How do you cancel credit cards, many times I try (like ones I do not use for years) and the companies ignor.?

Question

Credit Card compnaies seem to ignor my request to cancel, or give me an argument to cancel, even when cards have not been used for years. It is like they want to issue as many cards as possible and do not want to cancel any. Can they be reported to some government agency if they refuse to cancel on request.

Answer 1

Last year I canceled 5 credit cards and I did it all over the phone. In each case, I requested the name or other identification of the customer service person I was speaking with once I identified myself, but before I made my request known to them. I believe that I got better treatment that way.

With one card, they made me talk to two other people who tried to talk me into keeping the card before they agreed to close the account. In each case, they sent me a confirming letter. I did cut up the cards, but I did not return any to them. In all of the cases, the accounts showed up on my credit report as "Closed at the request of the cardholder." Cards I had not used in 5 years still showed open on my credit report before I took these steps.

You need to be polite, but firm. You do not need to give any reason for canceling the card other than "you want to." If you get any static at all, ask to speak with the person's supervisor.

Answer 2

Yes you do need to do it in writing. Also, I would cut up the actual card and mail that with the letter. Send it certified mail, return receipt.

But be prepared, if you cancel your accounts, your FICO score could go down. One of the factors in determining your score is amount of available credit vs. actual credit being used. Those open accounts with no balances might actually be helping you.

Answer 3

You have to cancel credit cards in writing. You can not call and cancel one. You have to write to the credit card company.

Answer 4

Just cut it up and not use it. Eventually they will cancel the account for lack of use.