cancel
Showing results for 
Search instead for 
Did you mean: 

What if you don't want a card?

Established Contributor

What if you don't want a card?

A situation involving a friend got me thinking... He applied for a Target card with the intention of buying an item, but his limit wasn't high enough.  So, essentially the card is useless.   If he doesn't use it, or doesn't activate it, what happens?  Does the card report?  Makes me wonder about other CC applications that didn't offer great terms.  Is there anyway you can sort of say no and not have your credit hurt, save for the inquiry I guess?

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
6 REPLIES
Valued Contributor

Re: What if you don't want a card?


EaglesFan2006 wrote:

A situation involving a friend got me thinking... He applied for a Target card with the intention of buying an item, but his limit wasn't high enough.  So, essentially the card is useless.   If he doesn't use it, or doesn't activate it, what happens?  Does the card report?  Makes me wonder about other CC applications that didn't offer great terms.  Is there anyway you can sort of say no and not have your credit hurt, save for the inquiry I guess?


Some companies like Barclay report right after you are approved, you dont even need to activate the card to have it report. 


One you are dinged with the inquiry it will stay for two years on your report, but will on affect your score for one year. 


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Valued Contributor

Re: What if you don't want a card?

you took the HP....sounds to me this person new their credit was shaky at best going in.
5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Regular Contributor

Re: What if you don't want a card?

Too late to go back ! Smiley Surprised

TU 746 (10/13)
GOAL: 750+






Valued Contributor

Re: What if you don't want a card?


EaglesFan2006 wrote:

A situation involving a friend got me thinking... He applied for a Target card with the intention of buying an item, but his limit wasn't high enough.  So, essentially the card is useless.   If he doesn't use it, or doesn't activate it, what happens?  

The account is now opened, whether it is activated or not.

 

Does the card report?

Yes.

 

Makes me wonder about other CC applications that didn't offer great terms.  Is there anyway you can sort of say no and not have your credit hurt, save for the inquiry I guess?

Nope. Once the account is opened it is opened.


If your friend wants to make a large purchase at Target use debit version of Redcard.

 

Established Contributor

Re: What if you don't want a card?

Thanks. I figured it would report... Just curious. I felt this same way when I got a 2nd capital one card two years ago. It had such a low limit that I didn't really want it, but used it anyway.

After hearing about this and reading other forum posts, in glad I never got a target card. It seems that they're fond of giving low limits and not building, much like cap one.
Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Highlighted
Established Contributor

Re: What if you don't want a card?

Lol, gotta love the low limits. These companies don't have room in their risk model for the average American.



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700


Take the FICO Fitness Challenge