Hi,
I've just registered online for a catalogue account and they've given me a credit limit.
If I close this account now before making a purchase will this affect my credit rating?
If I don't close the account but don't buy anything will this affect my credit rating?
Thank you
2006-11-20 02:29:46 · 8 answers · asked by Jayne R 1 in Business & Finance ➔ Credit
If there is nothing you want, just hang on to the account, or have them close it. Only a very few points will be lost on you score, and it will return.
Also, beware catalogue credit. Usually the merchandise is priced far above fair, and the interest rate is unusually high too.
If you find something you must have, try to find it cheaper somewhere else, save and pay cash if at all possible. Failing that, buy from catalogue and pay off fast.
2006-11-20 04:49:55 · answer #1 · answered by Charles-CeeJay_UK_ USA/CheekyLad 7 · 0⤊ 0⤋
when you apply for credit and it is accepted then your credit score does reduce slightly but not enough to damage it. If you close it without making a purchase it wont make a difference that record of the account being open will still be there.
If you are annoyed about it complain to the company, you might get some free stuff! lol
2006-11-20 02:32:32 · answer #2 · answered by SARA H 4 · 1⤊ 1⤋
OMG plaese hear me out years ago they were good and prices were faitr this was before internet days today google fingerhut scam every persong got overdraft fee's from bank money stolen by fingerhut ruined credit reports and more nightmares than YOU ever will endure. DO NOT GO SIGN UP FH credit
2016-05-21 22:15:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, this won't have any affect on your credit rating, whatever you decide. All goods are sent on approval, so you have up to 2 weeks to change your mind anyway.
2006-11-20 02:37:06 · answer #4 · answered by Taylor29 7 · 0⤊ 0⤋
If it's never been used either way,it shouldn't affect your credit rating,as you've nothing to score against
2006-11-20 02:36:20 · answer #5 · answered by nicky dakiamadnat600bugmunchsqig 3 · 0⤊ 0⤋
Neither of your suggested courses of action should affect your credit limit
2006-11-20 02:34:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Make a small purchase, pay it off, and dont close the card.
If they are reporting to the credit bureaus, it will definately help.
If you close the card, it will hurt your credit.
2006-11-20 02:41:52 · answer #7 · answered by Anonymous · 0⤊ 1⤋
No
As long you don't owe them anything you can close it straight away and it won't affect your credit score.
I did the same with littlewoods
2006-11-20 03:26:57 · answer #8 · answered by Anonymous · 0⤊ 0⤋