Applied for Credit Card... want to cancel it.

[edro]

I signed up for a credit card, and now I don't want it. I already have a few others that I don't use. I signed up for it because I wanted the Mastercard Paypass (tap 'n go thing).

Well, it turns out that my current card has it as well, it's just not advertised. I called them and they said that they will send me one. They said it is on a limited basis right now.

Anyways... I signed up for another credit card and now I want to cancel it.
Usually, after I have filled out an online credit card request, I get the card in the mail a week or so later, and you have to call the number on the card to activate it.

If I get the card in the mail and never call the number, is my account still active? I don't really want them to pull my credit again, because I haven't had my credit pulled for 3 months or so, and I don't want it to impact my credit.

I think I am screwed though. Oh well.

 

[shortspanishguy]

I have never had an inquiry ding me for more than 2 pts. I wouldn't worry about it.

 

[Gooberlx2]

Well they pulled your credit when you signed up in the first place. When it arrives, just call and tell them you decided not to keep the card (to be sure that they do actually close out the account). AFAIK, closing a card account makes no impact on your credit.

 

[zoiks]

Yep. You're screwed and so am I. I opted for the Citibank Professional card and decided that it wasn't worth it since I have 4 other major credit cards.
Its too late once you hit that submit button online or when you send in that application.

 

[zoiks]

Originally posted by: Gooberlx2
Well they pulled your credit when you signed up in the first place. When it arrives, just call and tell them you decided not to keep the card (to be sure that they do actually close out the account). AFAIK, closing a card account makes no impact on your credit.

Nopes. Closing an account does have an impact on your credit.
Also whenever you 'apply' for credit, you will get a hit on the report; little or large as that might be.

 

[ShockwaveVT]

"screwed" is a bit harsh. If you have good credit overall, a new card won't affect your score enough to really change your rating. (multiple new cards/accounts in a short period is what sends up the red flag) Call them up and cancel it and then move on.