Personal Finance

Cancelling CC right after approval..

  • Last Updated:
  • Dec 15th, 2013 6:46 pm
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Sr. Member
Jul 19, 2007
826 posts
132 upvotes
apoorv wrote:
Dec 14th, 2013 8:43 pm
What about ending up applying for 2 cards in such quick succession? I mean, I have a decent credit score but still..
Don't worry about it, around a 4 point loss on credit score which will bounce back.

2 is nothing, 10 + is a different story.
Deal Addict
Dec 13, 2007
1489 posts
47 upvotes
Toronto
farmand wrote:
Dec 15th, 2013 1:25 pm
This is irresponsible imo. If there's a wrong information on your Equifax or TU, or what about identity thieft? It's a prevention matter. Le me tell you, you would have a different opinion if wou were declined for a rent, a car loan, or a cell contract...
Are you serious? So it is my responsibility to Ensure EF and TU have correct info on me? That's ridiculous. Identity theft? If I apply for mortgage, sure, I'll make sure in advance everything is dandy, just because so much is at stake, but that does not mean I'm going to have second thoughts about closing CC that I don't need the other 90% of the time that I don't apply for mortgage.
Deal Fanatic
Apr 16, 2007
7059 posts
1963 upvotes
Financial District B…
Conquistador wrote:
Dec 14th, 2013 10:47 pm
You can forget about credit scores and live your life without worrying about such ridiculously petty things. Credit scores are waaaaaaaaaaaaay overblown.
slavka012 wrote:
Dec 15th, 2013 10:38 am

I can't believe so many people obsess about credit score. Geez, I don't know what is mine.
Not all score value qualifiers mean the same and may underwrite differently from one credit product to another. Revolving credit card products underwrite with generous scale while LOC's and personal loans are very narrow. Score values are most important when applying for these.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
Newbie
Jun 3, 2013
72 posts
12 upvotes
slavka012 wrote:
Dec 15th, 2013 5:14 pm
Are you serious? So it is my responsibility to Ensure EF and TU have correct info on me?
Yes dude!!
[OP]
Deal Addict
Jan 2, 2013
1049 posts
132 upvotes
Mississauga
CM52 wrote:
Dec 15th, 2013 10:19 am
Besides, with a decent spend they'll upgrade you to the world soon enough anyways which lifts the $1250 limit.
This is the MBNA Rewards World Elite, correct?
What kind of spend is needed for this?

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