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When you want to get rid of your credit card, do not dispose of it yourself. You should start by completing an application directly to the bank. Note that it is necessary to apply in advance as closing a credit card can take up to several days. When you contact the bank, in your hands should be a passport, an agreement on the credit and the credit card. Be sure to check with the bank about the availability of outstanding debts on the card account. If any, is necessary to specify the exact amount and immediately get rid of them. Next give credit card to the bank employee who is required to cut it in half in your presence. Do not forget to check off additional services on your card, the SMS alert or internet banking services.
To complete the above procedures, the bank will necessarily require evidence that you do not have debt on your card account. Sometimes, for providing this information, some banks are taking money from their customers, and here it is better to pay more because their own peace of mind. By the way, to carry out all these manipulations is necessary in the bank branch where you originally made out credit card. So, after getting credit card, be sure to save the receipt of payment arrears, the contract for the opening card, copies of statements, those are most importantly help to close the account.
Some borrowers are mistaken in their opinion that after the expiration of the credit card, can get rid of it themselves by ignoring appeals to the bank. However, this is not so. To close the card completely must notify the bank a month before the expiration of the credit card. First, you should check the amount of arrears , and secondly , some banks automatically extend credit without the consent of their owners. Thus, without contacting the bank to the closure of the old card, you can get a new card with old debts.
Procedure for closing a credit card in each bank has its own. However, there are some general rules, in which you can completely close a credit card with no financial loss in the shortest possible time. The following are recommendations on action to be committed to the client to close the card.
The first step is to contact the bank or visit the branch of the bank and find out the outstanding loan amount. If any, repay it and write a statement to close a credit card. If received a written notice on requesting to close the account, the bank does so promptly, as the client will notified. In this case, the credit card must be destroyed in the presence of the borrower.
In some cases, for example – credit card transaction carried out recently from an ATM owned by another bank, the issuer bank needs some time to get the data of the transaction. In this case, the period of closing the credit card can be up to 45 days after receiving application from the client. And the card holder may use it during this period without restrictions.