2007-01-27 21:15:47 · 8 answers · asked by Tae K 1 in Business & Finance ➔ Credit
If there is no balance on it and you have not activated the card then there really is no point in keeping it open, unless your other cards are maxed out.If your other cards are below 50 percent of available credit then it would not hurt you to close the unactivated account.
2007-01-27 21:53:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I am assuming you ment to ask if it will affect your credit SCORE not your credit CARD. Because if you cancel it of course it will affect the card as you can't use it.
All the activiation does is let the bank know you got the credit card. The credit card is already going to show up on your credit report. First there was the credit inquiry that will show you requested it. Second it shows your credit limit, but $0 balance.
It may actually have little difference if you close it, but it may also lower your score because you have reduced your available credit.
2007-01-28 03:27:53 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
as post number 1 states, read your terms and conditions, cancelling within some time frame could include some charges
as far as credit rating...it depends, on how many other cards and limits you have, too many cards will lower, and not enough cards will not raise as much as you could
as I understand the best credit is 850 and that is credit cards with no balance. but with a decent credit limit (also no lates/collections...)
but second to that is not paying off credit cards, but keeping a 25% of limit balance.
however these rules are subject to change since the credit reporting agencies are going to start calculation FICO scores more consisently.
2007-01-27 21:26:19 · answer #3 · answered by wow_rmkr 4 · 0⤊ 0⤋
Even if it is not activated it may still show up on your credit report after you cancel it as a closed account. It may or may not affect your credit. It doesn't hurt to have the extra available credit as it will lower your total utilization on credit cards.
2007-01-28 02:35:23 · answer #4 · answered by Jason S 2 · 0⤊ 0⤋
If you signed anything for that unactivated credit card you might get charged. As always make sure you read the terms of service carefully.
2007-01-27 21:20:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No, it shouldn't affect your credit. To do so actually raises your credit limit for your other creditors to allow you, because the amount of credit the unactivated card was allowing you goes back into the "pot", so to speak.
2007-01-27 21:21:22 · answer #6 · answered by danaluana 5 · 0⤊ 0⤋
Usually it doesn't effect the credit, but if you have a balance in other credit card then it might. General thumb of rule is they like to see no more than 40% credit used! for example you owe $4000 all together, you need to maintain credit line of $10,000 or more to keep healthy score.
2007-01-27 22:24:56 · answer #7 · answered by Ted 4 · 0⤊ 0⤋
Contact the credit card company and cancel the card. Once this is done, destroy the card, don't just throw it away. Cut it up into small pieces.
An unused and unregistered credit card that is destroyed will not hurt your credit report...It will probably save it!!
2007-01-27 21:26:29 · answer #8 · answered by Rawstuff 007 3 · 0⤊ 0⤋