Should i activate my new credit card?

[Lithium381]

i forgot i had even applied for it, and i don't know what took so long.....but i got a discover card in the mail yesterday, limit of $1500....i already have two Visa cards, $8000 between them.....will it hurt my credit to activate it? Help? suggestions? 18% APY

 

[EPCrew]

i believe it won't make any difference to your credit at tihs point since the line of credit is already open whether or not you actually activate the card. there are many options to lower that rate that you received. i would cancel.

 

[SoulAssassin]

Activating it or not activating it will not affect your credit, the account it already open and will show on your credit report regardless. You can activate it but at 18% I sure as hell wouldn't actually use the thing. They'll probably drop your rate over time to entice you to use it so just shove it in a drawer.

 

[acemcmac]

The damage is already done man... may as well...

Forget about the APR if you have the dicipline to pay it off....

 

[Lithium381]

I have never carried a balance on any of my cards in the past 4 years.....i geuss you're all right, activate it and toss it in the drawer....:-\ for 7 years, it's good till xx/11

 

[EPCrew]

although, discover did give me a 0% balance transfer for the life of the balance. the only downside is that after the first year (?) i have to spend $25/month. purchases will accrue standard APR until the balance transfer is paid off in full. i spend $25 and pay $0.50 in interest vs keeping that money in a savings at which I see 5%/year... i'd rather keep it in the bank at this time.

 

[FoBoT]

put it into a zip lock bag with some water and toss it into the freezer