What happens if I don't activate my credit card (after regretting the card)? Can I just walk away?
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- Опубликовано: 11 дек 2024
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When I closed a capital one card a fraud alert was put on my credit report for one year interesting video Adam so be careful
Love the content, Adam.
This exact situation happened to me this year when I applied for the AMEX Gold card back in February not realizing it had an annual fee. When I received the card, I immediately called AMEX and they were extremely friendly and closed the account and set me up with the Blue Cash Everyday card with no extra ding on my credit, and they only reported one open account to the credit bureaus. 😊
Amex allows card swaps without reporting a credit pull.usually you will keep same account (credit card)number.
*If you do not agree with the account terms within the first month you can write in to cancel or if you dealing with a nice issuer calling in may work too.*
Fascinating stuff. Thanks for sharing
Glad I watched your video. I'm going to activate my card tomorrow now.
A small part of this video is inaccurate - closed accounts continue to age on your credit report even after they are closed
Until it drops off in 7-10 years but yeah I agree. My younger sister still has a 670 score on credit karma even though I took her off my Discover card as an authorized user.
He's probably talking about initially, since average age does go down when the account first hits the credit reports. Then it continues to age till it falls off the credit reports.
@@CastroMKE I have credit card accounts that I closed back in 2009 that are still in my report but not revolving account. I just recently started using my credit again after a 13 year hiatus.. I couldn't get pre approvals a few months ago and went with discover secure and after a few months, I'm back at 795(fico) and starting to get offers as in the last week or two
Great content as always, thanks Adam!!!
I applied for credit cards changed my mind canceled without activities they're now on my Credit Report.
How are they showing up on your credit score please?
I activated my card but never used it, it was my newest card, I closed it today thinking it would have a positive effect on my credit, now im unsure whether I've done the wrong thing 😅
@fey8314 I was told once you're approved it's a open credit whether you activate it or not which doesn't make any sense. Because credit is established when card is used.
Hey Adam, I actually was able to cancel a Credit One card that had an annual fee before I activated it and they never charged me the fee. I called customer service and they claimed that the fee only gets charged once you activate it and make at least 1 purchase.
I had the exact same experience, glad to know I'm not the only one
It only ever showed up as a hard inquiry
I’m experiencing the same thing. Will it show on my credit report?
Very interesting topic, something I’ve never thought about, I have a Target debit card that I’ve never activated since Nov. 22, I wonder what’s going to happen?
I have a no annual fee credit card from a large, but local, credit union. I've had the card account for going on 5 years and in the past 7 months I've had a fraudulent charge and let them know. And then I had another fraudulent charge rather quickly on the replacement card. The replacement for the replacement card has arrived and I'm not activating it. I want to see if that gets a fraudulent charge as well😂 being unactivated. I'm really tired of that card because it is managed by a third party for the credit union and they seem to leave their customer data files open on their laptops when they go for Starbucks, so I don't care if they close it but I'm not closing it myself because I do other business with the CU.
Now, maybe with other people it’s true, but not with me just speaking for myself when I was first starting out rebuilding my credit I got a credit card with the annual fee about two days after I got it I regretted it never activated it contacted the bank told them I dont want it And I didn’t have to pay the annual fee because I didn’t activate the card and I didn’t charge anything on it so that’s my experience
I got an x1 card, did not activate, when I found out I have to use an app on my phone, I don't use any apps, also could not pay with checking account bill pay. After several rather rude emails from me with swear words, they finally closed the account.
You don’t use apps? Do you bank online? Or do you get paper statements and write checks?
Did you watch this video on a laptop or desktop?
@@jcarter9988 I don't use smart phones, very dangerous, still have a flip phone and very happy with it. Old farts like myself consider desktops for software and phones for apps. In the city of Shenzhen when I was teacher in China, they could use facial recognition to get your Chinese id number 17 digits unlike 9 for America, with your ID they would confiscate the fine for jaywalking 100 rmb about 13 dollars, from your we chat app because your phone had to be registered under your id number, the notice text thanking your for the fine and warning you it would double for a second offense, all this happens before you finished jaywalking 6 lanes across the road.
I did this with synchrony care credit when my dentist signed me up for it..I just never activated it after 6 months they cancelled it.
What if i want to active my never activated account
Thanks
I received a credit card that I didn't apply from credit one. How do I report to that.. Please
I applied because credit one said I was pre-approved for a 2000. Card. But I was sent a 400. Card with a 75.00 charge then 125. Per year. I didn't activate it, it has paper attached to it saying I'd be charged upon activation. I get a 75.oo bill in mail. I called I could barely understand her but she closed my account. It's not been a month even I got the bill two days ago. Do I have to pay 75.00. They lied I would have never applied for. a card with a 400. Limit that they got 75. Of the top. What to do.
You'd have to report that as fruad.
So they well keep on charging you the annual fee.. For years or just once?
Can you make a video?Can you make a video about dormant card? Cards that are inactive and classified as dormant but not yet shutdown. How long between dormant to closed? Is this dependent on low long you had the card? Do dormant cards still age? Does inactivity of dormant impact credit score in any way?
Chime sent me a credit biulder card but I dont want it do I have to activate it
No. It's good, though I went from no credit to a 690 in 6 months
People are delusional if they think the problem will magically disappear if they ignore the issue. Step up to the plate and take some responsibility for your
BAD decision making process.
This video cracked me up lol. 😂 I would normally say there aren't people that stupid out there, but would be very wrong. How the hell you accidentally sign up for a card, apply for card with surprise fees or annual fees, or get approved for a limit you don't like and decide to not activate it thinking it will just go away? If you're that stupid, you deserve to just pay in cash where no thinking is involved other than looking in your wallet for the required amount of dollars to get said items. Every credit card has their terms and conditions listing apr and fees that you're required to read through and agree to before being approved for. Being a dumbass doesn't excuse a person from their obligations. Most people applying for a card get limits less than what they want. Just keep using the card responsibly and most issuers will increase it over time. Stupid to pout like a little child because they didn't get their way.
This happened to me a year ago with Credit One (with an annual fee, glad i didnt keep the card, applied before i knew what i was doing)
I was getting moved around, the card was sent to the wrong address but i got so distracted with work that i forgot about it for a couple months
When i contacted Credit One to resend a new card they informed me that since i didnt activate it in 60 (maybe it was 90) days, they canceled the account and i would have to reapply to get another one
Only place it ever showed up on my credit was one hard enquiry with Experian
It doesnt show up as an account, delinquent payment for the annual fee, etc for any of the bureau's
So nothing happened but the hard pull? I’m going through this with credit one now because I got it but don’t want it and never activated it.
I just did the same I’m not going activate