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New Member
CreditSwaps
Posts: 3
Registered: ‎10-15-2012
0

Rejecting a CC I never wanted?

Buying an iPad Mini for Christmas gift.  Apple's online store had 0% financing for 12 months with Barclays Card.  Applied online late one night.  Told system was down and a decision couldn't be made immediately.  

 

Went with a current funding source at 0% for 6 months.

 

Now Barclays is sending me a card, opening an account, the junk mail has started, etc.

 

I'd just assume NOT have the account, but closing it may hurt my number (it went up slightly at opening).

 

Leave it open and not use it, or use once/sparingly?   Call Barclays and explain that I didn't want it in the first place if I couldn't get an online instant decision on the iPad?

 

A Christmas conundrum....

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Rejecting a CC I never wanted?

I suggest that you keep the card and sockdrawer it...

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Contributor
Croselx
Posts: 139
Registered: ‎07-31-2012
0

Re: Rejecting a CC I never wanted?

Pros:

You said score increased slightly on opening.

Higher available balance and lower Util if you had a balance on other cards (if balance is high enough might help you get bigger limits later on)

AAoA increase over time

 

Cons:

AAoA hit (will be a pro down the line)

Inquiry used that is unlikely to be removed even if you cancel the card

 

I'd keep and sock drawer, like webhopper said.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: Rejecting a CC I never wanted?

Nothing you do now will change anything, your AAoA won't change if you close it, the INQ will remain.  You might as well keep it open, sock drawer it, and enjoy the extra UTIL padding

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Rejecting a CC I never wanted?

 

On, for example, the Mastercard Rewards, Barclays say they may close it if it isn't used at least once every three months.  Has that happened to anyone?  Might not apply to all their cards of course

Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Rejecting a CC I never wanted?

I would keep it to help UTI and you already took the hit

$100K in Credit
Last Credit Card App: 11/16/13
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Rejecting a CC I never wanted?

if you never wanted it you shouldn't have app'd :smileytongue:


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Senior Contributor
Ron1
Posts: 4,883
Registered: ‎05-23-2009
0

Re: Rejecting a CC I never wanted?

You already took HP. Your score will drop whether you close or not.  The creditor will report it as closed account. It doesn't help your score. The card has no AF. I doesn't cost you to keep it. 

 

 

Ron.

New Member
CreditSwaps
Posts: 3
Registered: ‎10-15-2012
0

Re: Rejecting a CC I never wanted?

Not exactly.

 

They were offering 0% for 12 months on iPad Minis.  I'd have taken it if their system wasn't down on a Sunday morning to give me instant credit so I could complete the transaction in time for Christmas delivery.

 

THEY took the information and opened the account; sending a card, etc.  If they'd asked, I'd have turned it down as their system wasn't quick enough off the mark.


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