Canceling Credit cards...
 

Hey guys,

Don't know where to write this, so mods can move this thread if need be.

I applied for an MC delta (Canada) way back in April. I called in July to see what's up with the card. They said that I was approved in June (yeah, a whole 2 months!) and the card was sent to me but returned. They sent it to the wrong address. After going over some details, some of the original signup bonuses where no longer honored. I told them I don't want the card anymore...

I read somewhere on FT that canceling cards early affects your score. Is it true?By how much? Even though I didn't even get the card, wasn't charged anything, the account was active and I even got my first statement reflecting a zero balance (after the letter that I closed the account).

How can I reverse this if my credit score did take a hit?
Thanks,

Phil

Canceling Credit cards...
 

There is no way to reverse the credit score as it has already taken a hit.

Virtually all of the advice on this board is for US credit scores and credit cards. The system will be different in Canada. There is an occasional thread on Canadian cards, though.

I don't know what the Canadian policies are. However, I do know that the banks do not take as many risks as the US banks do. That is why you did not have the big financial collapse that we did in 2008.