i have new mastercard how can i cancil old one information?

Question

i try my best to enter new account No.

Answer 1

All you need to do is cut up the old card and send it back to the issuer with a letter asking them to close your account.

Answer 2

You might not want to cancel the old one. Get the balance down to zero, cut it up, but don't close the account. Suze Orman, the financial adviser, says that if you have 2 cards, for example, and each has a $1000 credit limit and you zero out the balance on one but have $500 on the other, then your debt ratio is 25% because you've used 25% of a $2000 limit. If you cancel the other card, but have $500 on the new one, then your available credit is $1000 but your debt ratio is now 50%. Some experts say that if you are trying to get a loan, they will look at the potential for running up credit and this will work against you, but if you have the credit available and are not abusing it, I'd say keep it available to yourself -- you never know when you might have an emergency.