0% credit card offer expired

stewartf63

Hi all, applied for a credit card to help pay for a kitchen that was due to start in March. Delays with builder means start date is now July. My 60 day window to take advantage of 0% on purchases offer has expired - credit card company won't extend the offer. Will my credit score be adversely affected? The card will be cancelled - it's not been used. Thanks in advance, Stewart

termhero

Can't see why, I think this would actually improve your score as you had the option of credit, and showed restraint and didn't use it.


(The reason for doing so, delays with the builder, aren't relevant).


Just my personal view, I'm not a Financial Advisor or anything.

Willing2Learn

Forget about your score as lenders neither see it nor use it. Lenders score you against their own independent criteria and policies using the data held in your credit files, added to the data you submit in a credit application, added to the data they may already hold on you as an existing or returning customer.

[Deleted User]

stewartf63 wrote: »

Hi all, applied for a credit card to help pay for a kitchen that was due to start in March. Delays with builder means start date is now July. My 60 day window to take advantage of 0% on purchases offer has expired - credit card company won't extend the offer. Will my credit score be adversely affected? The card will be cancelled - it's not been used. Thanks in advance, Stewart

You don't have a score to be affected.

Does the builder even take credit cards as a payment - did you confirm that as well?

Keep the card and just use it as you would normally use a credit card going forwards - unless you have an absolutely compelling reason to cancel it

Candyapple

!!! wrote: »

Does the builder even take credit cards as a payment - did you confirm that as well?

My guess is theirs was a money transfer card as they tend to only offer that for the first 60 days only and that's how they intended to pay the builders.

!!! wrote: »

Keep the card and just use it as you would normally use a credit card going forwards - unless you have an absolutely compelling reason to cancel it

I would disagree with this, I'd say cancel the card now and that way it means you can reapply at a later date to the same card company for the same offer if you still need it because you'll be a new customer, plus it means that given the short length of the account history, by closing it it won't affect your average account length anymore.

PixelPound

Candyapple wrote: »

My guess is theirs was a money transfer card as they tend to only offer that for the first 60 days only and that's how they intended to pay the builders.




I would disagree with this, I'd say cancel the card now and that way it means you can reapply at a later date to the same card company for the same offer if you still need it because you'll be a new customer, plus it means that given the short length of the account history, by closing it it won't affect your average account length anymore.

If the OP only has this CC, then cancelling it could have a negative affect. Lets assuming OP has other credit cards with under 50% utilisation, then closing it would be beneficial to them as you state.
We don't know what the OP intentions are now. Are they going to apply for another MT card to pay the builder?