What happens if I don't activate my card?

iguanapunk

I have been approved a Tesco 0% interest for 15 months credit card which I recieved today. If I don't activate it and use it, will this go against me?

I wish they taught me this kind of stuff in school rather than learning the volume of a scalene triangle. I'm new to all of this, thanks.

camuk81

You've already got the card so the credit file is open now.

They need activation to confirm they have arrived. I'm guessing from the computer discussion this is your first card. Keep it safe don't go and spend it all i.e. stick it in the freezer!

This will actually be a bonus creditors will see you as better with a line of credit you are not using

wadewadewade

Cam's answer seems pretty spot on - however, why would you get it then not activate it?

iguanapunk

wadewadewade wrote: »

Cam's answer seems pretty spot on - however, why would you get it then not activate it?

Because now I have it, I realise I am too dumb to use it. I know I will make a stupid mistake and end up paying interest and having to sell my right kidney to a shady Chinese man.

So just to confirm: If I leave it and not activate my card, I will not have a mark against my name?

camuk81

Iguana,

The card is now opened. Don't think of it as a mark but your line of credit is now open to show you as responsible borrower.

The activation is to ensure you are in ownership of the card. If you choose to shred the card that is your choice.

Check your terms and conditions make sure there are no fee's and then shred it. In months when you have spent nothing then you can close and it will be a big plus on credit file. On the other side the longer it stays open the responsible a lender.

However you are covered by the 14 days rule so you can close it down if you don't want it.

If you wish to keep it open for credit file purposes don't just discard statement check to make sure there hasn't been any use then shred

camuk81

The 14 day rule is the cooling off period all creditors must provide by law

spadoosh

I was under the impression that if you had access to credit and didnt use it, you were seen as a bad borrower. A bank will make no money from you and as such are highly unlikely to want to deal with you?!

OP ignore this ^^^^^ Im not 100% not even 51% its true was merely asking the question out of personal interest.

Buzby

Perhaps internally (at the CC company) but not on your credit file. The fact you are not profitable to a bank is their look-out, but you cannot be dammed for using credit to your advantage.

iguanapunk

Ok, I activated my card and created an online account with Tesco so I can view my credit card transactions online. They have to send me a letter with a MAC code on it before I can set up DirectDebits etc if I choose to use it.

camuk81

Mac code is nothing scary it just verifies who you are, I had to do that for my work credit card.

Now the choice remains which freezer drawer is it going in so you don't spend on it!

iguanapunk

camuk81 wrote: »

Mac code is nothing scary it just verifies who you are, I had to do that for my work credit card.

Now the choice remains which freezer drawer is it going in so you don't spend on it!

Well I am a big fan of food so I am always frequenting the freezer for meat so the card would have to placed somewhere where I don't visit very often, like the private parts of a lady perhaps.