Do I have to accept a credit card if I was approved?

For just about anything you want to get off your chest about credit cards.
4 posts
laurenva
 
Posts: 2
Joined: Sun Jul 10, 2011 9:59 pm
Location: va

Do I have to accept a credit card if I was approved?

Postby laurenva » Sun Jul 10, 2011 10:06 pm

Out of curiosity I applied for a Capital One Visa online. I naively filled out the application online to see if i would even be approved assuming it would tell me a credit line should I wish to accept the offer. Now I'm being told I will be sent a welcome package in the mail in 7-10 days!

I do not want this card. I was truly trying to figure out if I would even be approved and didn't realize this meant a credit card account with Capital One would be created in my name/ssn when/if I was approved.

My question- What do I do now? I have no intention of activating the card when it arrives but I don't know what that will mean in regards to my credit report, etc? Should I cancel the card? Let it go inactive? What is the best way to "fix" this.

Please some advise for a naive early 20something who (probably) should have known better!!


Capital
Gold Member
Gold Member
 
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Joined: Thu Jun 16, 2011 9:13 pm
Location: Vancouver, British Columbia

Postby Capital » Mon Jul 11, 2011 2:59 pm

Once you activate the card, you accept the terms and condition for using the card and consequently, an account is opened in your name. Just don't activate the card.

laurenva
 
Posts: 2
Joined: Sun Jul 10, 2011 9:59 pm
Location: va

Postby laurenva » Mon Jul 11, 2011 4:40 pm

@Captial- thank you. Like I said I have NO intention of activating the card. Lesson learned I guess!

Meltdownblitz
Centurion Member
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Joined: Fri Jun 03, 2011 11:42 pm
Location: United States

Postby Meltdownblitz » Mon Jul 11, 2011 8:09 pm

Well what don't you like about the card? You already have another hard inquiry on your CR from it.



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