Cancelling a Credit Card Before Activation
Author: jl526
Posted: Sat Aug 19, 2006 8:23 pm
Post subject: Canceling a CC before it's activated.
Hi everyone. I had a question about the possibility of canceling a credit card before it's even activated. Just to give you a little background info, I'm in the process of rebuilding my credit. I've had an Orchard Bank card for over 9 mos now that is being paid in full religiously; now I've been getting offers left and right from the typical "high risks" CC companies. Well, I sent in the mail for a First Premier Plat card, despite the high fees I fig'd that's the price to pay to rebuild credit plus I was looking for the Plat perks. Well, come to find out that the next day Orchard sends me a preapproval for a Plat card which I got instant approval for online. I just called First Premier's automated info line and found out I got approved for that too. I'm expecting not too high of a credit limit w/ FP, plus the high fees will only leave me with maybe a dozen dollars left of credit. Since I probably won't need it, is it possible to cancel this card before it's activated and NOT get charged the $29 fee, $95 fee, $48 fee.. etc, etc.... that I'd have to be responsible for, but since it's not activated I can get out of the deal???
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hdporter
Posted: Sun Aug 20, 2006 11:22 am
Post subject:
My experience with a C1 account opening was just that. I applied for a new account and received one with a $300 limit. I didn't have much use for it so I called and cancelled, without activating it. They closed it and told me to destroy the card. End of story. The account reported for a couple of months on my bureau reports.
Author: kellyashleymandy
Posted: Mon Aug 21, 2006 11:23 pm
Post subject:
You agree to the terms and conditions for a credit card when you use it. Even if you activate the card you can still turn around and cancel it without any problems, you would need to close the acct before you use it. if you use it even once for even 1.00 you are stuck with the fees. Call the bank as soon as you get it tell them you changed your mind and want to cancel it. Be Careful they will try to tell you a million reasons why you should keep it. just say No and tell them to credit the account until the account shows as zero balance
_________________
work for cc co. pls ask questions
Author: mouse
Posted: Mon Aug 21, 2006 11:26 pm
Post subject: Re: Canceling a CC before it's activated.
Quote:
"jl526"
Hi everyone. I had a question about the possibility of canceling a credit card before it's even activated. Just to give you a little background info, I'm in the process of rebuilding my credit. I've had an Orchard Bank card for over 9 mos now that is being paid in full religiously; now I've been getting offers left and right from the typical "high risks" CC companies. Well, I sent in the mail for a First Premier Plat card, despite the high fees I fig'd that's the price to pay to rebuild credit plus I was looking for the Plat perks. Well, come to find out that the next day Orchard sends me a preapproval for a Plat card which I got instant approval for online. I just called First Premier's automated info line and found out I got approved for that too. I'm expecting not too high of a credit limit w/ FP, plus the high fees will only leave me with maybe a dozen dollars left of credit. Since I probably won't need it, is it possible to cancel this card before it's activated and NOT get charged the $29 fee, $95 fee, $48 fee.. etc, etc.... that I'd have to be responsible for, but since it's not activated I can get out of the deal???
TIA
Jason
DON'T ACCEPT THE OFFER
THEY HAVE TO CREDIT 100% OF THE FEES AND SEND YOU ON YOUR WAY
YOU STILL HAVE THE HARD(s)
ACTIVATING A CARD TELLS THEM YOU GOT IT IN THE US MAIL
(nothing more)
Author: Bikshu
Posted: Tue Aug 22, 2006 4:45 am
Post subject:
What fees are you being charged for?
Are they BT fees on transfers you requested when applying for the card? If so, and if the BT already posted, then you are responsible whether you activated the card or not. Because you requested the transfer and never cancelled it prior to its posting, it qualifies as an official transaction. Thus, it implies automatic acceptance of the full terms and conditions of the card. Now the bank may offer to credit them back, but in this case they often will not and are in no way required to.
If they are annual fees, account maintenance fees, or some other similar garbage you should be fine. This type of fee is more an internal bank charge, rather than an actual transaction. Therefore, typically this does not imply that you officially accepted the terms and conditions of the account. Most banks would be hard pressed not to refund these fees, provided you never actually used the card.
Kellyashleymandy is correct that activation truly is meaningless when it comes to credit card law. Most of the time you will even receive the card in the mail a few days before you receive the credit card agreement. This is a nice trick banks have developed to induce you accept the terms before you have an opportunity to review them. Activation of a card is so worthless now that many banks will automatically activate a card after a set period of time if you fail to call in to do it yourself.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sat Aug 19, 2006 8:23 pm
Post subject: Canceling a CC before it's activated.
Hi everyone. I had a question about the possibility of canceling a credit card before it's even activated. Just to give you a little background info, I'm in the process of rebuilding my credit. I've had an Orchard Bank card for over 9 mos now that is being paid in full religiously; now I've been getting offers left and right from the typical "high risks" CC companies. Well, I sent in the mail for a First Premier Plat card, despite the high fees I fig'd that's the price to pay to rebuild credit plus I was looking for the Plat perks. Well, come to find out that the next day Orchard sends me a preapproval for a Plat card which I got instant approval for online. I just called First Premier's automated info line and found out I got approved for that too. I'm expecting not too high of a credit limit w/ FP, plus the high fees will only leave me with maybe a dozen dollars left of credit. Since I probably won't need it, is it possible to cancel this card before it's activated and NOT get charged the $29 fee, $95 fee, $48 fee.. etc, etc.... that I'd have to be responsible for, but since it's not activated I can get out of the deal???
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: hdporter
Posted: Sun Aug 20, 2006 11:22 am
Post subject:
My experience with a C1 account opening was just that. I applied for a new account and received one with a $300 limit. I didn't have much use for it so I called and cancelled, without activating it. They closed it and told me to destroy the card. End of story. The account reported for a couple of months on my bureau reports.
Author: kellyashleymandy
Posted: Mon Aug 21, 2006 11:23 pm
Post subject:
You agree to the terms and conditions for a credit card when you use it. Even if you activate the card you can still turn around and cancel it without any problems, you would need to close the acct before you use it. if you use it even once for even 1.00 you are stuck with the fees. Call the bank as soon as you get it tell them you changed your mind and want to cancel it. Be Careful they will try to tell you a million reasons why you should keep it. just say No and tell them to credit the account until the account shows as zero balance
_________________
work for cc co. pls ask questions
Author: mouse
Posted: Mon Aug 21, 2006 11:26 pm
Post subject: Re: Canceling a CC before it's activated.
Quote:
"jl526"
Hi everyone. I had a question about the possibility of canceling a credit card before it's even activated. Just to give you a little background info, I'm in the process of rebuilding my credit. I've had an Orchard Bank card for over 9 mos now that is being paid in full religiously; now I've been getting offers left and right from the typical "high risks" CC companies. Well, I sent in the mail for a First Premier Plat card, despite the high fees I fig'd that's the price to pay to rebuild credit plus I was looking for the Plat perks. Well, come to find out that the next day Orchard sends me a preapproval for a Plat card which I got instant approval for online. I just called First Premier's automated info line and found out I got approved for that too. I'm expecting not too high of a credit limit w/ FP, plus the high fees will only leave me with maybe a dozen dollars left of credit. Since I probably won't need it, is it possible to cancel this card before it's activated and NOT get charged the $29 fee, $95 fee, $48 fee.. etc, etc.... that I'd have to be responsible for, but since it's not activated I can get out of the deal???
TIA
Jason
DON'T ACCEPT THE OFFER
THEY HAVE TO CREDIT 100% OF THE FEES AND SEND YOU ON YOUR WAY
YOU STILL HAVE THE HARD(s)
ACTIVATING A CARD TELLS THEM YOU GOT IT IN THE US MAIL
(nothing more)
Author: Bikshu
Posted: Tue Aug 22, 2006 4:45 am
Post subject:
What fees are you being charged for?
Are they BT fees on transfers you requested when applying for the card? If so, and if the BT already posted, then you are responsible whether you activated the card or not. Because you requested the transfer and never cancelled it prior to its posting, it qualifies as an official transaction. Thus, it implies automatic acceptance of the full terms and conditions of the card. Now the bank may offer to credit them back, but in this case they often will not and are in no way required to.
If they are annual fees, account maintenance fees, or some other similar garbage you should be fine. This type of fee is more an internal bank charge, rather than an actual transaction. Therefore, typically this does not imply that you officially accepted the terms and conditions of the account. Most banks would be hard pressed not to refund these fees, provided you never actually used the card.
Kellyashleymandy is correct that activation truly is meaningless when it comes to credit card law. Most of the time you will even receive the card in the mail a few days before you receive the credit card agreement. This is a nice trick banks have developed to induce you accept the terms before you have an opportunity to review them. Activation of a card is so worthless now that many banks will automatically activate a card after a set period of time if you fail to call in to do it yourself.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 8:00 PM
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