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what happens if you don't activate your credit card?
Manage episode 320969216 series 3313998
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Did you make an impulsive decision to get the best credit card and are now regretting it? maybe the financial freedom of shopping at your favorite merchandise store lured you into the mix. or maybe you were unable to gauge the emotional implications of carrying it around.
whatever the case, here is how the activation process usually boils down to:
- you receive a new credit card via mail.
- the documents instruct you to call a toll-free number or visit a website.
- post successful identification, you confirm that you have received the card.
- the card is subsequently activated and ready to be used.
- affect of credit card applications
- canceling a credit card before activation
Click on this link to get the details:- https://cardinsider.tumblr.com/post/675690265926926336/in-this-infographic-you-will-get-to-know-about
Alternative strategy
If your bank does not charge you any annual fees for the credit card, an alternative strategy to deal with an unwanted credit card is to actually activate the card and lock it away. in this way:
- you will have a higher unutilized credit limit.
- a significantly lower credit utilization ratio.
- higher average credit account age over time.
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