How to Close a Credit Card Letter
If you have a credit card you no longer use, it is a good idea to trim your holdings. Reducing the number of credit cards you have reduces the temptation to spend too much, and that can be a real boon to your finances. When you do decide to close a credit card, however, it is important to cancel the card properly. While it is possible to close a card over the phone, putting the request in writing will protect yourself and your finances.
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Instructions
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Pull out the latest statement from the credit card you wish to close. Look for any recurring payments on the cards. Contact the vendors to whom these payments are made and give them an alternate credit card for future payments.
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Pay off the entire balance on your card before closing it. Wait for your credit card statement, then write a check for the entire balance and mail it in. Wait about a week for the payment to post, then call the customer service number listed on the card to make sure the current balance is zero.
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3
Look on the statement for the customer service mailing address. Start your letter with your return address, followed by the date and then the mailing address of the credit card company.
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Type a "RE:" line and enter your credit card number. This will make it easier for the staff at the credit card issuer to identify your account.
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State in the first paragraph that you wish to close your account. Provide a reason for the closure if you wish.
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Close the letter by asking the credit card issuer to contact you with any questions or problems. In some cases the credit card issuer may need to contact you to verify your information.
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Wait about a week for the closure to go through, and then call the customer service phone number listed on the back of your credit card to verify that the account has been closed. Cut up the card and throw it away once the account is closed.
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References
- Photo Credit three credit cards image by Aleksandr Ugorenkov from Fotolia.com
