I applied a credit card and already received it weeks ago, but haven't activated it yet. I'm thinking about cancelling that one and applied for another one [from the same bank, just another type of credit card that offers better cash back]. What should I do, can I just call the customer service and tell I want to cancel the one I got, then apply for the other one I want? Would that be the best way to do? Also, would that affect my credit history for applying and cancelling a credit card?
2007-07-07 07:20:57 · 5 answers · asked by ViTheDuck 2 in Business & Finance ➔ Credit
Oh, sometimes I use cash, too. I want and need a credit card so that I can build credit history. Im turning 22 btw, so yeah, I need to build credit history from now so it will be easier for me whenI need to buy a house or something. And I already have one, not from the same bank as the one Im asking here.
2007-07-07 07:53:08 · update #1
If you want a different card from the same company, instead of canceling the card, call the card company and ask them to convert the card that you have now into the card you want.
If you qualify for that particular card they will usually allow the conversion.
2007-07-07 10:13:57 · answer #1 · answered by echo 7 · 0⤊ 0⤋
You only need one to grow you credit history. Credit cards are an easy way of getting into a lot of financial trouble! Credit card companies target people in your age bracket.
Yes, it will show up on your credit report that you have applied and received two credit cards. It will show the credit limit you have on each. Therefore it shows other potential creditors...say a mortgage company...that you could go out and charge up that amount of stuff on credit. (Even if you don't intend it.) It is very difficult to get a credit card company to actually close your account and reflect that on your credit report. They like for the account to be open because then it is a temptation for you to use it.
Please think long and hard about getting more than one credit card. They are so very easy to use but a million times harder to pay off. If you can't afford it now, save and buy it later. You will be glad you did.
2007-07-07 08:17:23 · answer #2 · answered by Joy 5 · 0⤊ 0⤋
It's is better for your credit score if you have more than one credit card. Take a look at these cash back credit cards and see if theres one you like from a different bank. If not you should try calling your bank and see if they can switch it. Canceling a credit card lowers your credit score.
2007-07-07 11:39:40 · answer #3 · answered by Helper 2 · 0⤊ 0⤋
if they have to take an application for credit than that is what will happen. if they can just add the points program on to your existing card then you'll be fine.
2016-05-20 23:03:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
why not use cash? credit cards can be dangerous.
2007-07-07 07:35:44 · answer #5 · answered by Anonymous · 1⤊ 0⤋