What happens when you close a credit/debit account?

iAMaLONDONER

When you close a credit card or get a new one due to the old one expiring?
Do you have to destroy the card?

Could you keep it (securely) as a souvenir?

Buzby

Keep it if you want to - I still have my first Access (MasterCard) from 1972!

[Deleted User]

Technically the lender may request it back or that you destroy it.

In practice however, you can generally keep it, if you don't have much else going on in your life.

iAMaLONDONER

Deleted_User wrote: »

Technically the lender may request it back or that you destroy it.

In practice however, you can generally keep it, if you don't have much else going on in your life.

No need to be condescending!

I'd like to keep my first credit card!

iAMaLONDONER

Buzby wrote: »

Keep it if you want to - I still have my first Access (MasterCard) from 1972!

Wow I hear that credit was really hard to get before the Thatcher years!

41 years has it got weak, like say a old newspaper would or is it that durable??

CRISPIANNE3

Buzby wrote: »

Keep it if you want to - I still have my first Access (MasterCard) from 1972!

I thought you might find this site interesting
http://accesscreditcard.info/Buildings.asp

I came across it last night and a real trip down memory lane. I remember
getting an Access card in 1972 with a cl of £160. Also remember a year later being declined an increase as the guy did not think I could handle it. How times have changed!

iAMaLONDONER

CRISPIANNE3 wrote: »

I thought you might find this site interesting
http://accesscreditcard.info/Buildings.asp

I came across it last night and a real trip down memory lane. I remember
getting an Access card in 1972 with a cl of £160. Also remember a year later being declined an increase as the guy did not think I could handle it. How times have changed!

loool

I bet a single pound was actually quite useful in those days!

These days some newspapers cost more than a quid loool

zerog

iAMaLONDONER wrote: »

loool

I bet a single pound was actually quite useful in those days!

These days some newspapers cost more than a quid loool

A limit of £160 then would be about £1750 today, so quite reasonable for a first card. Decimalisation had just happened with the 10 shilling note being replaced with a 50p coin, but pounds were still notes.

Buzby

Wow - I must frame mine now! I Remember thinking it really classy as the embossed name was in GOLD.

iAMaLONDONER

zerog wrote: »

A limit of £160 then would be about £1750 today, so quite reasonable for a first card. Decimalisation had just happened with the 10 shilling note being replaced with a 50p coin, but pounds were still notes.

Oh yeah the pound is only 30 years old!

These days I guess credit is much harder to get lool!

londonTiger

what I dont understand is why car companies ask that you destroy your card once cancelled. Surely it's completely null and void and essentially becaomes a piece of plastic with your name on

nvm. just realised it can be used as ID, and you can still phone the cc company and use the card number to get past the initial security screening.