To activate or not

[AverageJoe1970]

I received a Chase Freedom card with a relatively low credit line. I have not activated the card, because I simply won't use it.

I carry less than 5% utilization on all cards.

Will not activating negatively affect my credit rating? In 2014 I paid off my last student loan and a car loan, both of which have affected my length of credit history - so I'm also wondering if this new card will adversely affect credit history.

Thank you!

I did read this, but curious to know what ya' all might think. http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/td-p/347190

[Anonymous]

Welcome ro the forums.

Really doesn't matter if you activate it or not. It is going to report.  I'm not sure if you can call Chase and ask them to completely close the card and don't report it.

[Anonymous]

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@Anonymous wrote:

Welcome ro the forums.

Really doesn't matter if you activate it or not. It is going to report.  I'm not sure if you can call Chase and ask them to completely close the card and don't report it.

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+1.. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Welcome ro the forums.

Really doesn't matter if you activate it or not. It is going to report.  I'm not sure if you can call Chase and ask them to completely close the card and don't report it.

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+1.. 

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Yes, activation is only for security, (and some cards ship activated anyway) the account will appear on your CR activated or not.

[AverageJoe1970]

So if I "close" it - how can I expect it to affect my Credit? Will my credit history re-adjust - or will the card be included? Sorry, I'm not familar with how this works.

Thanks.

[Anonymous]

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@AverageJoe1970 wrote:

So if I "close" it - how can I expect it to affect my Credit? Will my credit history re-adjust - or will the card be included? Sorry, I'm not familar with how this works.

Thanks.

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You said you read the link in your OP!   Closed cards will continue to report for up to 10 years.  The inquiry will report for the next two years (impacting score for 1).

The only immediate impact on closing a card is that you lose the credit limit, which can increase your utilization % (if any), lowering the score

[Anonymous]

I assume you wanted the card or you would not have app'd.  If you are just unhappy with the CL then recon.  You already took the HP.  If you have another Chase account you can transfer credit limits.  Shame to waste an inquiry. 

[racer-x]

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@Anonymous wrote:

I assume you wanted the card or you would not have app'd.  If you are just unhappy with the CL then recon.  You already took the HP.  If you have another Chase account you can transfer credit limits.  Shame to waste an inquiry. 

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That's what I was thinking.

Might as well activate it so the CL will help utilization, whether or not utilization is ever an issue really doesn't matter.

You've already paid for the card via a HP, may as well use it.

[SnackTrader]

Feel free to ask for a higher credit line if you think you deserve it.

[AverageJoe1970]

I'm not worried about the HP, they didn't do one.

I'm solely interested in trying to adjust the combined average of my credit history - which changed once I paid off my last student loan.

Thanks.