If you do not use the credit card, but have to pay the annual charges etc., then it is better that you close the credit card. Know the method to close the credit card?
If you do not have much money in your account and you need money for some shopping or work, then this need can be easily fulfilled through credit card. Apart from this, many types of discounts are also available on credit cards during shopping, this makes your deal even better. Considering all these facilities, the trend of credit cards has increased rapidly in today’s time.
You will also find some people who keep more than one credit card with them, although of course they do not use them. If you do not use the credit card, but have to pay the annual charges etc., then it is better that you close the credit card. But the question is, what is the method to close the credit card? Know about it here.
How to close credit card
To close the credit card, you should contact the credit card customer service of the bank and request to close the credit card. Meanwhile, the bank may ask you the reason for closing the credit card, to which you will have to answer. After this your request will be accepted. But it is possible that you may be asked to send an email etc., whatever steps are given to you, you will have to follow that step. Some banks also allow customers to request for credit card cancellation online. To make an online request, visit the bank’s website, fill the form and submit. After submitting the request, a bank representative will contact you to confirm the cancellation.
Do this work before shutting down
- It is very important to clear the dues before closing the credit card. Your card cannot be closed until the dues are paid.
- Whatever reward points you have earned by using that credit card. Redeem those points while closing the card.
- Before closing a credit card, turn off all auto payments and transfers.
- Check your most recent credit card statement for any last minute charges before requesting a cancellation.
- After the card is closed, cut it and throw it only then, otherwise if it falls into wrong hands then it is possible that some of your information may be stolen from it.
