topic Re: Are applications binding? in Credit Cards

Are applications binding?

Anonymous — Wed, 02 Mar 2011 15:10:05 GMT

Hey guys,

Just wondering, say I applied for a Platinum card. But then decided I dont want to pay the AF, can I simply not activate it? Can I simply just call and cancel?

Thanks,

Michael Vera

Re: Are applications binding?

Anonymous — Wed, 02 Mar 2011 16:29:32 GMT

You can call and cancel but not activating won't cause you to not get the fee, so you need to call. Also it may still report as a tradeline since you did open the account.

Re: Are applications binding?

Anonymous — Wed, 02 Mar 2011 16:45:04 GMT

Activating a card is just a security measure to see that you got the card in the mail. More often is a way to give you a sales pitch for all the high priced extras they sell.

It has nothing to do with opening or closing a credit account.

Re: Are applications binding?

Anonymous — Wed, 02 Mar 2011 17:56:17 GMT

@Anonymous wrote:
Hey guys,

Just wondering, say I applied for a Platinum card. But then decided I dont want to pay the AF, can I simply not activate it? Can I simply just call and cancel?

Thanks,

Michael Vera

cancelled First Premier the day I got it. Cancelled ok but

is still reporting to CRA's.