The Phoenix Real Estate Advisor

The myths and the reality
Myth No. 1: Your credit card account isn’t opened until you activate it using the issuer’s toll-free number.

Several consumers have changed their minds about opening new credit cards after they’ve applied, then asked if they could undo the damage to their credit scores by not calling to activate the card.

Sorry, but the ding to your credit scores — typically 5 points or less — happens as soon as the issuer pulls your credit reports, which is usually within seconds of receiving your application. The account shows up as active on your credit reports shortly after the card is approved.