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New Member
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
Posts: 7,225
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
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Contributor
Posts: 139
Registered: ‎07-31-2012
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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.
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Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
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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 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
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Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
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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
Posts: 1,524
Registered: ‎08-17-2008
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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
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
Super Contributor
Posts: 5,497
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
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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