Will something bad happen if I got a credit card with a $400 limit and i just tear it up?

you could still be able to make changes but you should check before you do that if there is a minimum fee you have to pay each year . you don't want to pay for something you aren't even using

Even though you won't get penalized by tearing the credit card, you should cancel it with the company.

Don't know exactly who issued this credit card but many department stores and alike issue credit card to their customers to lure their business. Many of this "department" credit card usually starts with a very low credit limit. You can call the customer service to request for a credit limit increase. Also pay attention to the terms and conditions as well as the interest rate and annual fees, etc.

If you finally decide to cancel it, you should notify the credit card company to close your account. For you own record, you should request a written statement from the credit card company that your credit card has been closed. Don't simply take the verbal confirmation on the phone.

I would recommend cancelling it to avoid any possible surprises or charges.

But if you don't have another one, it would be an awfully good idea to keep it somewhere safe, check on the balance once each month, and have it for emergencies. If something happens and you need money in an emergency, you can treat it alike a loan and get help from family to pay it off immediately after the crisis is resolved... which will help you build a positive credit score.

You need to find out if there is an annual fee on the card. It can't hurt to make small purchases on it like getting gas and they pay it off when it is due. This will help your credit, but nothing bad will happen if you don't use it.... just find out if there is an annual fee so it can be paid when due and doesn't show as late as it will incur fees and interest and just multiply.... if there is no annual fee you are safe!

No, you won't get penalized but it will show on your credit report. Why don't you close it out with the cc company rather than just leaving it open.

If u don't use it after a period of time they my close your account.. or u may have to just pay fees

no but if u dont want it u should phone the company so they can cancell it