- 1). Pay your balance in full. Although you haven't used your credit card in awhile, you are still responsible for paying the entire balance on your card. Do not try to cancel your credit card prior to paying your balance in full because the credit card issuer may raise the interest rates on your unpaid balance.
- 2). Inform the credit card issuer that you want to close your account. Speak with a customer service representative over the telephone and let him know the exact reason for closing your credit card. Please note that even though your credit card is inactive, the customer service representative will probably try to persuade you to keep your account open.
- 3). Send the credit card issuer a cancellation letter. It is a good idea to follow-up with the credit card issuer in writing to remind them that you want to close your account. In addition, you should request that the credit card issuer send you a confirmation letter confirming that your account is paid in full and stating the date your account was closed.
- 4). Receive a response from the credit card issuer. It may take up to 30 days before your credit card is officially closed. However, the credit card issuer should notify you via postal mail as soon as your account is closed. Contact the credit card issuer if has been more than 30 days since you requested to close your account.
- 5). Review your credit report for updates. Once you credit card is officially closed, the credit card issuer should notify the credit bureau about your new account status. Your credit report should display your account status as being closed with a zero balance. You can verify your account information by ordering a copy of your credit report from the three major credit bureaus.
previous post