@peanutbutterjellytime wrote:So I on a whim I applied for the Sam's Club MC, but instead was approved for the store card. I really don't want the store card so I'm tempted to call and cancel it. I've never been in this situation so not sure if it's a good idea to do this. How could this affect my credit, if at all? Or should I just keep it and not use it? I really don't need this card and shouldn't have applied. And now I have major buyer's remorse. Is it cool to cancel a newly approved card?
I wouldn't close it because you have already took the HP for it and it will report anyways. They might upgrade you next year 
Welcome to the myFICO forums!
Congrats on the approval.
I am with Joe on this. You have already taken a hit for the HP. Synchrony is known to convert store cards into MCs with responsible use.
@peanutbutterjellytime wrote:So I on a whim I applied for the Sam's Club MC, but instead was approved for the store card. I really don't want the store card so I'm tempted to call and cancel it. I've never been in this situation so not sure if it's a good idea to do this. How could this affect my credit, if at all? Or should I just keep it and not use it? I really don't need this card and shouldn't have applied. And now I have major buyer's remorse. Is it cool to cancel a newly approved card?
Welcome to the myFICO forum! We're glad you decided to join us! 
@Anonymous Congrats on your approval! And I agree 100% with @JoeLuvsHisCredit .
You should hang onto it and just care and feed your credit like you normally do.
BTW, when you applied for the Sam's Club MC you also applied for the store card.
At this time, and for whatever reason, you didn't qualify for the MC. So the system
auto approved you for the store card instead. Besides, 3-2-1 rewards are exactly
the same for the MC and store card. So either way, you'll still accrue statement
credits every month.
Congrats again on your approval. And try not to be discouraged.
Things may work out even better for you in the long run if you use
the store card responsibly and establish a good track record with Sam's.
Please keep us posted on your progress. Thanks so much for sharing!
Of course its cool
Regardless what you do, its one of fastest cards to report, maybe 2 or 3 days itll already be on your CR. Thats the chsnce one takes when apping Sams Walmart. Unlike Best Buy where you can choose. What do your stats look like that they didnt give you the MC? if you truely dont want it , no use keeping it . We all go through appers remorse at one time or the other.
Regardless what you do, its one of fastest cards to report, maybe 2 or 3 days itll already be on your CR. Thats the chsnce one takes when apping Sams Walmart. Unlike Best Buy where you can choose. What do your stats look like that they didnt give you the MC? if you truely dont want it , no use keeping it . We all go through appers remorse at one time or the other.
Congrats on the approval. Like others have stated I wouldn't cancel. Synchrony is super fast at reporting. It'll hit your report and you've taken the hp hit anyway. It'll grow and hopefully convert. Good luck!
