Reply
Regular Contributor
Mustangfrank
Posts: 193
Registered: ‎07-17-2012
0

What if you get approved and decide you do not want or need the card

Is there a negative affect on your credit if you decide to decline the card after you have been approved

and the card has been sent to you?

 

This makes no sense but I applied for three Amex cards and they now have all been approved. (it's a long story)

I was hoping for just one card and now have three.

What am I going to do with a Zync, a BCE and a Costco True Earnings Amex card ?

This is crazy.

 

I would have been happy with just one card let alone three.

 

The plan for the future was to get the BCE and maybe a Chase Freedom card.

I certainly do not need three Amex cards.

 

 

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: What if you get approved and decide you do not want or need the card

I would keep all 3, esp with Amex's CLI policies. plus you already took the HP. if i were to close anything it would be the Zync b.c of AF. just my opinion



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Frequent Contributor
OptimasPrime
Posts: 348
Registered: ‎08-17-2012
0

Re: What if you get approved and decide you do not want or need the card

Well..you already took a HP for all three cards so that will have a temporary negative effect on your score for 12 months and stay on your report for 24. It's probably best just to keep the revolvers open for util purposes. 

 

If you were to close any of them id recommend the Zync, no sense paying an af for a card you don't want. It will report positively and stay on your report for 10 years.

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Valued Contributor
jamesdwi
Posts: 1,892
Registered: ‎09-16-2011
0

Re: What if you get approved and decide you do not want or need the card


Mustangfrank wrote:

Is there a negative affect on your credit if you decide to decline the card after you have been approved

and the card has been sent to you?

 

This makes no sense but I applied for three Amex cards and they now have all been approved. (it's a long story)

I was hoping for just one card and now have three.

What am I going to do with a Zync, a BCE and a Costco True Earnings Amex card ?

This is crazy.

 

I would have been happy with just one card let alone three.

 

The plan for the future was to get the BCE and maybe a Chase Freedom card.

I certainly do not need three Amex cards.

 

 

 


you have the cards, you have paid the price (inq, HP, new TL), closing the card changes nothing. It looks bad on manual reviews to close a card soon after you open it, Best to sock drawer the card untill the AF rolls around and then close it, if no AF keep the card perhaps run a small charge on it and setup autopay. Shouldn't be any more hassle to keep it open since you can take care of all your AMEX payments on one site. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Regular Contributor
Mustangfrank
Posts: 193
Registered: ‎07-17-2012
0

Re: What if you get approved and decide you do not want or need the card

Oh,

I should add that these were all applied for in one day and Amex only gave me one hard pull from Ex

for all three cards.

 

Go figure.

I think I just got lucky.

 

 

Tu = 725

Ex = 730

Eq +745

 

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Frequent Contributor
WarJar101
Posts: 341
Registered: ‎08-14-2012
0

Re: What if you get approved and decide you do not want or need the card

What's your credit history like, if you don't mind me asking? I was thinking of applying for the AMEX Zync, AMEX BCE, and Chase Freedom in around 7 months from now. I just got my first two CCs this month and last month. I was thinking apply after I get my CLIs from both in place so I get approved for a higher limit possibly at the time of my app.

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)
Regular Contributor
Mustangfrank
Posts: 193
Registered: ‎07-17-2012
0

Re: What if you get approved and decide you do not want or need the card

Sure, everything I learned was right here on this board.

I could not have done any of this without everyone's guidance.

 

My credit history is thin at best.

I started with zero credit Last January.

I applied for a Cap1 Secure card and deposited $2100 into it.

My usage was 10% every Month for eight months. 

 

Last week I applied for the Amex  Zync and was immediately accepted.

Then Applied for the BCE right afterwards same day and got the message that I would be notified in 14 days.

I checked the next day and was approved but for only $1,000 CL

That same day I went to Costco and applied in person for their Amex True Earnings revolver and today I was notified I was accepted.

 

(I would not recommend anyone do what I did) I think I just got lucky or slipped through the credit cracks.

 

I paid in full every month and never spent more than 10% of my Secured $2,100 on deposit with Cap 1

I have no loans or Mortgage or collections

 

My real Fico scores are:

EX = 730 which Amex pulled once for all three cards

TU = 725

EQ = 745

 

So basically I went from no credit to three Amex cards and the Cap1 in eight short months.

The best part is that Amex is back dating my American express card to 1983 when I had a Gold Card.

 

 

 

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Frequent Contributor
WarJar101
Posts: 341
Registered: ‎08-14-2012
0

Re: What if you get approved and decide you do not want or need the card

Real nice, I love that one HP thing AMEX does, I'm going to try for an AMEX Zync and a BCE around 7 months of a credit history just for **bleep**s and giggles. Lol, I know I'd probably get the Zync but not the BCE, but who knows?

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)
Valued Contributor
maiden_girl
Posts: 2,106
Registered: ‎12-29-2011
0

Re: What if you get approved and decide you do not want or need the card

I'd call and close ZYNC b/cit has a AF and keep BCE and TE open b/c they do not.

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Frequent Contributor
WarJar101
Posts: 341
Registered: ‎08-14-2012
0

Re: What if you get approved and decide you do not want or need the card

I agree with maiden girl, but I'd keep it and close it right before the AF kicks in.

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}