I applied for a credit card but I later found that I will not use it so I did not activate the card.?

Question

How will this spoil my credit history. What is the best thing to do in such circumstances?

Answer 1

I would suggest checking your credit report first. If you have alot of cards already, cancel it.  If not, then keep it because it could eventually increase your score as long as you use it once in a while and keep the balance at 0.

Answer 2

Activate it. It's still an account to you whether you activate it or not. Best to activate it to get it moving along on your credit report. Make small purchases once in a while. Best to not go over 25% (less even) of the cards value unless absolutely necessary.

Do not cancel the card. That negativly affects your credit since you were already approved and already hold the account.

Answer 3

I'm the same and my bank didn't renew it. So when i got another i was told to use it just the once to activate it and if i never use it again it doesn't matter. (I forgot and now worried to use it in case bank has stopped it! How embarrassing that could be!!!) Any way i believe that just having an activated credit card gives you a better rating, but as you were accepted for one anyway i guess your credit rating is ok any way!

Answer 4

close the account with the creditor and make sure you tell them you want it to reflect close a YOUR request. I would do it in writing.

Answer 5

Cancel the account immediately.  Just so you know, everytime you apply it is a negative.  But, if you keep it current, it will be a positive.

Answer 6

It will only count as "bad" on your credit history if you were declined. However, not using a card is not so good either because it doesn't show that you are using it "well", ie. paying always in time etc.

I suggest you give the company a call and ask to close the account. They may ask you to put it in writing. Some do some don't.

Don't worry about your credit history - it wont really affect it that much.

By the way, you can look at your credit history online by going to Experian at www.creditexpert.co.uk. There is a small fee but it is official and can be very useful!