- Green Member
- Posts: 5
- Joined: Sat Jan 05, 2013 1:46 pm
- Location: Los Angeles
My issue is a bit unique. Unbeknownst to me, my mother opened a credit card with Citi in both our names using my social security number. This was because her credit is deplorable and mine is in the 730s. She maxed it out soon after and has been paying the monthly minimum balance ever since. There is a grace period for the interest as it is a new card.
I recently learned of this when checking my credit report, and to spare you the tale of the aftermath for my being infuriated, I have no choice but to pay off the balance before the grace period runs out and negatively affects my credit score.
My question to you is, as I never wanted this card to begin with, after paying it to zero and closing it, will that affect my score? I've heard it said that closing a card erases your credit history with that product to some extent, which honestly is exactly what I'd like to have happen with this card. I hate the idea of having a maxed out card in my report, and would like that history erased once I pay it down and close it.
Any suggestions or ideas to help alleviate some of the anxiety this whole situation has caused me?
Wells Fargo Platinum Rewards Visa 4.8k 6/09)
CapitalOne Platinum MasterCard $1000 (2/10)
American Express Green Card NPSL (11/12)
Wells Fargo Personal Line of Credit 5k (6/12)