If I cancel an inactivated credit card will it hurt my credit score?

Question

Well I just got suckered into signing up for a sears mastercard as my second credit card but I would rather shop around for the best one for me and I don't really want this one, I have not called or done anything to activate it yet, so if I call up and cancel it, will it affect my credit score at all?

Answer 1

Applying for a card hurts your score.  However, that damage is already done.  Deciding to cancel will not hurt your score further.

Answer 2

It will not have an affect at all, as it will not show on your credit file.

Answer 3

it will not even put a slight bump  on your report!!!!

Answer 4

The credit inquiry put a small ding in your score.  Applying for multiple credit cards in a short timeframe will take a bite out of your score.

Closing this new account won't hurt your score.  Don't call.  Send a letter indicating you changed your mind and you want to close the account.  Request written confirmation that the account is closed and 0 balance.

On the other hand, you could keep the card.  Use it every now and then for a small purchase and pay it in full.  This would help you build your credit.  Experts recommend 3 or 4 revolving credit lines and 2 installment loans to get the best credit mix for the best score.

Answer 5

I do not think so.  It is the oldest credit cards that weights the most.  This card does not even have a month, so it weights little to nothing.  

Answer 6

Well, I was once told by a banker at my credit union that it helps your credit score if you have open credit card accounts with zero balances.  Like, when I paid off one of my credit cards, she told me NOT to close it out.  To just leave it open, but with a zero balance..that way it shows them that you have credit available to you, but you are not using it..that you are responsible enough to not use it.  So, I would say go ahead and activate it, then if you want, just cut up the card and never use it..or like someone else said on here, just buy small stuff here and there with it, then pay it directly off..that helps your credit as well.