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Are applications binding?

New Contributor

Are applications binding?

Hey guys,

 

Just wondering, say I applied for a Platinum card. But then decided I dont want to pay the AF, can I simply not activate it? Can I simply just call and cancel?

 

Thanks,

 

Michael Vera

____________________________________________________________
EQ FICO - 710 as of 10/28/2010

700 Club
3 REPLIES
New Contributor

Re: Are applications binding?

You can call and cancel but not activating won't cause you to not get the fee, so you need to call. Also it may still report as a tradeline since you did open the account.

Starting Score: 720
Current Score: EQ 752 TU 753 EX 749 PSECU
Goal Score: 800


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Senior Contributor

Re: Are applications binding?

Activating a card is just a security measure to see that you got the card in the mail.   More often is a way to give you a sales pitch for all the high priced extras they sell.

 

It has nothing to do with opening or closing a credit account.

Valued Contributor

Re: Are applications binding?


evohuntinwrx wrote:

Hey guys,

 

Just wondering, say I applied for a Platinum card. But then decided I dont want to pay the AF, can I simply not activate it? Can I simply just call and cancel?

 

Thanks,

 

Michael Vera


 cancelled    First Premier the day I got it.  Cancelled ok but

is still  reporting to CRA's.