I applied long back for a chase credit card and they didn't approve instantly and all this time, I was waiting for it. I got 2 other cards approved and activated. Yesterday, I received the new chase card and I am thnking that I will not use the card. My question is what happens if I don't activate the card at all? Will it be cancelled. Wll my credit history be affected by this?
The account is already open and reporting to the bureaus. Activating it is merely a formality to enable you to use it for purchases. Many companies will automatically activate it after a certain period of time (scary, huh?) anyways. Just shove it in a drawer.
ScootyPuffSr
Senior Member - 2K
posted: Apr. 3, 2007 @ 12:54p
credit report wise, the same thing will happen (i.e. it will report the same whether activated or unactivated)
however, the CC issuer may keep sending you new card after new card believing the previous one got lost in the mail
do yourself a favor and take the 30 seconds to activate it (at the very least to prevent the risk of them sending you multiple new cards in the mail) then cut it up in little pieces
dealinmydays said: My question is what happens if I don't activate the card at all?
The bank will put their security guard on a plane, with a google map to your house, a cell phone, and a pen... He will wait in the shadows until you come home one night then FORCE you to call the activation number from your home phone, then hand you the pen and FORCE you to sign the back of the card.
He will then use his cell phone to call back to the issuing bank, and verify that you have activated the card.
He will shake your hand, tip his hat and be off (don't offer him a beer, he is on duty!).
You didn't apply for the credit card specifically, you applied for a credit account. The card is merely a link to that account. Your credit account still exists and will report to the credit agencies.
Technologist said: swandown said: These kind of questions should be in a FAQ somewhere.....
they are... it is called common sense, and it can't be taught! And its not so common either.
Sham03
Member
posted: Apr. 3, 2007 @ 10:16p
I received a credit card from US Bank (after signing up for a checking account), but the card has a $40 annual fee. I didn't activate it, thinking that was the end of it. While checking my credit report last week, I notice it is on my report as open. They gave me a credit line of $7,000, and since I haven't used it, it reports me as having payments on time.
What to do? Will I be billed for the $40 annual fee?
WalStMonky
Happy Member
posted: Apr. 3, 2007 @ 10:22p
swandown said: These kind of questions should be in a FAQ somewhere.....
How do they decide which questions to put into an FAQ?
Sham03 said: I received a credit card from US Bank (after signing up for a checking account), but the card has a $40 annual fee. I didn't activate it, thinking that was the end of it. While checking my credit report last week, I notice it is on my report as open. They gave me a credit line of $7,000, and since I haven't used it, it reports me as having payments on time.
What to do? Will I be billed for the $40 annual fee?
Wait, I have an idea!
You could...
...wait for it...
...close the account!
tooligan
Member
posted: Apr. 3, 2007 @ 10:53p
as much as i hate replying to these types of threads (not in the question thread); I have a strange comment to add.
I recently applied (and was approved) for a target card (yes i know, dept store, but i was buying 4K worth of stuff and the 10% was worth the hard pull). anyways, i forgot to activate the card (got it back in December), and to this day, it has not yet reported to the bureaus (i use truecredit, pull every day). I just remembered to activate it last week so we shall see if that triggers it reporting.
i was pretty sure once you get it, it reports (had a visa that was sent without my unit #, only discovered I was approved for the card when it reported, had to call and get it resent). So i guess, who knows.
damn you guys are sarcastic and vicious w/ these people lately. they need help more than anyone else, not everyone has been on FWF for 5 years and is a veteran at all things related to finance. lighten up a bit and take the high road by answering the question or contributing something valuable instead of tearing at a carcass like a pack of hyenas.
nfg05 said: damn you guys are sarcastic and vicious w/ these people lately. they need help more than anyone else, not everyone has been on FWF for 5 years and is a veteran at all things related to finance. lighten up a bit and take the high road by answering the question or contributing something valuable instead of tearing at a carcass like a pack of hyenas.
As much as I agree with you, some of these replies are to die for! Technologist you are my hero.
nfg05 said: damn you guys are sarcastic and vicious w/ these people lately. they need help more than anyone else, not everyone has been on FWF for 5 years and is a veteran at all things related to finance. lighten up a bit and take the high road by answering the question or contributing something valuable instead of tearing at a carcass like a pack of hyenas.
Here is a chill pill, I suggest you take it.
The 1st 2 responders and the 4th answered the OP's "many times asked" question.... after that, the fun begins. And it is lighthearted fun, not attacks, a pack of hyenas, etc.
rizzleness said: As much as I agree with you, some of these replies are to die for! Technologist you are my hero.
Thank you... after a comment like that, my job here is complete!!!
DiabloD3
Senior Member
posted: Apr. 13, 2007 @ 10:04p
Following up on the OP's question, what happens if you do close an account that was just opened? Will that just lower your FICO score? Or will it not actually matter?
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