Matrix Cards

[Anonymous]

Hello, everyone!  I am in the process of building my credit and wanted to open a credit card today. I applied for the Discover IT card and got the "we'll be in contact within 10 days with our decision" type answer so I assumed it was declined and went on to apply for a Matrix card; immediately approved for $300 limit. Not the best. Fast forward 4 hours, and I get a call from Discover wanting to clarify some information. I answer their questions and was approved for $3000 limit with 0% for 18 months. Winning!

Once the Matrix card arrives, can I call and cancel it before activating it or anything... without doing any damage to my credit? I have two other cards (Capital One Rewards $1000 limit, statement balance is $261 and I processed online payment today) and a Citi card ($2500 limit, no balance).

[myjourney]

Welcome to the forum and congrats on your new discover card

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@Anonymous wrote:

Hello, everyone!  I am in the process of building my credit and wanted to open a credit card today. I applied for the Discover IT card and got the "we'll be in contact within 10 days with our decision" type answer so I assumed it was declined and went on to apply for a Matrix card; immediately approved for $300 limit. Not the best. Fast forward 4 hours, and I get a call from Discover wanting to clarify some information. I answer their questions and was approved for $3000 limit with 0% for 18 months. Winning!

Once the Matrix card arrives, can I call and cancel it before activating it or anything... without doing any damage to my credit? I have two other cards (Capital One Rewards $1000 limit, statement balance is $261 and I processed online payment today) and a Citi card ($2500 limit, no balance).

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[NonSufficientFunds]

I think your credit report has probably already been damaged (just a little), if they did a hard-pull. 

But I don’t think you actually have an account until you have activated the card. 

In fact, you don’t even have to acknowledge that you have received the card. 

There is probably something in the contract which states something to the effect “use of this card constitutes acceptance of the agreement”.

Just call customer service and tell them that you do not wish to activate the account – and that should be the end of it. 

They should not be able to charge your account if no such account actually exists. 

[LS2982]

Unfortunately your stil on the hook for the INQ but you can cancel the account, hopefully they do not report.

[09Lexie]

Welcome to the forum and the Discover family!

The Hp and possible AAOA loss from the new account are already done once you hit submit. You can contact them and ask them to cancel the account- hopefully they will and it will not affect your AAOA. Either way, you seem to be on your way with your nice cc line up!