Canceling a card BEFORE activating?

[rjx]

I received an offer from Credit One bank http://www.creditonebank.com/ and I accepted online and they sent me the card. A few days later they sent me my first bill since this was one of those cards that make you pay for enrollment (my first card of this nature).

From my understanding, I will need to pay what they billed me, even though I did NOT activate the card yet? OK, in that case, that is fine. That is my fault for accepting and I will pay asap.

I have decided that I want nothing to do with this bank (I know, its a little late for that) and my question is, what happens to my credit if I cancel an account that I just opened? Would that be a negative for me? Or would it not matter as long as I payed the account and didn't owe anything?


Thanks


PS

I was ok with the agreement and terms of this card before accepting. BUT that was before I found this forum and since then I have determined that I would not have bothered with this bank had I found this forum prior to receiving the card offer. I know much more now than I did just a month ago thanks to this forum.

[tinroofrusted]

I received an offer from Credit One bank http://www.creditonebank.com/ and I accepted online and they sent me the card. A few days later they sent me my first bill since this was one of those cards that make you pay for enrollment (my first card of this nature).

From my understanding, I will need to pay what they billed me, even though I did NOT activate the card yet? OK, in that case, that is fine. That is my fault for accepting and I will pay asap.

I have decided that I want nothing to do with this bank (I know, its a little late for that) and my question is, what happens to my credit if I cancel an account that I just opened? Would that be a negative for me? Or would it not matter as long as I payed the account and didn't owe anything?


Thanks


PS

I was ok with the agreement and terms of this card before accepting. BUT that was before I found this forum and since then I have determined that I would not have bothered with this bank had I found this forum prior to receiving the card offer. I know much more now than I did just a month ago thanks to this forum.

Here's what I have done for a couple of those things:

I called to get my Cl from them, found out it wasn't worth a dime, and canceled on the spot. Though the line of credit showed up on my credit report, after a few days it was completely gone.... I never used the card, and didn't want it.

Hope this helps!

[HHM]

The effect would be incremetal at best...it is not of any significance.

[rjx]

Thanks so much for the replies.

I just got off the phone with a representative of Credit One and canceled successfully.

She said that I should disregard the statement that I have received, and my future statement shall I receive one.

She said it will show on my credit report that I applied for the card but it will not show as anything else.


Thanks again.

[FilingOnMyOwn]

Yup, you can cancel if you don't want it. Legally, unless you activated the card, you've never accepted it.

[CindyLou]

Same thing happened to me but they were suprisingly helpful. I called and they cancelled the card. The account had actually showed up on my credit report right when they sent the first bill. But because I didn't activate or use the card; they cancelled it out and the account completely disappeared off my reports.