There are many reasons to close a credit card. Perhaps you are trying to get out of debt and are getting rid of cards which you no longer need or you are unhappy with the service the card provides. Whatever the reason for closing the account, you should always send written correspondence to the company to inform them of your desire to close the account.
- Skill level:
- Moderately Easy
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Things you need
- Word processor
- Credit Card account number
- Address of credit card company
- Copy of returned check showing final payment
- Cut up credit card
Pay off the account which you are planning to cancel. You will be unable to cancel the cards until this balance is paid off
Type the date and the credit card address in the top left hand side of the corner of the page. Address the letter to "Customer Service." Type "Dear Sir or Madam" as your salutation.
Type your first paragraph. This paragraph should let the issuing bank know that it is your intention to close the card by a certain date. Place the card number and effective date in this paragraph.
Enter your second paragraph. In this paragraph, explain when you made your final payment. Get notification from your bank that the payment has cleared your account and inform the credit card company of this fact in the second paragraph. Let them know that you are enclosing a copy of the check and a few pieces of the cut up credit card.
The third paragraph should inform them of your understanding that there are no more fiscal issues you need to deal with. Inform them again of your desire to have the card closed.
Ask for a written confirmation of the account closure and provide the company with your contact information, should they have any issues. Thank them and sign the letter.
Send the letter to your credit company. Follow up in two weeks to see what the process of the request is.
Tips and warnings
- Keep at the company until you receive confirmation that your account has been cancelled. They may just not get back to you if you don't talk to them. When you call, don't fall for any sales pitch to get you to leave the card open.
- Don't send your all the pieces of your credit card in the mail and rip off the account number of your returned check copy. In case the mail goes awry, you don't want would-be thieves to take advantage of your information.
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