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Question By
lvbill

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If not satisfied with the terms & don't take approved card will this create a negative credit report
To be more specific, when I am approved for a credit card and If I am not satisfied with the APR rate or the credit line that was approved; what happens if I don't accept the card, will this create a derogatory report on my credit bureaus?

I was told by CitiBank that I would have to apply FIRST to find out what the APR is and the credit line. If I don't like the terms I then would have to "close the account".

If this happens and don't accept there terms and DON"t accept the card, HOW will this affect my credit reports now that and inquiry was run and I opened and closed an account in 10 days or less {the processing time}.

I know that I will be accepted, I am just not sure if the terms will be to my liking. How is it that a card holder cannot give your the terms before you agree. I understand the they have to run a credit check and to determine my creditworthiness first.

All I'm askiing is that I think it would be fair if the consumer was able to determine what the terms of the card are before he is FULLY committed and if he chooses to not take the card that he is penalized on his credit reports for the inquirer and the new closed acct!

Any HELP would be GREATLY appreciated....

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