4 years ago when I was 18 , I got a student credit card and I never activated it and I just cut it up. I never got any bills or anything in the mail and I don't even remember what company it came from. Do you think it expired? What happens if it didnt?
2007-06-04 14:40:09 · 5 answers · asked by Velvet 4 in Business & Finance ➔ Credit
Check your credit reports and see if and how it's reporting.
More than likely it had been closed for inactivity.
Depending on the company, you may be able to call them and have it re-activated.
edit++
Even if a card is not activated, unless the card holder actually closes the account, the creditor would have still considered it as an active account.
(not talking about the OP) >> If a card comes with an annual fee and the card holder does not activate the card and fails to close it, the card holder would still be liable for the fee.
2007-06-04 14:51:31 · answer #1 · answered by echo 7 · 3⤊ 0⤋
You can cancel a card at anytime. Just as long as the balance is 0.00, then you are ok. As soon as you applied for the card, the credit reporting agencies (Experian, TransUnion, Equifax) were notified, and this brings down your credit score a couple of points. Closing the account won't hurt you, but applying for cards or credit alot of times will lower your score. You applied and got an account for a credit line from Chase whether you activate the card or not. You could close or keep the Chase account now and it wont matter, and just get another card. Applying for another card will lower your score again, but your revolving credit will be higher which will raise your score over time just as long as you make every payment on time and don't carry high balances. (over 50% of limit)
2016-04-01 02:32:13 · answer #2 · answered by Rosa 4 · 0⤊ 0⤋
To find out the company the card is with and if it is still an active account (which it probably is) get a copy of your credit report and look at all of your revolving accounts that are open. The credit report should show the month and year the account was open. This will make it easy for you to determine what accounts were open during the year you were 18.
You can pull up your free credit report once a year for free at the following website:
www.annualcreditreport.com
2007-06-04 16:03:28 · answer #3 · answered by Texas Girl 3 · 1⤊ 0⤋
It would be advisable to contact the bank and determine the exact status of the account.
Each individual has a total credit limit that is determined by income, credit worthiness and financial obligations such as mortgages, loans and other bank cards. As soon as a credit card is issued, even before it is activated, the total credit limit for the individual is diminished by the credit limit of that card. This is one of the reasons that banks like to extend large amounts of credit, i.e. to block attempts to gain other cards, etc.
Consequently, if that non-activated card still has a credit 'block' on your total credit limit, this may limit future financial transactions such as obtaining the maximum mortgage that you may need some day.
Checking your credit report will show the status but inquiring with the bank will definitely resolve the issue.
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2007-06-04 15:55:28 · answer #4 · answered by Alan G 4 · 0⤊ 1⤋
If the card was never activated it was as the card did not exist to the company (so to speak). Think of it as a check that was torn up and never cashed. Hopes the help!
2007-06-04 14:52:34 · answer #5 · answered by justwannano 2 · 0⤊ 2⤋