Closing credit cards by letter?

shortcrust

I have seven credit cards that I want to close. The thought of ringing up seven different companies doesn't thrill me. I'd much rather do it by letter. I've found form letters online but don't want to go to the trouble if I might just get replies saying I need to call to provide them with more info etc. Is it as simple as it looks?

Anthorn

How to close an account should be detailed in the terms and conditions. I've closed several and mainly I have telephoned and then followed it with a signed-for letter.


The easiest to close was Co-operative Bank which only wanted a secure message through online banking. The hardest to close was Santander which insisted that I go in person with photo ID to a branch whereupon they tried to get me to keep the accounts and it was only when I lost my temper very nearly that they agreed to close it.


My experience may not be your experience.

grumbler

Personally, I don't see any problems with making a few phone calls.
With regard to a letter, AFAIK many CC providers don't even have a sample of your signature, so have no means of checking whether the letter is genuine.

bris

Isn't a phone call much easier and quicker than 7 letters?

shortcrust

bris wrote: »

Isn't a phone call much easier and quicker than 7 letters?

One phone call could be quicker. Seven would take much longer. One letter will take me five mins, another five mins to change the details six times to give seven letters. I could still be in a queue for the first call by the time that's done and dusted!:)

Paul_1977

I have closed two credit cards (Santander and Metro Bank) by sending a letter to the bank's head office. Im not sure if you can with Credit card companies.

They both replied confirming my account was closed.

I always make sure when ever closing accounts, that I have a letter from the bank saying the account is closed.

I once had a Santander account stay open, I went into the branch and told them to close it, and thought nothing of it. A few years later I was changing the address on another account in branch at a desk, I happen to see how many accounts were listed and asked why. Turned out the account was never closed.

Oh and it took three attempts to have the address changed despite them telling me twice it had been.

I don't think its a big deal leaving accounts open, but you have to monitor them if you do. Its very easy to forget about a payment that only comes out once a year, life insurance for example.

daveyjp

I always write to cancel. The one thing they don't want you to do is close an account and a phone call gives them an opportunity to brow beat you into keeping it.

I closed a Mint card a few months ago. On looking for how to do it their advice is to keep it and just not use it! A letter to the address on the statement and it was closed.

GingerBob_3

I suggest you close the accounts by letter. I always close credit card accounts in that way. I cannot be doing with phoning them up, especially MBNA, where the "take you through security" bull is way over the top (at least it used to be). Having said that about MBNA, I did once have to ring them up when they stopped my card (for no good reason). Having explained to them that any further unnecessary stops would breach my T&Cs and would therefore result in immediate closure, their response was "would you like to close the card now"!! (I must have upset them or something).


Anyway, that Santander requirement mentioned above is totally out of order. I wouldn't put up with that. In that case I would simply write to them enclosing the card in several pieces, and if they didn't like it they could shove it.