I got approved for a Capitol One credit card, but the interest rate is 24%. No way I'm using that. If I don't activate the card will it be as if I've never gotten the card, or will I have to take a hit on my credit score by canceling? Do I have a time limit to cancel before it effects me? Just applied today.
As previous posters said, you may as well use it, and pay in full if you can. If you decide to close, it will remain on CR for 10 years from closure date. Whether you use or cancel, there is no time limit for it to not affect you, as all 3 of your bureaus took the inquiry.
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