Quick question...anybody there?

[Anonymous]

I was recently approved for a second CC through Household Bank. My first one with them I've had for almost 2 years, perfect payment history and it has the initial  $ 500 CL   Aparently, I won't know the CL on the new card until it comes. If it's crummy, and I don't "activate" it., am I still stuck with another low limit on my reports or do I just sufffer the temporary point setback from the inquiry?

Message Edited by McGrawgal on 05-16-2007 08:43 AM

[Anonymous]

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McGrawgal wrote:

I was recently approved for a second CC through Household Bank. My first one with them I've had for almost 2 years, perfect payment history and it has the initial  $ 500 CL   Aparently, I won't know the CL on the new card until it comes. If it's crummy, and I don't "activate" it., am I still stuck with another low limit on my reports or do I just sufffer the temporary point setback from the inquiry?

Message Edited by McGrawgal on 05-16-2007 08:43 AM

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If you don't activate it, you don't get the account and therefore you won't have another low limit card.  Have you asked for a CLI on the first card?   If you decide to activate, you could ask for a CLI on the new card right away.

I agree that it's bizarre that you can't find out the limit until you get the card.  I got a new card from a current issuer (AmEx) and even though I spoke to a human being (it really was the living, breathing, type), they couldn't tell me.

The inq won't hurt you provided you don't go apply for a zillion other cards right away.

Message Edited by masdeocho on 05-16-2007 11:51 AM

[Anonymous]

masdeocho,

Thanks for your reply I assumed as much but wanted to be sure.

To answer your question, no I havn't requested a CLI on the first card. I recently paid off all of my accounts  in hopes of refinancing my car at a better interest rate at some point. I haven't made it a priority since I have a WaMu card with a $2000 CL and a BofA with a $12,500 CL. I'm not paying any AF's on any of them so I think I'll just keep the first Household card active enough to keep it reporting for the history. It really does bug me though that they won't disclose a CL untill the card comes. psh!   

Thanks again for the reply

[Anonymous]

Careful though. Don't assume it's not activated because you don't make the "activation" call. There have been cases where the CC issuer considers your account activated the moment they approve you and issue the card. It's all covered in the fine print and you agree when you submit the app. You may think the card isn't activated then get dinged because they charged your annual fee or whatever and you never made a payment because you thought it wasn't active. Not sure how often this happens but I've heard of it, so wanted to pass along.

[Anonymous]

cant you call and ask them? i did that with Orchard yesterday..i got approved but didnt know anything about credit limit. I called them up and i was told that im blessed with $300 limit.

[Anonymous]

devhip,

Thanks for the heads up. I will definately call then once it comes to be sure. That's what I was afraid of but had no idea whether or not it was possible. Luckily no AF so no surprises there.

Thanks for the reply

[Anonymous]

Irvin,

I'm afraid if I call I'll jinx myself...lol   since that's what I did with the first card from them and I ended up with $500. I think it's a conspiracy, they wait to see if you call..to see how much you are counting on it!

Congrats on your victory btw.

Thanks for the reply.

[Anonymous]

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devhip wrote:
Careful though. Don't assume it's not activated because you don't make the "activation" call. There have been cases where the CC issuer considers your account activated the moment they approve you and issue the card. It's all covered in the fine print and you agree when you submit the app. You may think the card isn't activated then get dinged because they charged your annual fee or whatever and you never made a payment because you thought it wasn't active. Not sure how often this happens but I've heard of it, so wanted to pass along.

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Thanks, I hadn't heard about this.  Always there are traps for beginners!  And not-so-beginners!

Do you know if this has happened with a card without an AF?

[Tuscani]

masdeocho wrote:

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devhip wrote:
Careful though. Don't assume it's not activated because you don't make the "activation" call. There have been cases where the CC issuer considers your account activated the moment they approve you and issue the card. It's all covered in the fine print and you agree when you submit the app. You may think the card isn't activated then get dinged because they charged your annual fee or whatever and you never made a payment because you thought it wasn't active. Not sure how often this happens but I've heard of it, so wanted to pass along.

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Thanks, I hadn't heard about this.  Always there are traps for beginners!  And not-so-beginners!

Do you know if this has happened with a card without an AF?

Ah the old AF activation trick.. a CCC classic. Generally with a no AF card you do have to activate before it reports.