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Leave unauth store card open or close it?

Frequent Contributor

Leave unauth store card open or close it?

Long story short, I got home today to find that my mother opened a crappy store card in my name today to save some "x" percent off her purchase (without asking me).  I have a somewhat high utility (~30%), so I wanted to keep my inquiries to a minimum (no lates/delinqs either).  I only have one other inquiry that I know of from this year (for my Amex PRG).

 

The only reason I'm worrying about this is because I plan (or at least PLANNED to) apply for both an Amex BCP and a US Bank Cash + in January.  I know opening new tradelines lowers your score, which is why I'm freaking out about this moreso than I would normally.  My FAKOs are CK 754 and CS 765 (at least, prior to this new account).

 

Also, is it better to just close the account once the first statement cuts?  Or should I sock drawer it until they close it for inactivity?  She opened it at an Avenue store and I never shop there (I'm not plus sized).  She has her own account with them, but decided to open one because the salesperson persuaded her to.  Very frustrated with dear mom at the moment.  Advice?

 

 

Back to gardening as of 01-02-17.. 800+ across all three (via FAKOs) has been achieved! 5 INQs currently Smiley Happy
Message 1 of 7
6 REPLIES
Moderator Emeritus

Re: Leave unauth store card open or close it?

Store card so I'd assume no annual fee.  Sock drawer it.  You've already taken the hit for the Inq and the AAoA, so cancelling it would do no good.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 7
Valued Contributor

Re: Leave unauth store card open or close it?

im sorry but that must have been one presuasive sale person to have your mom open a card in your name to save xx percent.... 

 

but yeah sd and that's it... unless you want to contact the ca and dispute the inq since it really wasnt you. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 3 of 7
Frequent Contributor

Re: Leave unauth store card open or close it?

Will do once it arrives in the mail (or maybe just shred it, not sure yet Smiley Happy )

Do you think this new inquiry will hurt my chances at approval for the BCP/Cash +?  I'd like to think I'm a good contender for the BCP, since I will have had an Amex revolver for 6 months with no lates & paid consistently.  I have no clue about the Cash + though.

Back to gardening as of 01-02-17.. 800+ across all three (via FAKOs) has been achieved! 5 INQs currently Smiley Happy
Message 4 of 7
Valued Contributor

Re: Leave unauth store card open or close it?


leoment wrote:

Will do once it arrives in the mail (or maybe just shred it, not sure yet Smiley Happy )

Do you think this new inquiry will hurt my chances at approval for the BCP/Cash +?  I'd like to think I'm a good contender for the BCP, since I will have had an Amex revolver for 6 months with no lates & paid consistently.  I have no clue about the Cash + though.


im kind of jealous of your chase 5k? is it the sig version? 

 

and honestly it wouldnt matter i still think youll be fine. 

since you already have a relationship with amex if denied it will only be a soft pull... so good to go. 

ill be apping 1st of the month and expecting a denial due to higher util then usual but going to try and pay it off before then.... 

 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 5 of 7
Valued Contributor

Re: Leave unauth store card open or close it?

You may want to freeze your reports.  If you dont want it you can try to see if they would be willing to erase the HP and the new account.  If not, and if you dont want to file charges against your mom for fraud then I would SD the card and have a very serious discussion with your mother regarding credit.

 

Ive personally seen this kind of thing turn ones life to hell.  Clear up your credit by going after family members for criminal acts is never a good thing.  (though it can be necessary sometimes.)



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Message 6 of 7
Moderator Emeritus

Re: Leave unauth store card open or close it?

I would agree with freezing your reports at this point...

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Message 7 of 7