How do I close a credit card account?

kindofagilr · 9 October 2015 at 9:26AM

Hi all,

We have paid off a couple of credit cards, how do I close them down? I have closed capital one by sending a secure message and they have sent a letter confirming its closed.

But we have a tesco one and a virgin one that we want to close down, do I just write them a letter and ask them to close it and write back confirming that its closed

Thanks

ColoredSands · 9 October 2015 at 9:29AM

You should be able to call them and cancel.

kindofagilr · 9 October 2015 at 9:31AM

Great thanks, I didn't know if they would want it in writing. Great to know that a phone call will do it.

BlueEyedGirl · 9 October 2015 at 9:38AM

Personally, I would put a letter in writing sent signed for, and ask them for written confirmation it has been closed.

SeduLOUs · 9 October 2015 at 10:42AM

Calling is fine, but I tend to keep hold of the cards to one side (obviously not using them) and await written confirmation that the account is closed, with a plan to chase if I hadn't heard anything for a few weeks.

When letter received, file the letter somewhere safe and cut up the card.

You can usual confirm whether they have actioned it by logging on to online banking - with many cards the account is closed immediately and you can no longer access it, but still wait for the written confirmation as the final guarantee that they are done and dusted.

chattychappy · 9 October 2015 at 1:35PM

However you "close" it, transactions in the pipeline will still be processed. Also any Continuous Payment Authorities remain in place - so it's possible that months after closing you could get a further bill. If you have agreed to any of these, I would contact the merchant involved giving new CC details. In any cancellation letter I would tell the bank that the CPA has been cancelled with the merchant and they are not authorised to make any further payments to the organisation involved.

People have been caught out, sometimes years after the event, when a transaction goes through on an account they have "closed" and they don't notice it - thus having trashed ratings, interest charges etc.

fuzzgun19 · 27 October 2015 at 12:33PM

I'd like to close an MBNA card as it's now paid off.

I'd like to do it by letter, is there a template letter I can use anywhere, or do I just write "Dear MBNA, I'd like to close my account, please can you confirm by writing" kind of thing?

Futuristic · 27 October 2015 at 12:42PM

fuzzgun19 wrote: »

I'd like to close an MBNA card as it's now paid off.

I'd like to do it by letter, is there a template letter I can use anywhere, or do I just write "Dear MBNA, I'd like to close my account, please can you confirm by writing" kind of thing?

Why not just do it online or call a free phone number?

https://www.euapplyonlinenow.com/UKNeoCCapp/contact or 0800 062 062

From https://www.mbna.co.uk/support/

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Most will send a confirmation and final balance statement letter anyways however it is always best to ask them to send a letter anyways

fuzzgun19 · 27 October 2015 at 1:31PM

Ok, I only saw an option only phone. I'm doing ot on behalf of DH who will not call.

Thanks, I found the way to send a secure message now.

chelseablue · 29 October 2015 at 3:51PM

When I wanted to cancel my credit card with Nationwide I just phoned them up, a few days after the call I received a letter in the post confirming my credit card account with them had been closed

jhinks37 · 29 October 2015 at 10:28PM

I rang Tesco to cancel mine, took literally less than 1 minute and they sent me a confirmation letter within 2 days, so should be fine to call on the Tesco one.

thanks

How do I close a credit card account?

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