Applied for 2 Cards. Now only need one!

mini_lidi

Cut a long story short...
I have a CC with £5500 and wanted to balance transfer the amount to a £0 intrest card.
Applied for 2 cards as thought I might not get high enough limit on one, so would split the £5500 between 2 cards.
Virgin accepted and gave me a £6550 limit on 0%. Sainsburys have now contacted me saying "Thank you for your application. Your credit agreement will arrive in the next 4 days. To receive your card and PIN, please sign it and return to us."

If I don't sign the agreement I won't get the card (I don't want it) or is it better to call them and tell them to cancel the application?

smithers1981

Which card has lowest fee for balance transfer?

mini_lidi

Both have 0% and 0% fee for 18 months
Sains - http://www.sainsburysbank.co.uk/credit_cards/low-bt-fee-card-card.shtml?source=NETCCZONEREFUNDS0001

Virgin- https://creditcards.virginmoney.com/VM_InstantApp/application/documents/summary/VM9458.pdf

Debt is £5500. Worked out I will pay £550 a month so debt will be cleared in 10 months. Card will be given to my parents so I won't be able to use etx

Gouki7851

Well as you have already had the hard search I personally would sign and once card comes give to your parents. You never know, they may offer you a future 0% that could become invaluable should you not be able to make the virgin payments as expected. It's a backup and a utilisation reducer, obviously it also depends on income/availability which only you know, which may be an issue.

mini_lidi

Ok that sounds good but if I don't want this card at all now

Will I do more damage to my credit score by calling them and cancelling the card before I have signed the credit agreement? Or by just not returning the agreement?