What if you don't want a card?

[EaglesFan2006]

A situation involving a friend got me thinking... He applied for a Target card with the intention of buying an item, but his limit wasn't high enough.  So, essentially the card is useless.   If he doesn't use it, or doesn't activate it, what happens?  Does the card report?  Makes me wonder about other CC applications that didn't offer great terms.  Is there anyway you can sort of say no and not have your credit hurt, save for the inquiry I guess?

[chnceit]

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@EaglesFan2006 wrote:

A situation involving a friend got me thinking... He applied for a Target card with the intention of buying an item, but his limit wasn't high enough.  So, essentially the card is useless.   If he doesn't use it, or doesn't activate it, what happens?  Does the card report?  Makes me wonder about other CC applications that didn't offer great terms.  Is there anyway you can sort of say no and not have your credit hurt, save for the inquiry I guess?

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Some companies like Barclay report right after you are approved, you dont even need to activate the card to have it report. 

One you are dinged with the inquiry it will stay for two years on your report, but will on affect your score for one year. 

[Repo-ed]

you took the HP....sounds to me this person new their credit was shaky at best going in.

[Tran92]

Too late to go back !

[trumpet-205]

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@EaglesFan2006 wrote:

A situation involving a friend got me thinking... He applied for a Target card with the intention of buying an item, but his limit wasn't high enough.  So, essentially the card is useless.   If he doesn't use it, or doesn't activate it, what happens?  

The account is now opened, whether it is activated or not.

Does the card report?

Yes.

Makes me wonder about other CC applications that didn't offer great terms.  Is there anyway you can sort of say no and not have your credit hurt, save for the inquiry I guess?

Nope. Once the account is opened it is opened.

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If your friend wants to make a large purchase at Target use debit version of Redcard.

[EaglesFan2006]

Thanks. I figured it would report... Just curious. I felt this same way when I got a 2nd capital one card two years ago. It had such a low limit that I didn't really want it, but used it anyway.

After hearing about this and reading other forum posts, in glad I never got a target card. It seems that they're fond of giving low limits and not building, much like cap one.

[sphinx313]

Lol, gotta love the low limits. These companies don't have room in their risk model for the average American.