Closing a brand new card

[Cotton_Britches]

I applied for and was approved for a Mastercard with Household Bank, but I don't think I want to keep it - low credit limit.

If I cancel the card once I receive it (it's in the mail) will it show up on my credit report as a closed account or not show up at all if I don't activate it?

[Anonymous]

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@missypants wrote:

I applied for and was approved for a Mastercard with Household Bank, but I don't think I want to keep it - low credit limit.

If I cancel the card once I receive it (it's in the mail) will it show up on my credit report as a closed account or not show up at all if I don't activate it?

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missypants, I understand it is Low CL and you are not happy about it and want to close it.  I believe it does not matter that your card is activate or not, your account is already opened.  So if you call for cancel/close, I think it will show up as closed account. 

By the way ...... My suggestion to you is use that card for at least for one year before close it, becasue you used your SCORE to get this card.    Make and leave the payment history before you close it.

[Cotton_Britches]

I may be able to negotiate a higher credit limit when I call to activate it. Couldn't hurt to try.  

[Anonymous]

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@missypants wrote:
I may be able to negotiate a higher credit limit when I call to activate it. Couldn't hurt to try.  

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How many CCs do you have with them?  If you have one already with them may be you can ask them to adjust the CL for you.

When I got second CC (different than your bank) and called for an activation, I ask CSR to adjust the CL because of my old card's CL is higher than my new one.  They reduced on old one and increased on new one for me.

Good Luck on CLI   (*-* )/"

Message Edited by bunnyrabbit on 02-22-2010 12:23 AM

[smallfry]

You might as well keep the card because you will suffer all the negatives associated with the account whether you keep it open or not. Why not use the card for the occasional internet purchase from Amazon or eBay?

[Anonymous]

Iguess this is one thing that did not make into law I recall talk being to reject a new as long it wasn't activated the required expunge the account from you credit i think awful it did not require make firm offers,

Message Edited by rbbyrbsn on 02-22-2010 11:20 AM

[leah5570]

My husband has that card, and they started him at $300, really couldn't do anything with it. After about a year, he called instead of using the online tool for his account and asked for an increase. The rep gave him an additional $100 limit, now $400, without pulling his report. She said he can apply once every 24 hours for an increase and not pull his report; just based on his payment history. (And I think it was the universal default thing, since no one else reported him, they had no reason to check). Then she said if he had given her a specific increase amount, say he wanted $500 more, they would pull his report and do a full eval. thing. We only took the add'tl $100, and have left it at $400. We are using that to pay our internet bill every month on auto pay, as it is about $30 a month.