Closing credit cards

eddie_2-2

What happens when you've paid off your CC balance and want to get rid of the card?
Do you just phone CC company and tell them that you want to close the account?
I've paid off my balance on an MBNA card but want to close it cause I'll never use it again.
The APR on it is high and I want to see if I can get a new one with a lower APR.

Rubber_Duck_4

yes i've jst done it on a couple of my outstanding CC.

I had no bother, they just send a letter confirming the closure

chrcha

I'm in a situation where I have 3 cards paid off. WOuld i benefit from closing these accounts (the cards have gone!) or would it affect (lower) my rating?

The_Boss

chrcha wrote:

I'm in a situation where I have 3 cards paid off. WOuld i benefit from closing these accounts (the cards have gone!) or would it affect (lower) my rating?

The general consensus is "YES, it would be better". But take a look at this thread first

http://forums.moneysavingexpert.com/showthread.html?t=175234