Ask Terry Questions credit card/credit rating

credit card/credit rating

By Terry Savage on January 25, 2019 | Credit/Debt

I recently signed up for a card offering 0% interest for 18months for dental work. Unbeknown to me at the time, the special rate is ONLY for balance transfers, not new purchases. I don’t want the card now, but I realize it’s too late. Will not activating affect my credit rating in any way? Should I activate it and charge a small amount to pay off immediately? I had an excellent credit score and I don’t want it to decrease just because I just opened two new credit cards (the other one is specifically for medical and comes with 0% for 1 year).

Terry Says

Ha!  Glad you caught that detail before you activated it.  Don’t activate it — and contact the card issuer to advise them that you’ve changed your mind.  Because it was not activated, it likely won’t show up on your credit report at all. And do your best to pay off the balance on the new card.



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