topic Re: Think I Messed Up in Credit Cards

Think I Messed Up

Brooks14 — Mon, 09 Sep 2013 20:29:03 GMT

So I got my Chase Saphire in the mail 4 days ago and never activated it. I called Chase today and asked if I can have the Chase Saphire Preferred instead and they said yes.
Ok cool...then she tells me she cancelled the regular Saphire and the new Saphire Preferred is activated and I will receive it soon in the mail.

Question....since I never used the first Saphire or activated it and now Chase closed it within 2 weeks of me applying will it show as a negative on my credit report?

Re: Think I Messed Up

tcbofade — Mon, 09 Sep 2013 20:32:51 GMT

No. What possible negative are you concerned about?

It MAY show an account that was opened, then immediately closed which I suppose could affect your AAoA, but with another account opening right behind it, that affect would be negligible at worst.

Quit worrying. Your fine.

Re: Think I Messed Up

Brooks14 — Mon, 09 Sep 2013 20:36:10 GMT

She said it would state closed by me and not by them.
Worried cus I thought closing a credit card shows as a negative.
So it won't affect my score?
Totally confused

Re: Think I Messed Up

RushXTC — Mon, 09 Sep 2013 20:37:12 GMT

@Brooks14 wrote:
She said it would state closed by me and not by them.
Worried cus I thought closing a credit card shows as a negative.
So it won't affect my score?
Totally confused

It only affects you if it's one of your older cards, Because it lowers your AAoA. Either way, It would take 10 years to have any effect on you! (stays on record)

Re: Think I Messed Up

Brooks14 — Mon, 09 Sep 2013 20:41:41 GMT

So this card I closed would be on the negative or positive accounts side of credit report? Never even used it.

Re: Think I Messed Up

tcbofade — Mon, 09 Sep 2013 20:42:27 GMT

@Brooks14 wrote:
She said it would state closed by me and not by them.
Worried cus I thought closing a credit card shows as a negative.
So it won't affect my score?
Totally confused

No, YOU closing a credit card does not show as a negative in any way and will not affect your score.

If THEY close the credit card, it MAY report as a negative... (THEY would close it because of late pays etc...)

Re: Think I Messed Up

tcbofade — Mon, 09 Sep 2013 20:42:54 GMT

@Brooks14 wrote:
So this card I closed would be on the negative or positive accounts side of credit report? Never even used it.

Positive.

No lates, No balance.

Re: Think I Messed Up

maiden_girl — Mon, 09 Sep 2013 20:51:33 GMT

It will report account closed by consumer on your CR. The account is not going to report negative. Why would it when you had no negative information to report? The account will be factored into your AAoA for 10 years

Re: Think I Messed Up

Brooks14 — Mon, 09 Sep 2013 20:50:54 GMT

Phew ok....thanks!

And I won't take a hit on my credit score?

Re: Think I Messed Up

maiden_girl — Mon, 09 Sep 2013 20:54:24 GMT

@Brooks14 wrote:
Phew ok....thanks!

And I won't take a hit on my credit score?

You will still have an inquiry and your AAoA will be affected. That's pretty much it. Account won't be factored into UTL b/c it's closed.

Re: Think I Messed Up

Anonymous — Mon, 09 Sep 2013 21:48:48 GMT

@maiden_girl wrote:
@Brooks14 wrote:
Phew ok....thanks!

And I won't take a hit on my credit score?
You will still have an inquiry and your AAoA will be affected. That's pretty much it. Account won't be factored into UTL b/c it's closed.

The inquiry is OK, basically you got two cards for the price of one inq. But providing the account has reported (which it probably will) you will have a new account, so it is as you opened two accounts. The impacts your AAoA as stated, as you now have two very new accounts rather than one, and this will impact your score. How much depends on your existing AAoA and how many lines of credit you have on your report.

Re: Think I Messed Up

Anonymous — Mon, 09 Sep 2013 22:09:37 GMT

Sorry did they just PC your card to CSP? Or did they actually close your other card and open a new one? Or are you not sure yet? Obviously if card numbers are the same, they basically just PCed you. If they open new card and closed other one, the closed one might never even show up on credit report (you should ask for this is they did do this) as they haven't even reported it yet. Finally, make sure you are eligible for the 40k spend bonus with CSP no matter what scenario.

Re: Think I Messed Up

minipoly1 — Mon, 09 Sep 2013 23:07:12 GMT

How about signup bonus? Did you ask?

Re: Think I Messed Up

Brooks14 — Mon, 09 Sep 2013 23:20:15 GMT

Card numbers are different so did not PC. On my Chase online banking it show the regular Sapphire as a closed account. Yes they gave me the sign up rewards for first 3 months of the CSP. Should I call and ask them not to report the closed card? Or is it possible since it never went through a billing cycle that it just won't show up?

Re: Think I Messed Up

Brooks14 — Mon, 09 Sep 2013 23:34:06 GMT

Ok I called and they said they weren't sure if it will show up on my reports or if it will be a positive or negative...now I'm worried

Re: Think I Messed Up

Anonymous — Tue, 10 Sep 2013 00:32:39 GMT

A few years ago when I started rebuilding, I applied for credit one, once I got the card I read the terms and cut it up. Cancelled it through a phone call and it was removed from my credit report a few days later. I also never activated the card.

Re: Think I Messed Up

Anonymous — Tue, 10 Sep 2013 05:41:56 GMT

Closed card, if it shows up, will just lower your AAoA which will lower your score a little. Check cr in a couple of months. If it is on there, call chase EO and tell them the story and how you never even activated. I bet they can help, but don't bother them until it shows up, if it does.