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Can you decline a credit card after being approved?

New Contributor

Can you decline a credit card after being approved?

I'm thinking of applying for two cards and taking whichever one gives me the higher credit limit. I don't mind having two hard pulls on my credit report since I have no anticipated loans/mortgages/etc for the next two years. If I apply, and am approved, for both cards, is there a way for me to subsequently decline their offer following approval without the credit card appearing at all on my credit report? (aside from the hard pull)


Chase Freedom Visa: 11/2009, $4,700 CL
Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
U.S. Bank Cash+ Visa Signature: 11/2013, $15,700 CL
Message 1 of 16
15 REPLIES
Moderator Emerita

Re: Can you decline a credit card after being approved?

Probably not, some lenders report within a day or two and they are under no obligation to remove a TL.
It goes without saying that you could also receive two HP's without an approval.

Message 2 of 16
New Contributor

Re: Can you decline a credit card after being approved?

Don't I have to accept some T's & C's before accepting their offer, or did I already do that when I applied? I would think that you have to "accept" an offer of credit before it formally becomes yours.


Chase Freedom Visa: 11/2009, $4,700 CL
Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
U.S. Bank Cash+ Visa Signature: 11/2013, $15,700 CL
Message 3 of 16
Super Contributor

Re: Can you decline a credit card after being approved?


09Lexie wrote:
Probably not, some lenders report within a day or two and they are under no obligation to remove a TL.
It goes without saying that you could also receive two HP's without an approval.


+1

Agreed 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 16
Moderator

Re: Can you decline a credit card after being approved?


09Lexie wrote:
Probably not, some lenders report within a day or two and they are under no obligation to remove a TL.
It goes without saying that you could also receive two HP's without an approval.


+1.

 

To the OP, why even apply for two cards if you only want one?  I think it's better to go for the one you'd prefer and work on a CLI later...or recon the initial CL



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Message 5 of 16
Established Member

Re: Can you decline a credit card after being approved?

I've got a Chase card reporting on my account as open for 8 months that I applied for then declined to use because of the rate/limit.  I am going to try to get them to remove the TL, as it's affecting my AAoA, but the fact that I didn't ever accept/activate/use the card didn't stop them from reporting it to the CRA's.

Message 6 of 16
Moderator Emerita

Re: Can you decline a credit card after being approved?

Once you hit 'submit' you have accepted the terms and conditions.
Message 7 of 16
Established Contributor

Re: Can you decline a credit card after being approved?

Yes you can with Discover. I applied after receive pre-approval offer. I called immediately asking for limit,they told me 800$,so i asked them to go ahead close my account, the rep reassure me that the TL will not appear on my account . and it did not appear on my account.
Message 8 of 16
Senior Contributor

Re: Can you decline a credit card after being approved?


bigbang91 wrote:
Yes you can with Discover. I applied after receive pre-approval offer. I called immediately asking for limit,they told me 800$,so i asked them to go ahead close my account, the rep reassure me that the TL will not appear on my account . and it did not appear on my account.

Your scenario may be the exception to the rule as is in some cases.  Not all lenders will remove a legitimate tradeline that you have applied for.

Message 9 of 16
Senior Contributor

Re: Can you decline a credit card after being approved?


maddox74 wrote:

I've got a Chase card reporting on my account as open for 8 months that I applied for then declined to use because of the rate/limit.  I am going to try to get them to remove the TL, as it's affecting my AAoA, but the fact that I didn't ever accept/activate/use the card didn't stop them from reporting it to the CRA's.


As Lexie mentioned previously, and if your read the fine print (which is quite large if you ask me), clicking submit (and checking the box) indicates your acceptance of the T&C.  Therefore, that is a binding agreement.  You can close it if you don't want it down the road but that doesn't mean the lender is obliged to remove it.  It doesn't matter if you don't activate the card and don't use it.

Message 10 of 16