
Do you remember the credit card you got at the check-out counter of a store and never took it out of the kit? Your bank may also have pressured you into getting a new credit card when you opened your first account with them but you never activated it. You may think that just because you did not activate the card, it would cause no harm to your finances. But you must note that even if you did not activate the card, your credit card account is still open. If it carries any annual fee, you will have to pay the same. However, if the card is free, you can keep the account open and not use the card as the unused credit limit will improve your credit score.
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this info.
I got sbi credit card, it’s annual fee is 500 but after receiving it I don’t want to activate/use it. Will bank deduct annual fee from my linked savings account?