@AverageJoe1970 wrote:DOH!
@Anonymous wrote:did you apply to it with a $400 bonus for $3000 spend? cause it may be worth using for the free money at least just to get the bonus since you have it anyway.
If it's a Venture One the bonus is $200, but that's still $200 more than you would have had otherwise. 
The AAoA 'ding' has already taken place, so there's no use in closing it now - you might as well make the best of it. The 'ding' to your credit score will likely recover quickly, and like you mention it will help with your utilization. If you need another 'silver lining' the Venture One usually has an APR 1% lower than Venture (and QS), so if by some chance you ever do revolve a balance for a short time there's that.
Like others have mentioned, once the 'dust settles' you can contact Capital One about having it changed to a Quicksilver... they are both no-AF, but with QS you get 1.5% rewards instead of 1.25% equivalent (by 'equivalent', I'm talking about the "miles", which have redemption restrictions as well). Some people are able to get a PC right away, and for some others the PC takes a little while longer... in your case it likely won't matter much anyway since neither card has an AF, and it sounds like you won't be using it too much anyway.
For what it's worth, congrats on the approval... that's a nice SL for a Venture One! 
@AverageJoe1970 wrote:
@Anonymous wrote:Exactly.
@Anonymous wrote:
Or just get the $200 and PC it to QS.200 bucks doesn't necessarily justify activating a card.
I agree, but if you've already taken the AAoA hit you might as well get out of it whatever you can!
(Not activating the card won't prevent it from reporting.)
I did the same stupid thing a year ago - the card - never activated - never showed up on my credit report. (Hopefully I'll remember this in the future.)
@UncleB wrote:
@AverageJoe1970 wrote:
@Anonymous wrote:Exactly.
@Anonymous wrote:
Or just get the $200 and PC it to QS.200 bucks doesn't necessarily justify activating a card.
I agree, but if you've already taken the AAoA hit you might as well get out of it whatever you can!
(Not activating the card won't prevent it from reporting.)
@AverageJoe1970 wrote:
@UncleB wrote:
@AverageJoe1970 wrote:
@Anonymous wrote:Exactly.
@Anonymous wrote:
Or just get the $200 and PC it to QS.200 bucks doesn't necessarily justify activating a card.
I agree, but if you've already taken the AAoA hit you might as well get out of it whatever you can!
(Not activating the card won't prevent it from reporting.)
I did the same stupid thing a year ago - the card - never activated - never showed up on my credit report. (Hopefully I'll remember this in the future.)
I guess it's worth a try, but in my experience the account reporting wasn't dependent on it being activated. I think I may have read that Credit One is an exception, though.
I'll also add that I've always followed though with activating my cards, so my experience might not be representative of a larger sample.
That being said, I'll add that with Synchrony accounts I've opened most are reporting before I even get them in the mail, so I can say with certainty you can't simply not activate them to keep them from reporting.
I simply want things to work out for you whatever that entails... good luck no matter what you decide! 