Unwanted credit card!
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Unwanted credit card!
| Mon, 11-08-2004 - 3:19pm |
Hi all - I'm one of the two men who post on this board :-)
I received an offer through the mail to apply for a Direct Merchant MC with a 0% balance transfer APR for the life of the amount...so I applied. It's been 4 weeks and I've heard nothing, so I called. Well, they approved my application....for $400!! The amount of the balance transfer was $8000, which they of course denied. Now when I get the CC with a limit of $400 I have to call and cancel it.
HOW do you avoid applying for a new card with a low balance transfer APR and receiving a ridiculously low credit maximum? I'm guessing that cancelling this card will hurt my credit rating, which is in the pits anyway.
Thanks in advance for any advice...
Steve

One more question... if you receive a card in the mail with a ridiculously low credit limit and you don't call the number to activate the card, is it still considered an "open" account??
Kimberly