Cancel Your Credit Card - Comments Page 3

I always cancel by letter. I specify the reason, ask that they do NOT call me, but to confirm the cancellation "at my request" in writing and add me to their do not call list. Keep the letter in case there is a reason to disput on your credit report (i.e. they state it was closed at their request, instead of yours.) DO NOT send in cut up credit cards, someone could steal them. I have cancelled several cards this way and never had a problem. It helps to make sure your "reason" for cancelling is one they can't argue with. I told them "I am cutting back on non-essentials so I can quit working to stay home and raise my son, instead of letting day-care do it for me". I even got a couple "atta boys" from female CSR's.

It's not enough to cancel by mail, particularly for AOL. I use certified mail. And I have my letter witnessed. So far a notary has been unnecessary. However, I agree about the warnings on credit ratings. Mine were lowered because I had too few credit cards.

"I JUST FOUND THAT I HAVE TERMINAL CANCER.... and I only have a few days left to get my affairs in order. Please cancel my card now." That is usually enough to get quick action from anyone on the phone.

If you have a credit card you no longer have a use for and it costs you nothing DON'T CANCEL IT! Cut it up, lock it up but keep it if you can. Here's why. Even if you don't use it or use it just a little keeping cards any cards will add to you credit rating which is how ALL americans are judged these days. Here is a wonderful newletter (http://www.lifeafterbankruptcy.com/backissues.php?l=top) for free that enlightens those who are ignorant but genuine finance don't be thrown by the bankruptcy word.

EDITOR'S NOTE: There are differing opinions about the wisdom of never cancelling a credit card. If you have only one card, it might be a good idea to get/keep a second. (It makes your debt to available credit ratio look better.) But if you have many cards, and a large amount of untapped credit, that can be a negative factor to a lender. (They might be worried that you'll tap into all that credit, and not be able to pay THEM back.)

Humor always works for me, some girl at aol
kept badgering me with why and what and who and such so I finally asked her if there was a web site I could go to to cancel. She just laughed and finally did give in and cancelled my account.

2 suggestions: 1) Tell them you are currently filing for personal bunkruptancy. 2) Always leave the card balance in 5c credit.

I recently paid off the balance on a MasterCard that had a monthly fee and called them to cancel the account. The very nice man asked me why, and offered to change the account to no fee, but as I already have a Visa card with the same bank (no fee) I repeated that I really didn't need both cards. He tried to tell me that not all places take Visa, but I have never seen a place that took MC that didn't also take Visa. After I listened to his entire script, he agreed to cancel my account, and two months later, the account was finally closed. I wish I had thought of the request to record him. It might have gone faster for me, too.

I went through nearly a year of discussion with AOL after my mother died, and I closed her credit card accounts, and canceled her AOL account before they finally stopped sending "Please come back" notices to HER after I had told them she was deceased. They are incredible!

This is a very funny and simultaneously useful post. We've featured and linked to it, while leaving the goods -- the phone convo and the resulting advice -- where it belongs. See http://bankruptcyblognetwork.com/?p=85

Check us out. You might find some more useful stuff! - The Bankruptcy Blog Network - "Going Broke, Without Being Broken"

I had the same experiance trying to close an account with GE Money. I had a stand up row with the woman on the phone as she persisted to ask me 3 times if id like to keep the account then on the third polite but firm 'NO THANK YOU' she reeled off about 6 or 7 reason as to why i should remain a client! This went on but wont bore you with the details.. The account is still not shut, i wrote a letter of complaint 3 weeks ago and no reply yet... Fingers crossed!

We paid off the card two years ago, I took sissors and destroyed the card. The mail kept coming. I called, after much stalling they said we would have to write a letter to end the torment(i added). Today I get a letter telling us we have a new card on the way!!!!