unused credit cards

lexi

Hi, Probably daft question, but i have a couple of cards i no longer use. Do i simply just cut them up or do i have to contact the banks & tell thm i no longer want them?

piker1957

Write to them and cancel the contract. Otherwise it remains a live account

Chris2000

Ring or write to cancel. Otherwise the accounts will stay open and they'll probably send out new cards when the old ones expire.

sicker

You would be advised to phone the cc company and close them, that way they will show as settled on your credit report and also reduce the amount of credit available shown on your report.

John

oibaldy

I'm sure I read somewhere you should ask them to mark the account "closed at the card holder's request" so that it's clear to anyone viewing your credit report that it was you, and not the bank, who terminated the contract.

lexi

thanx everyone. I shall take your advice & write to the banks involved.