Closing a New Credit Card Account

[AJ67]

---

@Horseshoez wrote:

---

In April of 2020 I opened up a card which came whith a limit too low to be of use for me; I closed it less than 7 weeks later in early June.  Like you, I took the hit for the new account and the HP, so damage done, however, when I closed it, nothing happened to my scores, and now, nearly 4 years later it is still showing as a positive on my credit reports.  Personally, I say close that turkey.

---

Thank you so much! That's exactly what I want to know!

[SouthJamaica]

---

@AJ67 wrote:

Last month I was a approved for a Citizen's bank credit card. They only gave me a $500 CL. It's beyond ridiculous...as my CL in all my other credit cards range from $5000 to $30,000.  I'm basically regretting applying for this credit card. To request a CLI you need to call customer service, they pull a hard inquiry and it might take days/weeks to know the decision (weird) + For balance transfers...you also need to call cs and they still charge 5% fee during the introductory offer. I hate it because they make things so cumbersome!  So I'm not happy with this card at all. I'm thinking to close it, I haven't used it. And if I never use it...would they close it?

I'm wondering how would closing this credit card affect my credit score??

I mean if I close it vs. if they close it for nonuse...

I need your insights on this...thanks

---

It won't affect you either way.

[Barkius]

What did you end up doing? I had a Navy Federal card that opened up and they gave me $500 and I just didn't want to deal with it so I closed it within 2 weeks. I just I'm not going to deal with BS stuff and have to nurture it and ask for credit limits and make the occasional purchase and stick it in the sock drawer I'm just not going to do any of that stuff.

If some company gives me a crap line of credit then the card is going to be closed I'll take the hit and the drop in average age of accounts I'm just not going to deal with screwing around with it. Life is too short.

[DoppelgangerD]

I've always wondered, if you were to open a new cc account, didn't like it for low limit or whatever reason, then just immediately close it...

Is it possible that it never gets reported to the bureaus??

It was open less than a month and never used, and also never activated.

Anyone ever heard of anyone trying this?

[Horseshoez]

---

@Barkius wrote:

What did you end up doing? I had a Navy Federal card that opened up and they gave me $500 and I just didn't want to deal with it so I closed it within 2 weeks. I just I'm not going to deal with BS stuff and have to nurture it and ask for credit limits and make the occasional purchase and stick it in the sock drawer I'm just not going to do any of that stuff.

If some company gives me a crap line of credit then the card is going to be closed I'll take the hit and the drop in average age of accounts I'm just not going to deal with screwing around with it. Life is too short.

---

You won't take a hit in AAoA, even if you close the card immediately; it will still count toward your AAoA for up to ten years.

[Horseshoez]

---

@DoppelgangerD wrote:

I've always wondered, if you were to open a new cc account, didn't like it for low limit or whatever reason, then just immediately close it...

Is it possible that it never gets reported to the bureaus??

It was open less than a month and never used, and also never activated.

Anyone ever heard of anyone trying this?

---

The new card will get reported to the bureaus as will the pull on your credit, so you'll get dinged effectively twice for the new card, even if never used or even activated.

[JoeRockhead]

---

@Horseshoez wrote:

---

@DoppelgangerD wrote:

I've always wondered, if you were to open a new cc account, didn't like it for low limit or whatever reason, then just immediately close it...

Is it possible that it never gets reported to the bureaus??

It was open less than a month and never used, and also never activated.

Anyone ever heard of anyone trying this?

---

The new card will get reported to the bureaus as will the pull on your credit, so you'll get dinged effectively twice for the new card, even if never used or even activated.

---

The only times a "new account" would disappear from your reports is if it was an  account you were added to as an AU, then removed from in short order. I've had this happen to me (twice). But, as @Horseshoez said, if it was your account, it gets reported even if you close it immediately. Whether or not it stays on your reports a full ten years could be open for debate, but you'd still take the initial score hits as stated above.

[ForwardLooking]

---

@Traveler101 wrote:

...  Buy a newspaper or coffee. ...

---

Who buys newspapers anymore.