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? asked in Business & FinanceCredit · 10 years ago

I just got a kohls store credit card w/o really even realizing it (i am young n' dumb) and got a discount....?

It will hurt my credit, cause they check my score. The jeans I bought were $36 w/o the card and $32 with it. What a waste of 10-30 pts on my credit score for $4 savings!!! She asked for my social security number and I said - I don't want to give that out. She said they have to use it to do a check. I guess I grossly misunderstood. She said "Kohl's charge card." I guess I thought very very briefly that it was a coupon card - just being a member, and that's what I asked. I thought I was becoming a member, with benefit discounts. She said it so fast. People at the mall offered clothing to me too! They are trying to sell!!

I got screwed, and I am 20.

Could I cancel it? I will call and ask. Probably too late. I already got the discount. I mean - there are benefits - but my credit score should bounce back up - right? With time? My regular, main card is with Wells Fargo (student card - I don't work). I already canceled that once and re-applied so that hurt my score and then this Kohls things happens!!!

Update:

Do I have to use the card to keep it active/and or avoid fees? If I don't - I don't care - I don't want the card and I'll take the ding to my score and never shop there again for a while.

Update 2:

whenever I carry a balance I always pay it off right away - because I live at home, have money and have no reason to not pay it off and hurt my score. I've had a card and understand how they work - since 18. That's not the issue. Do you think they charged the card or my debit - I swiped my debit.

Update 3:

I canceled the student card because I was stupid at 18 back then and didnt realize it hurts my score (I didn't understand the score makeup percentages). So I needed a card and wanted to build it back up, so I got the card back. Wells Fargo is the only place that allows students who don't work to build credit with a bank.

Update 4:

I was pissed with Wells and their fees. I went to a credit union, and closed all Wells fargo accounts out. Credit card closure WAS the mistake.

3 Answers

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  • 10 years ago
    Favorite Answer

    A new credit card only dings your credit for the first 6 months.

    You have options.

    Continue using it every 6 months or so, and pay in full each time you use it when you get the bill.

    This will improve your score over time.

    NEVER carry a balance - it destroys credit.

    Cancelling the card will do you absolutely no good.

    The small damage has been done.

    Leave the account open - use it or don't use it.

    But remember - never ever carry a balance - it can ruin your life.

    When you get that bill in the mail - pay in full.

    Why did you cancell your student card?

    "Length of credit history" is 15% of your rating.

    Why are you afraid of credit?

    If you use it wisely - it can reward you in many ways.

    There are no fees with credit cards - even the Kohl's.

    Just pay it in full.

    For those top scores you need open credit cards in your credit reports. You need to prove to creditors just because you have cash available - you are not going to run out an use it.

    /

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  • 4 years ago

    You need to call Macy's credit card company. Look on the bill for the phone number to talk to them. There will be an option to report a stolen card. Talk to a person at the company and tell them you NEVER received the card in the mail and someone is using your card. Someone stole your card (maybe someone in your house). Tell them to cancel the card and tell them you bought the first items when you opened the card in the store and that is it. And it was their responsibility to verify that the person using the card in the store was really you. Someone stole your card or account number. Make sure no one in your family is using it. If they did call the police and report them for fraud or else you will have to pay for the stuff they bought with your card.

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  • 10 years ago

    hey

    There are many web-sites , that offer credit report, but I would suggest you http://EliteCreditReport.info , because they offer this service totally free .They are one of the best web-sites .They also offer credit monitoring, id theft alert, and many more things...

    Just Enter the link and register .

    Hope that was helpful for you

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