cancel
Showing results for 
Search instead for 
Did you mean: 

Declining card after approval?!

Eyepinpools
New Contributor

Declining card after approval?!

If you apply for a card and do not like the SL or apr offered post application process is it possible to decline the card prior to it ever hitting your reports? 

7 REPLIES 7
Rebuild2022
Super Contributor

Re: Declining card after approval?!


@Eyepinpools wrote:

If you apply for a card and do not like the SL or apr offered post application process is it possible to decline the card prior to it ever hitting your reports? 


If it is pre-approval process then it will not appear. If you accept the offer and later cancel the card it will remain on the report. If the card has no AF then I suggest keep the card and let it age. You already took the hit for credit inquiry and new credit account. Might as well keep the card if there is no AF.

Gardening since 08/2020
Message 2 of 8
FireMedic1
Super Contributor

Re: Declining card after approval?!

Like the old Stones song. "You cant always get what you want" Read the fine print in the Terms and Conditions. The range of APR's is usually listed. The perks/rewards should be why you'd want a certain card. What card are you speaking of? Many here have just about all the cards and could help you figure out where you'd end up with approval. Posting your scores could help also. Good Luck!






My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. Help fellow members accomplish the rebuild when you do it right and play the FICO Credit Game.
Message 3 of 8
DivideByZero
Established Member

Re: Declining card after approval?!

@Rebuild2022 Is absolutely right here, it is better to just sit on the card-especially with no annual fee. Closing the account will do more unnecessary damage after using a HP. Nothing says you have to use it, just sock drawer it.


Message 4 of 8
coldfusion
Community Leader
Super Contributor

Re: Declining card after approval?!


@DivideByZero wrote:

@Rebuild2022 Is absolutely right here, it is better to just sit on the card-especially with no annual fee. Closing the account will do more unnecessary damage after using a HP. Nothing says you have to use it, just sock drawer it.


One already took a hit for the inquiry and new account; the majority of the damage due to the closure would come from if or how the issuer would factor in the quick closure of the card if one chose to do business with them in the future.     Unless someone adds a derog in the meantime one's scores normally would start to bounce back within 3 months anyway. 

 

I'm not exactly an advocate of early closures but the sky won't come falling down if someone decides to do it. 

 



(4/2021)
FICO 8 (EX) 815 (TU) 822 (EQ) 808
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 5 of 8
ChargedUp
Valued Contributor

Re: Declining card after approval?!

On Elan apps they do the HP and then "make an offer" if approved and there are accept and decline buttons at the bottom of the page. I'm assuming if you hit decline, they don't create the account and it won't show on reports, but you still have the HP.

 

This is the only lender I can think of that does their app process this way.

AODFCU 3% Visa ($10K), Amex PRG (NPSL), Amex Blue Cash ($24K), Amex Simply Cash+ ($4K), Amex Business Cash ($22.5K), Discover ($29.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($15K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($10K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($13K), PenFed PCR ($3500), Bank of the West CB MC ($3K), PNC Cash Rewards ($14K), NASAFCU Rewards Visa ($20K), BOC/Elan Max Cash MC ($25K), BoA Business Customized Cash Rewards MC ($8k)
Message 6 of 8
Eyepinpools
New Contributor

Re: Declining card after approval?!


@ChargedUp wrote:

On Elan apps they do the HP and then "make an offer" if approved and there are accept and decline buttons at the bottom of the page. I'm assuming if you hit decline, they don't create the account and it won't show on reports, but you still have the HP.

 

This is the only lender I can think of that does their app process this way.


It seems as though all lenders should operate this way. It's silly that we app for something with only a range of terms then are stuck with what we're offered by them. Good on Elan

Message 7 of 8
Credit12Fico
Frequent Contributor

Re: Declining card after approval?!


@Eyepinpools wrote:

@ChargedUp wrote:

On Elan apps they do the HP and then "make an offer" if approved and there are accept and decline buttons at the bottom of the page. I'm assuming if you hit decline, they don't create the account and it won't show on reports, but you still have the HP.

 

This is the only lender I can think of that does their app process this way.


It seems as though all lenders should operate this way. It's silly that we app for something with only a range of terms then are stuck with what we're offered by them. Good on Elan


Apple card also.

Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.