credit

[Anonymous]

Just got approved for a jc penny card only for the 20% discount. Can i cancel

[tattooedhusker]

What is it exactly you want to cancel?

[MovingForward_2012]

He wants to cancel his line of JC Penny credit that he just got approved for to get a 20% discount on his purchase. You need to read the terms of credit. At a minimum you have to pay your balance to zero before canceling. Not sure why you wasted an inquiry just for 20% off.

[ObeyJohnny12]

You might as well keep it and SD it unless you shop there often. You already took the inquiry. Might as well make it worth.

[nicholasyud]

why would you apply for it and want to cancel ;-( ??? lol

[bs6054]

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@nicholasyud wrote:

why would you apply for it and want to cancel ;-( ??? lol

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For the 20% discount as stated in the OP.   This can make financial sense if the user has no immediate need for a as-good-as-possible FICO score, and if the purchase is big enough.  People on this site, understandably perhaps given the site name, tend to be a bit too focussed on scores, forgetting that saving 20% can be a worthwhile end in itself.

[nicholasyud]

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@bs6054 wrote:

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@nicholasyud wrote:

why would you apply for it and want to cancel ;-( ??? lol

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For the 20% discount as stated in the OP.   This can make financial sense if the user has no immediate need for a as-good-as-possible FICO score, and if the purchase is big enough.  People on this site, understandably perhaps given the site name, tend to be a bit too focussed on scores, forgetting that saving 20% can be a worthwhile end in itself.

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Since the account been approved then its not different from used it or cancel it.

One HP and one new trade line.

Its not make sense to me sometimes.

[bs6054]

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@nicholasyud wrote:

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@bs6054 wrote:

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@nicholasyud wrote:

why would you apply for it and want to cancel ;-( ??? lol

---

For the 20% discount as stated in the OP.   This can make financial sense if the user has no immediate need for a as-good-as-possible FICO score, and if the purchase is big enough.  People on this site, understandably perhaps given the site name, tend to be a bit too focussed on scores, forgetting that saving 20% can be a worthwhile end in itself.

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Since the account been approved then its not different from used it or cancel it.

One HP and one new trade line.

Its not make sense to me sometimes.

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Right, but not everyone is in the same situation.  Many don't need a new trade line or care about HPs, but may not want an extra card that they do not plan to use.  (Just something extra to monitor for identity theft, fraud, and issuer deciding to implement annual fees.    Many on flyertalk open and close churnable cards for the bonuses, and this is a little like that).