I received a credit card in the mail that I applied for.?

Hi Hasdad62.

To have the best credit score and profile you will need 3 credit card accounts (revolving) with balances below 30% of your credit limits and 2 cars, boats, furniture, homes or personal loans (installment) all with good long pay history's.

you have already taken a hit as you say by applying for it, so validate it and use it .

Pay it off in full each month for six month to a year to show credit worthiness. Then file the card away and only use it once and a while to keep the card active. I have actually had credit cards canceled by the banks that issued them because of long periods of non-use.

It's been my experience that it will not hurt your score in any way as long as it is paid off, and having it down the road say three to five years will show you handle your credit responsibly and it will more than likely help raise your score.

In the future my advice would be to only open credit when you truly have a real need for it and only then.

just don't open a lot of credit in a short period of time doing this will only cause your score to go down.

You only get charged for a card that you spend things on.

Once the card is activated you will get bills in the mail for it but the balance that will be due will be 0.

Getting a lot of credit cards is not the best way to build credit. All you can do is make sure you keep the payments up.

You may get charged an annual fee even if you don't activate the card you were mailed, as well as account origination fees etc. if this card cane with those stipulations attached to it. I would call the credit card company and inquire about it.

Two cards is definitely enough to build your credit. In a perfect world, you should use one for emergencies and the other for everyday spending - to which you pay off in full monthly. You really don't need a third credit card, but since you've been approved, you might as well activate it. Since you don't really need a third card, you could file it for safe keeping just in case you need it in the future.

I seriously think you should call the company. It might be the case your signed application is enough for them to charge you the annual fee unless you cancel it.

Stranger things have happened especially on lower limit cards where they try to milk as many fees as they can get since they dont have the chance to get as much from you in interest

no longer till your son will pay the month-to-month fact at this gentle age. some years back, I have been given a mastercard application for my canine. I rapidly found out that the canine grew to become into indigent and would not be waiting to make money, or maybe use the cardboard, so I shredded it. a area be conscious to Lee. i grew to become into sort to my canine regarding his credit record. even nonetheless he would not possibly care, i did no longer want his credit record besmirched.

2 cards is more than enough to establish a credit history. Don't validate it, just call them and cancel if you wish to do so. Or validate it, and lock it away for the BIG emergencies. Use your other cards like one of the respondents said, one for crazy emergencies like the car breaking down, and the other in case you have a very large emergency, such as flying out to attend a funeral & car rental. Too many cards hurts you instead of help, so be careful opening too many credit lines. They may look at it as you can't control your spending, so you just keep taking cards every time you max one out. Hope this helps & good luck.

DON'T PUSH YOUR LUCK WITH CREDIT CARDS,2 IS ENOUGH. THE ECONOMY ISN'T THE BEST & WHY MESS UP ALL YOUR HARD WORK. NO YOU WON'T GET CHARGE FOR FEES AS LONG AS YOU DON'T ACTIVATE,BESIDES SOME OF THE FEES THEY CHARGE ARE OUTRAGEOUS. IT'S NOT WORTH IT & BE CAREFUL THEY DON'T JACK UP THE INTEREST RATE ON YOU AFTER YOU USE IT ONCE OR TWICE . JUST WORK & TAKE CARE OF WHAT YOU HAVE & MAKE ALL PAYMENTS ON TIME PAY EXTRA IF YOU CAN JUST TELL THEM TO APPLY THE EXTRA ON THE PRINCIPLE. GOOD LUCK.