topic Re: Closing a credit card that you haven't even received yet in Credit Cards

Closing a credit card that you haven't even received yet

dapps06 — Mon, 01 Dec 2014 13:14:57 GMT

Last week I was approved for the Barclay Rewards card, this was before I knew I'd get approved for a few better cards later on. I haven't even received this card yet, I'm expecting it sometime this week. Will it kill my relationship with Barclays going forward if I call to close this account? Will it still show up on my credit report for 10 years?

Re: Closing a credit card that you haven't even received yet

elim — Mon, 01 Dec 2014 13:18:36 GMT

yes it will show up.

i have seen the closing date report older than the issue date on reports when this is done. you may as well keep it alive.

Re: Closing a credit card that you haven't even received yet

dapps06 — Mon, 01 Dec 2014 13:45:58 GMT

Okay, thanks for the response.

I'll prob just keep it then, at least for six months. If they don't give me a decent CLI at that point then I'll probably close it then.

Re: Closing a credit card that you haven't even received yet

chalupaman — Mon, 01 Dec 2014 13:48:00 GMT

You can always go for another Barclay card down the road like the Sallie Mae and move the CL of your Rewards card over and then close it if you want. That's what I'd do.

Re: Closing a credit card that you haven't even received yet

dapps06 — Mon, 01 Dec 2014 14:34:31 GMT

@chalupaman wrote:
You can always go for another Barclay card down the road like the Sallie Mae and move the CL of your Rewards card over and then close it if you want. That's what I'd do.

Good point, Cap One doesn't do this apparently so I guess I automatically ruled it out for other cards. Is Cap One the only major provider that won't allow you to do this?

Re: Closing a credit card that you haven't even received yet

1GaDawg85 — Mon, 01 Dec 2014 14:46:36 GMT

Pretty much

Re: Closing a credit card that you haven't even received yet

sexy_kitten7 — Tue, 02 Dec 2014 01:43:21 GMT

Keep it open! There's no AF and it may help you with the credit Nazis down the road

Re: Closing a credit card that you haven't even received yet

Anonymous — Tue, 02 Dec 2014 01:52:01 GMT

@dapps06 wrote:
Last week I was approved for the Barclay Rewards card, this was before I knew I'd get approved for a few better cards later on. I haven't even received this card yet, I'm expecting it sometime this week. Will it kill my relationship with Barclays going forward if I call to close this account? Will it still show up on my credit report for 10 years?

Why bother?

Build the relationship and app for a better card from them later with a bigger limit!

Re: Closing a credit card that you haven't even received yet

Anonymous — Tue, 02 Dec 2014 03:42:10 GMT

Keep it open, and just put an occasional small purchase on it every other month or so.

You've taken the inquiry and the blow to your AAoA, so closing it now does you no good.

Good behavior with the card will help you build a history with Barclaycard, and that can help you get a Sallie Mae, Arrival, a cobranded store card, or something else more useful with them down the road.