Whether the credit card will be automatically canceled if the card is not opened and whether there will be an annual fee are what cardholders are most concerned about. Under normal circumstances, if a credit card is not activated, there will be no annual fee, but there are exceptions. Special credit card products of personal banks will also have annual fees if not activated. According to bankers, some banks’ platinum cards and special cards charge fees even if the card is not opened. This point requires special attention. It is recommended that you consult the credit card center to know the fee collection situation when applying for a card!
In addition, if the credit card has not been opened, then before the expiration date on the card is It will not be canceled automatically. It is recommended that if you want to cancel the card, you can call the card-issuing bank to cancel the card.
What needs to be reminded is that even if there are no annual credit card fees and other fees, multiple credit cards will be recorded in the cardholder’s personal credit system. Under such a premise, the cardholder will no longer apply for credit cards. Applying for a new credit card or loan may be affected. Banks will consider that cardholders who apply for multiple credit cards but do not open a card, have integrity issues or do not have such needs, may reduce the success rate of credit card and loan approval.
Some co-branded cards launched by banks have value-added services, and customers will be charged fees even if they do not open the card. So, what is a "co-branded card"? It is reported that a co-branded card is a bank card jointly issued by a bank and other institutions. In addition to overdraft consumption and other functions, it also has some special functions. Common co-branded cards include travel cards, airline cards, etc.
In addition, because platinum cards and diamond cards have many functions, some banks have implemented a policy of charging fees even if they are not opened. When applying for a card, many citizens did not carefully read the instructions for applying for the card. Instead, they would write "I have carefully read the relevant regulations" on the application form as required by the salesperson. Therefore, the editor reminds everyone that when applying for a credit card, you must read the relevant regulations carefully.