Applying for CC different than accepting

[Anonymous]

I realize this may be a dump question, I'm relatively new to the boards so I'm not up on all the lingo and what not but is there a difference between applying for a CC (perhaps to see what kind of offer is available) and actually agreeing to take the card?  I've never applied for a card I didn't take and it's been a while since my last new card so I don't remember the process.  Is there a diff on the credit score too?   Thanks,

Message Edited by ashas on 02-18-2008 09:02 AM

[Anonymous]

When you apply- you are accepting

If you don't like the terms you need to immediately call and decline the terms or it will be reported anyways even if you don't acctivate the card-

Now as far as "per approved offers" like WAMU, Capone, BofA, HSBC where they do a soft prior to your application-

That's a whole different thing-

[Anonymous]

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ashas wrote:

I realize this may be a dump question, I'm relatively new to the boards so I'm not up on all the lingo and what not but is there a difference between applying for a CC (perhaps to see what kind of offer is available) and actually agreeing to take the card?  I've never applied for a card I didn't take and it's been a while since my last new card so I don't remember the process.  Is there a diff on the credit score too?   Thanks,

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No, in general, there is no difference.  When you apply for a card and are approved, you get the card and don't really have an option to explicitly accept or decline the terms they give you.

However, if you are approved and don't like the terms, you can close the card immediately, and that may prevent the new account from showing up on your reports.

You'll still have the INQ even if you close it right away.

[Anonymous]

We are closing for the construction loan on Friday (our scores were pulled at beginning of Dec and are good for 90 days), does anyone think it would be better to apply before the closing or doesn't it matter??

[Anonymous]

Don't be silly-

Wait til after the closing-

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ashas wrote:

We are closing for the construction loan on Friday (our scores were pulled at beginning of Dec and are good for 90 days), does anyone think it would be better to apply before the closing or doesn't it matter??

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[Anonymous]

ok Tim you're going to have to explain that one to me because I was just thinking that if I didn't get a response this afternoon that I was going to go home and call Amex and Citi and apply for thier CC. I was thinking surely you have a better score before adding $200,000 under your name

[Anonymous]

the lender sees that as adding more debt and could potentially impact your loan....typically your CR is pulled to qualify and and an inquiry is made just before closing...

[haulingthescoreup]

You NEVER want to do anything to rock the boat before closing on a mortgage or construction loan. What's more important, the card or the house?

In fact, there might be a delay between closing and the mortgage appearing on your reports. So if anything, that might be the time to sneak in a CC app.

But no apps, no nothing, until that thing is nailed, glued, and screwed down to the floor.