11-02-2012 09:29 AM
I applied for Target REDCard credit online last night and got approved for $300. The card is coming in 7-10.
I was expecting a CL of $1000+, and I want to know if I close the account without activating it, what effects does it have on the credit reports/scores?
My credit score is about 680 now across the 3 CRA. If not closing, can I call and recon?
11-02-2012 10:07 AM
CCs are really like no other monster out there. If you apply for one and get approved immediately the CR is hit with a new TL and hard to recon CL. Absurd. Then they will only tell you the FULL T&C after you receive the card. That's some BS! I don't even know what I am agreeing to yet and they hit my CR with a new TL and if I don't agree to the T&C I have to Cancell the card and then I am stuck with dings and hits on my CR! BS!
Loans are not like this. Both secured and UNsecured loans will not hit your CR until you sign on the dotten line--NOT right after you inquire/apply for the loans. Some BS that is.
As far as your quesiton goes: yeah you are basically screwed cuz chances are the TL is already on your report. Best to try to recon for the extra 700+ dollar CL you want.
11-02-2012 09:03 PM
Your account is already open. Activating a card is just a security measure to see if it got mailed to the right person and often a a salses pitch on some of their ridiculus add ons. You can try a recon now, won't hurt anything.
Also Target is selling all credit accounts ot anoher bank. So I am waiting until that is done and then I will be asking for CLI.
11-02-2012 09:13 PM
I applied for a Discover matrix and I was approved, once I went back over the terms and fees, I called and cancelled it before the account number had been assigned, it has never hit my credit reports. YMMV
11-02-2012 09:15 PM
If you want to close the account, you can. The account opens and reports as soon as you apply and it's approved. Activating it is simply ensuring the applicant received the card OK before said account will be open for charges. It won't have much of an effect on your history if it is closed. It will still report for 10 years.
I closed a credit card after having it 2 weeks with no charges. Just decided I could better utilize my other cards. It's ok to close it. Some people have had success in reversing the entire process as if you never applied by contacting customer service and tell them you no longer want or need the account and they could probably reverse the inquiry.
11-02-2012 09:31 PM
you can apply for target online now? I just got mine in July but there was no option to apply online ... only in store. I guess that's good news. Theyre starting to act like a normal acct. Now I'm just hoping they actually start giving CLIs after they're sold to the ther bank. I can't do much with a $200 CL and I have to keep reminding myself that there's still the 5% off benefit and free shipping on online orders.
11-02-2012 11:44 PM
Thanks guys. I guess I'll keep it for a while since there's no AF plus 5% discount. I'll wait for the new bank to settle in and call for CLI in about 6 months.
I just dropped 2 baddies from TU dispute so my score is going up +25 in the last week.