Not activating a CC Any Ramifications??

[breakNegg]

I have decided I applied for and was accepted for a CC that I do not want now. can anyone tell me what the ramifications if any, are for not activating the card. Can I cancel this card when it arrives?? and what overall affect would it have on my Veda??

I am considering some CC churning for points but have no real need for loans in the near future.

I currently have a high Veda score.

Cheers in advance for any advice.

 

[trippin_the_rift]

If you don't activate it you won't pay an annual fee (as these are activated on spend) but your credit rating would have already taken a hit so not activating it won't have any impact on your score because it's already had an impact!

 

[UP4014]

You're credit rating would have been adjusted. If you don't want it silly to activate it.

I've certainly cancelled a cc without activating and without it having any negative effect on credit scores.

 

[burmans]

I've certainly cancelled a cc without activating and without it having any negative effect on credit scores.

Not sure how this can be given the bureau pull occurs on application not activation. In fact under the old rules (which most credit providers are still operating under) the bureau never knew whether you had received, activated or still had the card.

 

[UP4014]

Not sure how this can be given the bureau pull occurs on application not activation. In fact under the old rules (which most credit providers are still operating under) the bureau never knew whether you had received, activated or still had the card.

And if you look at my first line.........

It just hasn't effected me which is good.

 

[blueythecat]

I've cancelled a credit card before without activating it. The application was recorded on my credit files, as you'd expect, and my credit score adjusted accordingly, apart from that though no other ramifications (also as you'd expect).

If you don't want it and there is no benefit to you in activating it (eg a sign-on bonus), I wouldn't activate it.

 

[smartblaa]

can anyone tell me what the ramifications if any, are for not activating the card
.

Along with what the others have already said. I'll just add that you need to be aware that cards in many cases can be used for the first couple of transactions even without prior activation. [just in case you left it lying around the house!]