How To Close And Cancel Your Credit Card Account

You can learn how to close credit card accounts by following a few simple rules.

They will help you to know that you have taken all the precautions and steps necessary to ensure that the account was closed properly. See below for some rules that will help you in the process.

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Credit Card Cancellation Tips

• Pay Off Your Balance Completely – If you try to close your credit card account and you still have not cleared your balance then you may be in for a sticky deal. It is possible that your credit card provider could increase your interest rate on the balance that is remaining. It is not necessarily customary to do so but they can choose to do it if they want to. There are universal default clauses inherent in your agreement that give the provider freedom to do just about anything. When the balance is paid off and you are ready to cancel then go ahead and do it but not before that.
• Call First – When figuring out how to close credit card accounts, it’s best to try the path of least resistance first. There are some providers who will see to the cancellation immediately over the phone and without difficulty. With some others, you may not be so lucky.
• Stand Firm – When you make the phone call to cancel, you should know that the credit card company does not want to let you go without a fight. You see, it is much more expensive for them to find a new customer than it is to keep an existing one. The customer service representative will most likely forward you to a retention specialist who will attempt to persuade you to remain a customer. You should politely inform him or her of your decision and move on.
• Send Written Notice – When cancelling a credit card, you should also send in a written confirmation that you wish to cancel the card. This is in addition to the phone call. The letter should also be sent registered mail so you can receive confirmation that it was received by the credit card company. Include all of the pertinent information such as your name, account number and your desire to close the account.
• Cancel any Direct Debits – if you have direct debits that were setup on your credit card, your credit card can actually be re-activated by those direct debits, even if you have gone through the process of closing your account.

If you have followed the preceding tips and have still found that the card has not been cancelled, you will have to persist and follow the same instructions again. Be sure to take clear notes of who you spoke with and dates and times so they can be marked in a new letter if it needs to be drafted. Following these hints will show you how to close your credit account without worry and frustration.

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Popular Credit Card Offers

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card - 0% Offer	A credit card with a low rate offer on both balance transfers and purchases, plus a low annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	Citibank Clear Platinum Card	Competitive interest rate on purchases and balance transfers offer.	11.99%	2.9% for 12 months	$99	21.74%
	St George Vertigo	Take advantage of this great offer from St.George with a low rate on purchases and a low balance transfer offer.	13.24%	0.99% for 12 months	$55	21.49%
	ANZ Platinum Credit Card	An introductory interest rate offer on balance transfers and purchases, plus a $0 first year annual fee.	0% for 6 months (reverts to 19.24% )	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%