Credit cards are a common form of payment, and with the rise of digital banking, many people have multiple credit cards from different banks. However, sometimes, we may end up with a credit card that we never activated or even received. This can be due to various reasons such as misplacement of the physical card, forgetting to activate it online, or receiving an extra card without realizing it. In this article, we will explore whether you can cancel a credit card you never activated and what steps you need to take if you decide to do so.
The first thing to understand is that not all credit cards require activation. Some banks offer instant approval for their cards, meaning they are ready to use as soon as they are issued. If you fall into this category, you might wonder if you can cancel the card before using it. The answer is yes, but there are some important considerations to keep in mind.
When you apply for a credit card, the bank will perform a credit check to determine your eligibility. This check includes looking at your credit history, income, and other factors. If you never activate the card, the bank may still consider you for future applications based on the information they have on file. Therefore, canceling a card you never activated might affect your credit score negatively if you apply for another card within a short period.
To cancel a credit card you never activated, follow these steps:
- Contact the Bank: The first step is to contact your bank or credit card issuer directly. You can usually find their customer service number on their website or through their app. Be prepared to provide them with your account details and explain why you want to cancel the card.
- Request Cancellation: Once you speak with a representative, ask them to cancel the card. They may ask you to verify your identity by providing additional information or answering security questions.
- Wait for Card Deletion: After you request cancellation, it may take a few days for the card to be completely deleted from your account. During this time, avoid using the card or attempting to reactivate it online.
- Check Your Credit Report: After the card has been cancelled, monitor your credit report to ensure that the cancellation was successful and no new accounts were opened in your name. You can do this by ordering your free credit report from one of the three major credit reporting agencies (Equifax, Experian, and TransUnion).
It's important to note that not all banks allow you to cancel a card you never activated. Some banks may require you to call them and request a replacement card instead. Additionally, if you have already used the card once, it may not be possible to cancel it, as the bank would have already processed the transaction and added it to your credit history.
In conclusion, if you have a credit card that you never activated, you can generally cancel it by contacting your bank or credit card issuer. However, keep in mind that canceling a card you never activated could potentially impact your credit score if you apply for another card within a short period. Always review your options carefully and consult with a financial advisor if you have any concerns about your credit health.