NOT activating a new card
 

Assume I have applied and been accepted for a card that required a large amount of spend to get the points bonus.

The card comes and needs to be activated. Things have changed and I realize I'll never meet the required spend in the time frame required. Any ramifications of not activating the card? Or should I call them and say I've changed my mind?

The hard pull is done, and the account is open for the purposes of your credit record. Not activating the card vs. activating and spending $0 is pretty much equivalent, I believe. Correct me if I'm mistaken.

If there is an annual fee, not activating the card will not keep you from owing the fee. The account was open when you were approved, not activating the card only affects the ability of the card to be swiped, doe not change your obligation to pay the annual fee on the card. I would STRONGLY suggest you call the credit card company and cancel.

I used to work for a credit card company and I have seen many people get derogatory info reported on their credit report because they didn't pay their AF because they never activated the card.

Thanks!

As far as the timeframe for the minimum spend goes, it starts from the time you are approved, not from when you activate it. I know that wasn't exactly what you were asking, but just thought it could be helpful for other people to realize this. Don't want to get caught with having to spend a ton in the last 3 weeks because you thought it started at the activation date (spoken from experience)!

Yup, agree with posters above.

Although I was under the impression that the timeframe begins from the date of application, not approval, but either way, better start spending away!!

Just my 2¢...

Last year(about last november) my father applied for a Chase Marriott credit card because he was going to do a lot of travelling and that card would have gotten him some nice rewards...
Anyway, plans changed...sh*t happens...and he didn't need it anymore. The card had never been activated.

So when he called to cancel the card, the CSR told him that he was going to cancel it in such a way that it would no longer appear on his credit report and if he wanted to apply for the card again and the card came with a bonus offer, he'd be eligible for the offer.

Maybe you should try doing that. ^

Last year I had opened a CSP card and was told it would be 100,000 bonus when I called to activate it. I sent a SM comfirming that to Chase. They said no they weren't bumping it so I called back and cancelled after spending $400. When I cancelled they transfered me to the finacial dept. to have the hard credit pull taken off. They said it would be 30-60 days but pull would disappear and it did. They also told me that if it was less than 30 days you can always cancel and have the hard pull removed, I believe it was to do with the new laws on CC's? The big thing is talking to the finacial dept.

Activation is simply a security device to make certain that the card is physically in your hands. It has nothing to do with whether or not the account is open.

Failure to activate will also cause you long-term problems with the specific CC issuer because of security concerns having nothing to do with credit history.

First time I've heard about this. Will have to look into it!
thanks for the heads up!

Np hope it helps.

That's interesting. Did they delete the trade line from your credit report as well? I've never heard of this before.

Hmmmm... Who / What is the financial dept? I cancelled my card and talked to the "usual" people and was told I'd have to wait a full year before I could take advantage of another bonus offer. (this was for a business card)

On my credit report the CSP application does not show up. Not business, it was last year when they had the 100,000 bonus for a short time. :)

I believe longhorn11's question is whether the account itself is also removed from the credit report, together with the inquiry line.