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MKHong1

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My dillema with an unsused/unactivated card
Hi, I'm 30 yrs old and i have a credit score of 660 due to mistakes i made during my adolescent years. However, for the past 3 years i've really been conscious about my score. Got approved by a credit union for a $500 limit card that i've been paying for almost 3 years without missing payments and at times a week early. I saw my credit improve but not dramatically. I didnt expect it to.

I called a couple months ago to have my limit increased because i felt i deserved it and they approved for a $1500 limit. Not much, but something. So, this past August i had this great idea of applying for Barclays card to reap rewards while i use my card. I got approved for a $1300 limit card. Since i received the card i saw my credit dip bc it lowered my age of credit history by half! I felt buyers remorse and never activated it. I just wanted it to go away. I figured it will just cancel itself after a period of inactivity. Not the case, i realized that i will have to call to cancel. (Really learning as i go...)

And then, this past week i saw my credit jump 90+ points and i'm now sitting on a 750 credit score. Not sure what i did or how that happened. So now, i'm all kinds of confused as to what to do with this Barclays card. Should i just leave it as is or cancel. It has no Annual Fee so i dont owe anything unless i use it. Is it healthy to just let an unsused card sit in my records?

Any advice will help. I am an amateur but im realizing that credit is life and i want to do everything i can to help it.

Thanks for reading.

MH
Jan 16, 2014 | Reply |

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Thanks for your thoughtful question and great response Ficoagnostic.

Do you know if your card was reported to the credit monitoring bureaus? If it is, than it doesn't matter if it's been activated or not, it's still open. Since it sounds like your account is still open, closing the account will hurt your score.

Barclay's is a great card. Let the card grow with you in your journey

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