While most people feel that getting a credit card is a time consuming process, there are a few others who feel it is closing the card that can prove to be more challenging and time consuming than getting one. The truth is that people in both categories are true! Getting a credit card, in fact, in most cases is simpler than closing it. A large number of people who thought they had closed their credit cards got a unexpected mails at a later date informing them about the huge balance they owned the credit card lender. In order to avoid problems like this, it is important to know the right process to close the credit cards without any problems arising at a later date.
First of all, when you have decided to close a particular credit card, call the customer service department of the bank and inform them of their decision. No bank will outright accept your request until you have proven to be a really bad customer. Most often, the customer service representative who will talk to you will try to coax you into retaining the card. However, be clear about what you want. Don`t fall prey to soft words if you are sure that the card is of no use to you. It is recommended that you clearly mention the reasons for you to close the account so they don`t pursue you further.
Once you have made the phone call, it is important to follow it up with writing to the bank. There have been cases where the representatives have not updated the customer records and hence the cards have been active even months of requesting for closure. Therefore, it is crucial to write to the bank and tell them to close your credit card account. You can also discuss the repayment terms and duration in order to avoid extra charges.
Finally, after about two weeks of sending the letter, call the customer service department again and confirm that the card has indeed been closed. This is very important if you want to avoid some unpleasant surprises sometime later in the future. If the card has still not been closed, then, it is recommended that you walk into one of the branches of the bank and hand over the letter personally to the executives there. Ensure you keep the proofs of all your requests carefully so you can use it at a later time if necessary.