Applied for Capitol One credit card. Upon receipt decided didn't want to pay annual fee and didn't activate card. When I called to cancel after much run around I was told that it will be reported to reporting agencies. Why? If I never activated or used the card how can they report it? Am worried it will further mar my credit score. Wanted to know what the purpose of their activation letter was if the account supposedly is already opened by my applying for it...had no answer. I was just repeatedly told it was a regulatory thing they had to do as far as reporting it. I accept the inquiry to my credit but now have cancellation to boot. Help!!!!