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Do I HAVE TO activate it once I get it?

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Super Contributor

Re: Do I HAVE TO activate it once I get it?

$300 is hardly a fart in a windstorm when compared to your two non-NFCU cards. NFCU will give a $25k line to someone with a low enough DTI ratio and utilization despite having sub-600 scores. There's really not anyone else that will do that as far as I know.

 

That being said, most lenders have terms that state if you haven't used your card within a certain time frame, like 30 or 90 days, you can cancel without penalty and receive a refund of any fees that were charged during set up such as an annual fee. But like others have stated above, you've already taken the pull and it will be reported to the bureaus no matter what. Being that it's the platinum, you can request a product change in 3-4 months so you can change it to another Quicksilver or a venture.








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Message 11 of 14
Frequent Contributor

Re: Do I HAVE TO activate it once I get it?


@AverageJoesCredit wrote:
Hunnington is not slashing limits they are balance chasing you for some reason and if your scores are in 500's there must be a vslid reason somewhere. I would be ecstatic to get approved for any credit card on a 542 and even if its $300 its still a Cap One, better than most out there on that score. Perspective is always best 20/20Smiley Wink

I'm with AverageJoe. Something is going on here if you have a 542, and are getting balance chased. It's nothing to be ashamed of, life happens.

 

Would I cancel it? Probably not. I'd activate it, maybe use it every so often and let it age. It may or may not grow, but it's also not hurting anything. Any damage caused from getting the card is already done.

Message 12 of 14
Established Member

Re: Do I HAVE TO activate it once I get it?

I had the same thing happen with Sam's card.

I app'd at the register and got a $400 limit.

Called to cancel and they said to destroy the card when I got it and they won't report the account to the CRA's, but had to leave the inq.

 

If it's bothering you that much just call and ask, the worse they can say is no, its not possible.

Message 13 of 14
Community Leader
Valued Contributor

Re: Do I HAVE TO activate it once I get it?

You don’t have to activate it, but it will show up on your credit regardless. I did that once; I closed the account before even getting the physical card lol 

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Message 14 of 14
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