Credit Cards

[txjohn]

So you don't recommend I talk to recon now about it.....just keep it, use it and wait? 

Do you think I should consider converting it to the More or standard Miles cards with no AF? 

The standard Miles card doesn't have nearly as good a reward as the one I app'ed.  I am trying to use Rewards to pay toward year end vacation.  My wife complains we don't go (just the two of us) often enough, and I'm just conservative enough I hate to spend a lot on vacations, preferring those things you can do for little or free.  But wifey likes the fluffy stuff once in a while....this seemed like a great way to please her and not cost much out of pocket, just the AF. 

[Uborrow-Upay]

I'm not familiar with all they offer over there, so I hesitate to make any recommendation other than the Discover brand in general.

By the way, Las Vegas is a great deal these days, you might want to consider that as a destination for your vacation (if it's still there at year end...)

[txjohn]

Yeah, I actually own a timeshare there....but we don't use it too often.  I figured the reward card could pay the flight and car rental.

[haulingthescoreup]

Unfortunately, once you app'd, you got the inq, and once they approved, you got the new account on your history.

Might as well make a space in your wallet for it. Closing or refusing to activate it won't make any difference. Uborrow-Upay seems to know what makes them happy.

[txjohn]

I was going by what the CSR told me on the phone, that once I receive the card and read the terms, if I don't accept them and do not use/activate the card I am able to cancel/reject. 

So far, haven't I only applied?  I give them info, they say you are approved.  Is this different than auto or mortgage in which you can be approved, but no loan is official until "closing?"

Being that they do not provide full terms of account until you get the card, I would have thought that you have a small window to decline and effectively not have an account.  Generally the cards say something like, activation and use constitute acceptance and bind.

Please accept this post as a question and inquiry of subject (I'm a detail guy), not of argument on point.  I am just trying to determine what the legal basis for Discover would be to state that I have an account with them? when so far I have not been provided full terms nor actually signed anything nor agreed to terms upon disclosure. 

[haulingthescoreup]

You're able to cancel/ reject and not have the account, but I have always understood that it will pop up on your reports, showing "closed", and wave merrily at you for the next ten years. But I just had my brain re-arranged on a different thread , so I'm having one of those days where I'm not certain of anything any more.

Any other members: were you approved for a card, but declined it before activating? Did it show on your reports as a new account?

[txjohn]

Just as an abstract theory, I think you would at least have an argument for removal/dispute if they did report it.  Of course, it may require the services of an attorney to get their attention and action to do so.....and this again is conjecture soley based upon my crazy antics

[miahmarie]

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haulingthescoreup wrote:
You're able to cancel/ reject and not have the account, but I have always understood that it will pop up on your reports, showing "closed", and wave merrily at you for the next ten years. But I just had my brain re-arranged on a different thread , so I'm having one of those days where I'm not certain of anything any more.

Any other members: were you approved for a card, but declined it before activating? Did it show on your reports as a new account?

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This is a yes for me.  I was accepted for a card, when it came in I was unhappy with the terms.  I never activated it, and I cancelled right away.  However, the item still appears on my report.  (And I think it will be there for atleast 7 1/2 more years.)

[txjohn]

hmmmm, maybe we have a test case here, if miahmarie is interested in such an experiment. 

My theory is that an account is not actually an account until activated and a loan is not a loan until is closes.

Message Edited by txjohn on 03-29-2009 04:44 PM

[clocktick]

I seem to recall reading that some cards you do not need to call and activate at all (I was doing a search for something else).  When I went on my app spree I remember being surprised that there was one card, cannot remember which, I did not have to physically activate.