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The best way is to cut it up and close the account.
If you want credit for a mortgage, manual underwriting does not look at FICO FICO is generally the accepted practice for unsecured consumer debt. Don't go there.
FROM daveramsey.com
Ask Dave
Debt: Credit Report
No Credit Score?
Question:
Seth and his wife have no credit score and they can’t get a mortgage through their local bank. What can they do?
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Answer:
1) Hear what Dave says:
On-air call from The Dave Ramsey Show - 4:19 secs
2) Read what Dave says:
It sounds like you’re going through a bank that uses the Beacon Score to decide whether you can get a mortgage. Someone who knows nothing about lending can look at that score and decide to set up your mortgage by using the Beacon Score.
Since you have not purchased anything on credit, your Beacon Score is probably close to zero, and they will not give you a mortgage with that kind of score. You need to find a lender who will look at more than just a stupid score to determine if you should have a mortgage. This is called manual underwriting. They will look at your job, your income, the fact that you have a huge down payment. They’ll probably find out that you’re a lot more likely to pay off your debt than the normal American with car payments, student loans and tons of consumer debt.
Bankers used to use common sense to loan money for a mortgage, but now they have to take everything to a committee and reduce mortgages to Beacon scores. Branch managers aren’t allowed to make judgment calls anymore.
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