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Valued Member
Posts: 55
Registered: ‎09-26-2012
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Closing credit card before first statement....

I just opened up a capital one card and I'd like to cancel it if it means it never shows up on my report. If I cancel it before the first statement will they still report?

Established Member
Posts: 152
Registered: ‎09-17-2012
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Re: Closing credit card before first statement....


Objectivist wrote:

I just opened up a capital one card and I'd like to cancel it if it means it never shows up on my report. If I cancel it before the first statement will they still report?


If you activated it I believe it will. If I may ask why do you want to cancel it after you just opened it? That will look bad on your report I believe if it does show up. At least that's what I heard.

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Regular Contributor
Posts: 155
Registered: ‎04-04-2011
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Re: Closing credit card before first statement....

Back when, I wasn't thinking and accidentally signed up for a Sear's credit card and once I found out it was a credit card, I told them to cancel the request right then and there at the register.  Needless to say I received a statement several weeks later with a $0 balance and a closed credit card.  The account is still listed on my credit report today as closed, so in the event that you do cancel your card, the account will most likely still show up on your reports.


Starting Scores (lender pull 3/27/10): 759 (EQ), 752 (TU), 749 (EX)
Current Scores (myFICO 4/4/11): 768 (EQ)
Goal Scores: 800


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Valued Member
Posts: 55
Registered: ‎09-26-2012
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Re: Closing credit card before first statement....

Good to know. The thing is that I applied when my utilization was high (2 weeks ago) and now it's 1%. They approved me with a limit of 300. Since then i've been approved for a Citi Forward card with a 3000 limit. Plus the annual fee sucks with cap 1.

 

Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
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Re: Closing credit card before first statement....

[ Edited ]

You might want to closed it and edited


Starting Score: 560
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Moderator Emeritus
Posts: 12,886
Registered: ‎12-30-2011
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Re: Closing credit card before first statement....

[ Edited ]

It's against forum policy to recommend disputing accurate information.

 

OP: you're probably stuck paying that initial AF anyway if you've activated the card, why not keep it at least six months so you don't look like a flake to every lender who views your credit report in the future? Smiley Happy  You may as well take the small FICO bump for a seasoned tradeline by hanging onto it at least that long.  You may find a use for it anyway, in my case there's a British clothing manufacturer who's slim fit shirts fit me exceedling well; my average order is around $300 dollars and the no-forex fee C1 (or Orchard in my case) is nothing but goodness there saving me $9 over BOFA's card or $8ish on my Zync.  

 

Admittedly it's somewhat embarrassing to think that as a result of this I can justify the AF on my no-rewards rebuilder card.

 

 

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
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Regular Contributor
Posts: 211
Registered: ‎08-23-2012
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Re: Closing credit card before first statement....

Revelate care to share the british clothing manufacturer?? Hehe
Moderator Emeritus
Posts: 12,886
Registered: ‎12-30-2011
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Re: Closing credit card before first statement....

[ Edited ]

alboto wrote:
Revelate care to share the british clothing manufacturer?? Hehe

Charles Tyrwitt in this case.  I haven't graduated beyond ready-to-wear shirts yet to either made-to-measure or bespoke when it comes to my wardrobe and my current finances / requirements.  The CT slim fit though works awfully well for me other than a quick alteration of the sleeves, and most of the American clothiers (Brooks Brothers et al.) are just too blousy on my Gumby-like frame.  

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Regular Contributor
Posts: 211
Registered: ‎08-23-2012
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Re: Closing credit card before first statement....

I'm going to check them out, I'll definitely need new shirts in my wardrobe now that my new job requires shirt and tie everyday. Thanks
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