12-08-2012 01:53 AM
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....
12-08-2012 02:02 AM
12-08-2012 06:06 AM
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
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.
12-08-2012 06:10 AM
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
|Chase Freedom $9500|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
|Lowe's CC $8500|
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
12-08-2012 07:39 AM
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
12-08-2012 12:50 PM
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.
12-08-2012 01:54 PM
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.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.