Cancelling Credit Cards

[Sky_High]

Long story short, fucking TD bank signed me up for a Visa credit card without my approval. I called the customer service line immediately, and they said they can't cancel it. They said just don't activate it when it comes in the mail and call into the VISA centre cancel it

I read in the past if you sign up for too many credit cards and cancel them, it will affect your credit rating. People have been recommending you to just 'not use it'.

Questions is:
When the card does arrive in the mail, and I cancel it....will it affect my credit rating at all?

[Jgresch]

Just don't activate it.... it doesn't seem like they signed you up, just are sending you an offer? You would need to sign and give approval to actually be signed up.

[hirevtuner]

don't call in to activate it, destroy the card and that's the end of it

[Sky_High]

They "pre-approval" me already, and I clearly told the teller I don't want it. Nor do I even have any income.

Yet, he went ahead and signed me up for it. Call the customer service line...and they verified with me a card has been indeed requested for. But they "can't" cancel it as its "too late" even though it was less than 15 minutes apart.

They are probably just hoping I'll use their card at the end

[Jgresch]

Pre-approval doesn't mean yuo've signed up for it. It means you qualify.

[InvisibleSoul]

While it could affect credit rating, I highly doubt it'll affect it in any significant way without you actually using it and being in debt.

[Sky_High]

Originally Posted by Jgresch

Pre-approval doesn't mean yuo've signed up for it. It means you qualify.

This happened in branch. The teller told me I was pre-approval for it. I told him I don't want it...yet he still went ahead with it. Called the customer service line and they confirm a card was requested.

[jackmeister]

Originally Posted by Sky_High

This happened in branch. The teller told me I was pre-approval for it. I told him I don't want it...yet he still went ahead with it. Called the customer service line and they confirm a card was requested.

you should talk to their branch manager about that.

[Jgresch]

I get told I'm pre approved for cards, overdraft etc. whenever I go into the bank. tTey're just hoping you sign up for it when you recieve it. When you get the card in the mail you won't be able to use it, you would need to activate it, as well as sign for it. When it comes just cut it up and throw it out. It won't affect anything.

[1.7El_guy]

Even if you are pre-approved for the card, you would need to sign a form for a record that you indeed requested for the card. If you did not sign any form, i would advise you to speak to their branch manager like a fellow revscener suggested.

[Sky_High]

Originally Posted by 1.7El_guy

Even if you are pre-approved for the card, you would need to sign a form for a record that you indeed requested for the card. If you did not sign any form, i would advise you to speak to their branch manager like a fellow revscener suggested.

That's what I thought too....I didn't sign anything.
Yet, when I phoned in the customer service to confirm...they said yup, a credit card is already it's way in the mail.

[Drow]

Well go tell the manager then.

[iam_dan]

same thing happened to me at a BMO booth. they sent me TWO different cards when i specifically asked for them to send me INFORMATION ONLY, regarding these cards.

i did a credit check with equifax recently, and found that those 2 cards had sent a request for credit check on my record.

this was about 2 years ago though. i just called BMO and yelled at them for 15 minutes, then i cut up the cards.

credit checks do lower your scores slightly if i remember correctly..but in the long run, its not a really big deal.

[Mining]

I think you are overreacting to this. you were pre-approved which mean you qualified, like I was. you don't need any income and this doesn't cost you a dime at all. i think it's about time you build up your credit rating anyway. and no this doesn't affect your credit rating.

if you still don't want it, when it arrives in the mail (still deactivated), take it to your branch and tell them you don't want it near you at all costs because you think it's the devil.

[i-VTEC]

Originally Posted by iam_dan

same thing happened to me at a BMO booth. they sent me TWO different cards when i specifically asked for them to send me INFORMATION ONLY, regarding these cards.

i did a credit check with equifax recently, and found that those 2 cards had sent a request for credit check on my record.

this was about 2 years ago though. i just called BMO and yelled at them for 15 minutes, then i cut up the cards.

credit checks do lower your scores slightly if i remember correctly..but in the long run, its not a really big deal.

I have talked with a RBC credit person, she said on average people get 4 or 5 credit check per year. As long as you are there or below that amount then it wont affect your credit rating

[wouwou]

Yourself checking for CS won't impact the score, but if a Financial did one, your score will hurt if its done too frequent.

That being said, once a financial institute "checks" your CS, you have 28 days to have multiple Financial Institute to check your CS wihtout negatively impacting your CS as it is considered "shopping for credit" and it's a normal practice for a typical consumer.

I will personally not worry about your CS getting hit, but more concerned that CSR went ahead and order cards without your approval, that's borderline fraud.