No, that's the oldest stuff. I have a couple of other accounts from 2000 or so, and the rest is new stuff from 2003. The only derog I have is a charge off on Equifax only. The charge off should be coming off soon (disputed) because they re-inserted it and re-aged it. Thanks again for your input.

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-Roddy Piper

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