Does opening and declining offer harm you?

Rhaeny · ‎01-13-2013

A friend of mine applied for a Paypal MC. He said that a message told him that he had to call some number to csr and they had him get a verification number, blah blah blah. After all of this he wasn't approved for the Paypal MC but another type of Paypal card (I assume its only for paypal transactions). He said that now that he thinks about it he doesn't want it. I told him he might as well keep it open and just let it sit but he doesn't want to do that. Now if I'm not mistaken I believe that card is issued by GECRB so he has a chance to get higher limits.

So now, what happens if he calls them back and says he doesn't want it? Does an account show on his report as opened and closed? If he keeps it does anyone know if that card will report to all 3 CRA's?

I really think since he took an hp for it to just keep it and SD it because that's what I'd do. I guess he is having app'ers remorse...LOL. But I just want to make sure I've covered all bases here.

jsucool76 · ‎01-13-2013

Chances are he got paypal smart connect. I would suggest he keeps it. It can be used anywhere mastercard is accepted, reports just like a credit card, and is even eligible to earn 1% cash back.

All he has to do is order a paypal debit card and the debit card will automatically pull funds from smart connect and it is basically a credit card.

pizzadude · ‎01-13-2013

@jsucool76 wrote:
Chances are he got paypal smart connect. I would suggest he keeps it. It can be used anywhere mastercard is accepted, reports just like a credit card, and is even eligible to earn 1% cash back.

All he has to do is order a paypal debit card and the debit card will automatically pull funds from smart connect and it is basically a credit card.

+1. It is very easy to make PayPal SmartConnect work like a credit card if you do this.

Even if he declines the card, or chooses not to activate, it will still appear on his credit reports.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

Rhaeny · ‎01-13-2013

Okay thanks all. I will tell him about that feature as that may make him want to keep it. PLUS if they are going to report it, and IIRC when I got some of me GECRB accounts they reported real fast, he might as well take it and hold it for a year even if he just SD the card.