Melissa
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You can definetly cancel a card once you get it and as long as the company doesn't have any fees (gotta read the fine print for that one) then you shouldn't have to pay anything. However, you don't want to do this if you can avoid it!
The reason why (and a reason many people don't know about) is that whenever you apply for a credit card/ store card the company has to check your credit score and each time it is checked your score decreases. This is very bad so you don't want to apply for something and not even have a use for it b/c it is lowering your credit score!
Also, it has been recently reviewed that to have an active credit card is percieved as being a good thing. Companies now-a-days like to see active and timely payment history as well as determining if you are a reliable and responsible person. This comes to play in your advantage when you may need to apply for a loan.
Try to avoid applying for cards that are trivial b/c you don't want to lower your score, and also...check the intrest rates and fees when applying for a card. Store cards have higher interest rates so try to stay away from them as much as possible! Just do your reasearch before applying! Good Luck and keep that credit score intact!
Check out this site for a more in depth explanation!
http://money.howstuffworks.com/credit-score.htm |
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The First Lady
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Yes - as soon as you decide that you don't want it contact the creditor and cancel the account.
Typically if you've had the card less than 30 days and haven't used it - the creditor will gladly close the account and if applicable remove any processing/setup fees. |
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Metalink
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Best way is to call the customer service on the back of the card and tell them that you want to close the account for good. You you don't use it, your account is still there. |
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[ jD ]
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talk to your bank and ask them to cancel it, i dont believe they should charge you at all if u never used it |
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Loli M
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Yes you can cancel as soon as you receive it. If you don't cancel it will still show up on your credit report with a $0 balance. If there is an annual fee you will have to pay that fee whether or not you use it. The fee is just for having the account. |
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emmanuel_vandmk
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As long as you do not use up any money that belongs to the back,you need not pay any of such money back.I see no major problem that could stop you from cancelling the card.
As for other charges,they might use administration charges against you.And that could be small. Get ready for prorated admin charges only.
I hope this information might be helpful
thanks |
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Sir Sidney Snot
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In the UK you get 14 days to cancel and credit agreement |
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♪DON♫
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That depends on type of suscribtion u have!!
if you have suscribed one which hasto be paid extra fees monthy,
or the one you pay 3% of suscribtion |
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jo
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Yes. You can cancel a credit card once you get it. If you do not use it you will not be charged anything unless there is an annual fee automatically charged to the account. None of my cards have annual fees. |
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Petunia
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just don't activate it |
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woodlands127
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Just don't activate it - cut it up and send it back to the company that sent it to you, they'll take the hint. |
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Bladerunner (Dave)
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As long as there are no monthly fees attached to the card and you have not used it, destroy the card and inform the company that you no longer wish to use it. |
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