I cut up the actual card so that I wouldnt use it while I was paying off the debt, and I paid it off but the company sent me a new card because the old one had expired. That was about a year ago, and I never actually activated the new card. Is this a bad thing? Do I need to activate it??
2006-10-08 17:07:08 · 11 answers · asked by Anonymous in Business & Finance ➔ Credit
no, but if you want to activate it that won't hurt either. you could just leave it in a safe place at home.
i had a card for about 3 yrs. that i never activated.
it actually would help build your credit if you charged like $10-$20 a month on it, then pay it off each month. (as long as you pay the entire amount at the end of the month, they don't charge the interest) but if you don't think you can control how much you spend, then it's best to leave it at home.
2006-10-08 17:11:24 · answer #1 · answered by sunshine 3 · 0⤊ 0⤋
Well, what credit card companies won't tell you is that their worst customers are those that ACTUALLY pay off their bill. As weird as it may sound, they thrive on customers that fall deeper and deeper into debt, because they are able to raise interest rates, and charge late fees. The first thing you should do is check your credit report and make sure that it shows that you paid the card off, and if it does, it's totally up to you on whether or not you want to activate the new card they sent you. You don't have to activate it just because they sent it to you.
2006-10-08 17:22:21 · answer #2 · answered by Shuan G 1 · 0⤊ 0⤋
If you don't plan on using it, there is no reason to activate it. You should cut it up and throw it away. Aside from the risk of someone stealing your account info, there is not much harm in leaving the account open. Keeping accounts open that you do not use can actually help your credit score because points are awarded for the length of time that an account is open. I would call the company to see what your account status is.
2006-10-08 17:14:10 · answer #3 · answered by CPAKeith 3 · 0⤊ 1⤋
If you dont activate it you cant use it. Check with your credit card company to find out their procedures....they may assume you never received the card and have to nullify it and issue a new card. Best to just activate and cut it up if you want to keep the account open...otherwise, close the account.
2006-10-08 17:12:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you don't want the account you should call the credit card company and tell them that you want to cancel the account. That ways it goes on your credit report as "Closed at customer's request."
Some lenders look at the available balance on a card that is open and count it against you since they think that someday you might decide to use it again (example is Sovereign Bank). So it is lowering your credit rating.
2006-10-08 17:10:21 · answer #5 · answered by Rich Z 7 · 1⤊ 0⤋
no you don't need to activate the card you still have an account with them and if you cancel the card it will be negative to your credit rating just leave it alone and it will work for you as unused debt money which is good
2006-10-08 17:10:30 · answer #6 · answered by j918101080 2 · 0⤊ 1⤋
Cut up the new one. You don't need it. Just have a bank card. That way you know if you have the money or not.
2006-10-08 18:04:38 · answer #7 · answered by Colonyhkman 3 · 0⤊ 0⤋
no. continue paying the credit card off. Don't get sucked into paying 21% interest any more.
2006-10-08 17:08:08 · answer #8 · answered by Trollhair 6 · 1⤊ 1⤋
If you want to be able to use it, I would activate it and cut it up just to make sure its still counting towards your credit....
2006-10-08 17:09:12 · answer #9 · answered by Anonymous · 0⤊ 1⤋
NO Why would you
2006-10-08 17:08:18 · answer #10 · answered by Bug 3 · 1⤊ 1⤋