Credit card and FICO score question

[Anonymous]

Hello all.  I apologize if this is already answered somewhere else.  If it is, please provide me with the link.  Here is my question:

I just applied for a credit card and was approved.  I got it so that I could use it in emergencies, if it comes to that.  I wasn't sure if I had been approved as my internet crapped out on me during the decision making process and then when I tried (for the past week) to check my status, it said that they had no record with my information.  Right before receiving the card, I checked my WaMu (I know it is now JP Morgan Chase) to see my FICO score.  I understand that the score they give me isn't my actual score (that is what I have been told) but it went up by 20 points from the month before so I am guessing that my score at least went up a little bit. 

Now, with all that out of the way, I am looking to apply for a student loan in the next month or two.  I know my score may have taken a (slight) hit because of them checking when I applied but should I activate the card or return it and make it so that the account was never there?  Which would be better for my credit score?

Thank you.

[Anonymous]

You already applied for the card and received it.  Even if you don't activate it, the inquiry and account will still be shown on your credit report.  I am assuming this is your first card so in any case, your FICO score probably increased since your now having credit and gaining a mixture of credit.  When I received my second credit card, my score went up also just by having it. 

It is good to have a mixture of credit, ie credit cards, installment loans etc.  If that is your first piece of credit, even your student loan probably won't hurt you either.  But now that you do have the credit card, keep it, use it as you will, be smart with it, and collect the history as it will do nothing but help you in the long run.