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nicoledragon

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Will closing credit card immediately after approval negatively affect my score?
I was just approved for a credit card about 30 minutes ago but I made a mistake and do not want the one I applied for but it's too late, they would not let me cancel. i ordered it to try and improve my credit. Will closing it immediately before I use it negatively affect my credit score? thank you!

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Temp Drop

IMO, if you close the account within 30 days of opening it, you will see a temporary score drop.  You will see a drop from the hard inquiry (usually 10-15 points). I would suggest that you don't purchase anything with the new card. Shred it and call the company to cancel.  This should do minimal damage. I don't know if the age of your credit will drop--contact the credit card company to see if they will report it to the 3 credit bureaus.

I have closed an account within 30 days of opening it without making a purchase and it did not show up on my credit report.  This was about 5 years ago so I don't know if this would be true now. 

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