topic Re: company sent credit card without explaining up front in Credit Cards

company sent credit card without explaining up front

Anonymous — Tue, 31 Jul 2007 14:13:27 GMT

We recently were approved for a home equity loan. The company automatically checked our credit, for a new credit card as well. The credit check for the card is on our report and shot the fico score down 1 point. We were told it automatically came with the loan. The problem is that we already have the exact same card. Now, we have 2 cards exactly the same...only difference is the last 8 numbers on the card. Anyway, we are not going to keep the card, but we are wondering how this will affect our Fico score since they did a credit check and then we don't keep the card. We aren't planning to even activiate it. Can we have the credit inquiry removed from our report or is it even a big deal? Hope this make sense...hard to explain.

Re: company sent credit card without explaining up front

Anonymous — Tue, 31 Jul 2007 16:25:31 GMT

Is there 2 inquiries...one for the loan and one for the credit card?? Does the small fine print on the loan papers say anything about a credit card?

Re: company sent credit card without explaining up front

Anonymous — Tue, 31 Jul 2007 23:23:52 GMT

The only inquiry showing on the report is for the card. That is weird, isn't it? We close on the loan this Thursday so I guess they will show us all of the paperwork then. Do home equity loans sometimes include a card in the deal? Should I just ask the company to combine the credit limits into one card, or just not accept the new one at all? Confused..

Re: company sent credit card without explaining up front

Anonymous — Wed, 01 Aug 2007 03:41:17 GMT

Well, as a solution, you could call and ask them to combine the two cards into one card with the added credit limit. I don't know about you but having a high credit limit would greatly improve my fico score because I have tiny accounts open and nothing big. Would help with Util too. I say dispute the inquiry, they are likely to delete it.

Re: company sent credit card without explaining up front

Anonymous — Wed, 01 Aug 2007 22:41:05 GMT

BofA by any chance?

Same thing happened to me EVEN AFTER I told my loan person that not only did I NOT want the LOC but I ALSO DID NOT WANT the CC.

They opened both against my WRITTEN demand. It took me THREE months but finally both were TOTALLY REMOVED from my credit report as if they never happened.