topic Re: I don't want the card!! in Credit Cards

I don't want the card!!

cldavis04 — Wed, 22 Feb 2012 03:45:57 GMT

I was approved for a card but it has a high AF and Maintenance Fee. I DON'T want the card. If I don't activate the card does that mean that the account is never officially opened or do I have to call and tell them to cancel?

Re: I don't want the card!!

Anonymous — Wed, 22 Feb 2012 03:49:45 GMT

At this point, it will report even if you don't activate it.

Re: I don't want the card!!

Anonymous — Wed, 22 Feb 2012 03:50:45 GMT

If you dont activate the card, you wont have to pay the annual fee and your card will report to the credit bureau's as closed for next 10 years . You can also call them and cancel the card, they might offer to waive the annual fee.

Re: I don't want the card!!

bichonmom — Wed, 22 Feb 2012 03:53:41 GMT

@cldavis04 wrote:

I was approved for a card but it has a high AF and Maintenance Fee. I DON'T want the card. If I don't activate the card does that mean that the account is never officially opened or do I have to call and tell them to cancel?

Curious as to whyy you would app for a CC with high fees if you didn't want it. Anyway, to answer your question: in all liklihood, the card will still report on your CR as a new acct and affect your AAoA. I'd call the CCC and tell them you changed your mind and don't want the CC as aks if they will NOT report it to the CRBs. . It's really up to them to choose NOT to report it to the CR. Usuallly it will report and there's nothing you can do.

Re: I don't want the card!!

Repo-ed — Wed, 22 Feb 2012 03:57:57 GMT

^^^^^^^^This. It's in big bold numbers, is it not?

Re: I don't want the card!!

cldavis04 — Wed, 22 Feb 2012 04:06:50 GMT

Thank you everyone for your responses.

I am still in the rebuilding stage. I originally applied for a card that I felt I had a chance of obtaining. Then after talking with some other posters who had similar scores and reports, I applied for a better card with no AF and lower interest rate. I was approved for that card with a much higher credit limit than the initial card (MC). Had I known that I would have a chance of getting the Discover card initially, I would never have applied for the other card.

Re: I don't want the card!!

Anonymous — Wed, 22 Feb 2012 04:24:27 GMT

Don't leave anything to chance. Call a cancel the account. I would also confirm no AF has been assessed.

Re: I don't want the card!!

corymcd88 — Wed, 22 Feb 2012 04:27:21 GMT

@cldavis04 wrote:

I was approved for a card but it has a high AF and Maintenance Fee. I DON'T want the card. If I don't activate the card does that mean that the account is never officially opened or do I have to call and tell them to cancel?

What card is it?

Re: I don't want the card!!

cldavis04 — Wed, 22 Feb 2012 04:29:49 GMT

It's the BestBuy Reward Zone Master Card. It automatically applied and approved me for this card when it wouldn't for the store card when I completed the application online.

Re: I don't want the card!!

corymcd88 — Wed, 22 Feb 2012 04:34:07 GMT

@cldavis04 wrote:

It's the BestBuy Reward Zone Master Card. It automatically applied and approved me for this card when it wouldn't for the store card when I completed the application online.

I wanted that card! I know people will think that I'm crazy but after capital one has it it will be a lot better. I don't care what anyone saids I love capital one!

Re: I don't want the card!!

cldavis04 — Wed, 22 Feb 2012 04:42:59 GMT

I have the capital one card. I have had it for about a year and a half but wanted a better card. One that would give me a chance to have CLI and increase my available credit. I pay off my cards every month and rarely have a balance on my statement but have only been increased once to $500.

Re: I don't want the card!!

JusdoNit — Wed, 22 Feb 2012 05:19:13 GMT

I had the same experience last year. Do not activate the card when it arrives. It will already be reporting, but no worries. Call and cancel.

It will not stay on your report for 10 years or further affect your Aaoa. It will come off your report in less than a month (for me it did).

CRA's are about how accounts are paid. You of course will take the hit for the inquiry and lose a few points. Other than that, no need to sweat it. Hope this helps, but if not toss.

I really wish they would start including an I reject your offer button once they inform you of their trifling terms before they start sending out cards.

@cldavis04 wrote:

Re: I don't want the card!!

cldavis04 — Wed, 22 Feb 2012 05:29:17 GMT

Thx JusdoNit

Re: I don't want the card!!

UpNComing — Wed, 22 Feb 2012 05:35:42 GMT

I'm in a similar situation. I called the backdoor number and asked to cancel the application. They cut my AF to $29 and asked me to call when I got the card to see what they could do with the CL. I called today after the card arrived. They activated it and and told me they would do a manual review for a CLI. If they don't give the CLI I'll most likely close the account.

Re: I don't want the card!!

Anonymous — Wed, 22 Feb 2012 06:12:17 GMT

@cldavis04 wrote:

It's the BestBuy Reward Zone Master Card. It automatically applied and approved me for this card when it wouldn't for the store card when I completed the application online.

It did the same for me. When I was approved, I was like "Oh, awesome, I even qualified for the Mastercard! I'll have a HUGe limit and be able to finance a TV!" Sure enough, I was stuck with a $300 CL and a $59 AF that they later cut in half. I think the card reported for two months, then I closed it. Best Buy needs to get with a better bank, lets hope Capital One will be more generous, although I'm not crossing my fingers. I'm still wondering why they ended their partership with Chase...

Re: I don't want the card!!

cldavis04 — Wed, 22 Feb 2012 06:36:55 GMT

Well I called to cancel and they really didn't care to even try and keep my business. They asked why and I told them because I was approved for another card with a much higher limit and not AF. All she told me was that it was a good card to keep while rebuilding. I told her that I already had two other cards with higher limits and no AF so there was nothing their card could do to benefit me. She then canceled the card and said I owed them nothing as of today.

There was no offer of any kind to get me to keep the card. So why stay? Their loss not mine!

Re: I don't want the card!!

Anonymous — Wed, 22 Feb 2012 06:42:09 GMT

@cldavis04 wrote:
Well I called to cancel and they really didn't care to even try and keep my business. They asked why and I told them because I was approved for another card with a much higher limit and not AF. All she told me was that it was a good card to keep while rebuilding. I told her that I already had two other cards with higher limits and no AF so there was nothing their card could do to benefit me. She then canceled the card and said I owed them nothing as of today.

There was no offer of any kind to get me to keep the card. So why stay? Their loss not mine!

Its a Reward Zone Mastercard, it shouldn't even be considered a rebuilder card! If I would have known what bank offers it, I would have never applied. I also had the same experience while cancelling, there was no attempt to get me to keep the card.