What happens if you don't activate a new credit card?

Question

I was approved for a credit card that I didn't really want and immediately regretted it. I want to cancel it but I heard it will hurt my credit even more than keeping and using the card so what happens if I don't activate it at all upon reception?

Answer 1

Best Answer - Chosen by Asker

Applying for the credit card caused a credit inquiry which dinged your score. In the future, only apply for credit cards you actually plan to use.

If you now close the account, it really won't hurt your score any further. You haven't had the account long enough to make any difference. Send a letter to close the account and request written confirmation that the account is closed and 0 balance.

If you don't use the card, the creditor will eventually close the account for inactivity -- probably after 9 months or so.

Asker's Rating:

Asker's Comment:

Thank you

Answer 2

Nothing happens. It will appear as an open account (no balance) on your credit record and could affect your ability to get future credit, but won't hurt your credit either way.

Answer 3

You can't use it. If you don't want it, call the credit card company, tell them....and cut it up with scissors.

Answer 4

you won't be able to use it

Answer 5

It is better to just cancel it. I dont think it will hurt your credit. You only hurt your credit if you dont pay bills.

I don't think anything is going to happen if you dont activate it. They may end up calling you. Or keep mailing you more cards that can get lost in the mail and other ppl will activate.

Answer 6

If you never activate the card, the company that supplied it may report it as missing/stolen. However, virtually nothing happens if you activate the card and never use it, assuming that the specific card doesn't require a "membership fee." If the terms and conditions do mention a membership fee then you are better off canceling the account; why pay for something you aren't going to use?