Disagreeing to a credit card terms and conditions 14 day cool off.

Chama98

Hi all.

Quick question. I applied for a credit card and have the terms and conditions. I have a 14 day cool off period where I can change my mind.

If I change my mind or not agree with the terms and conditions will my decision affect my credit score?

Many thanks.

eskbanker

There are pluses and minuses - the credit search conducted during the application will remain on your file, but if you don't go ahead then your available credit won't be increased as would have happened.

bengal-stripe

Presumably a credit search has been carried-out already. Any search will (temporarily) affect your credit rating.

Don't have dozens of searches, as it will bring your ratings down.

agrinnall

Most cards will make their general T&Cs available online so you'd be best to do your research before applying if you think you might disagree with something.

saver861

Out of interest .... are you just merely asking the question or do you have something specific in the T&C's that you actually don't agree with? If so, what is it that is causing you the problem?

DCFC79

Chama98 wrote: »

Hi all.

Quick question. I applied for a credit card and have the terms and conditions. I have a 14 day cool off period where I can change my mind.

If I change my mind or not agree with the terms and conditions will my decision affect my credit score?

Many thanks.

It may affect your score but don't worry about it as luckily only you can see the score. If your that worried ask Experian or whoever provided the score of they will give you a credit card.

Chama98

Well I applied for credit and got a better deal then the credit card.

Thanks everyone for your help.

Steve059

Chama98 wrote: »

Well I applied for credit and got a better deal then the credit card. <snip>

What's that got to do with the T&Cs per se?

saver861

Chama98 wrote: »

Well I applied for credit and got a better deal then the credit card.

Thanks everyone for your help.

No other info forthcoming regarding the T&C's problem?

Or were you using the non agreement as a means to get out of the arrangement for the better credit deal?

If so, you don't have to find something wrong with the T&C's - you can just cancel within the 14 day period without having to offer any explanation.

chattychappy

saver861 wrote: »

No other info forthcoming regarding the T&C's problem? [...]If so, you don't have to find something wrong with the T&C's - you can just cancel within the 14 day period without having to offer any explanation.

The OP did originally say:

Chama98 wrote: »

If I change my mind or not agree with the terms and conditions will my decision affect my credit score?

(emphasis added)

Anthorn

Chama98 wrote: »

Hi all.

Quick question. I applied for a credit card and have the terms and conditions. I have a 14 day cool off period where I can change my mind.

If I change my mind or not agree with the terms and conditions will my decision affect my credit score?

Many thanks.

Unlikely to affect your credit history.

Pay off what you owe and close it. In due course the account will change to a "settled" flag if the account indeed was placed on your credit history that quickly. Settled accounts don't adversely affect your credit history. Quite the reverse in fact. What remains on your account for a year though is the credit search and too many of those will adversely affect your credit history.

A credit score is what a lender does to assess your application. You don't have a permanent credit score which applies to all lenders.