It’s also import to destroy your inactive credit card. Ideally, run the card through a paper shredder designed for plastic and then throw away the pieces. If you don’t have a shredder, cut up the card ...

Then, ask your credit card company for written confirmation that your card was closed. STEP 5: Send a letter to your card issuer . To cover all your bases, send a written cancellation letter to ...

As a matter of fact, not following the right process can get your credit score messed up, which could, in turn, outweigh any potential advantages of canceling the card. More about that later.

You want to cancel your credit card. Before you pick up your scissors, know this: Canceling a credit card the right way involves more than simply.

Canceling a credit card can hurt your credit score, but it doesn't have to if you know the right way to do it. Follow these strategies and steps to get started.

If you’re ready to cancel your Chase credit card, you need to take action. Your card will not automatically be canceled just because you stopped using it.

How to cancel a credit card application. No matter what the reason, it’s best to make sure that you cancel as soon as possible. Canceling a credit card application is possible, but you’ll need ...

It might make sense to cancel a credit card if there are high fees, such as late payment fees, annual fees, cash advance fees or fees when you go over your credit limit. Frequent overspending .

So if you have $20,000 in available credit across three cards, then cancel a card with a $10,000 limit while maintaining a debt of $5,000 on the other two, your credit utilization ratio will go ...

Whether you are trying to stop your compulsive shopping habits or can’t deal with the high annual fees, canceling your credit card could be one of the potential solutions. There are several ...

Key takeaways. You can cancel a credit card application by calling or emailing the credit card company's customer service department — but you've limited time to act.