How Do You Close A CC?

always_amazed

Hi there;

I don't usually post on this board but was wondering if anyone can help me;

I have a TopShop Store Card (GE Money) opened Xmas 2005; and stopped using it in summer 2006 (the balance is cleared).

I want to cancel the card completely; just for peace of mind.

Does anyone know how you do it? I've seen warnings from Martin that the companies sometimes don't close the account when you ask, but leave it dormant.

Thanks
x

flutterbyuk25

Ring them and ask for them to cancel it and for them to confirm it in writing to you within 14 days.

Or write to them requesting the same - maybe send by recorded delivery so you know it reaches them.

x

always_amazed

Thank you kindly; and I suppose I'll know if it's been done when I check my credit report

Tirian

When I requested to close my &More cc, they said I had to wait until one month had gone by with no transactions or interest.

I thoroughly expected that I would have to remind them to process the account closure once that had happened, but as soon as the month was up I got an email and a letter and the account was closed.

Nice to know that sometimes these companies do get things right! I only wish that my experience with the NHS at the moment were so smooth ... ah well, can't have everything I guess.

CannyJock

Been helping someone else with a financial make-over (compulsive once you get started).

Found they had an old Goldfish card with £ 3,600 credit and a GE Capital card with £ 1,500 credit. Both cards back to 2002/2003, never been used, probably cut up and put in the bin soon as they arrived as "unwanted".

Only now they've realised that they've been on their credit file all these years.

Sent off a letter to each asking them to close the cards as being fully settled and no longer needed. GE Capital did this in about 4 days, Goldfish we're still waiting on.

nickmack

I have a problem with Barclaycard. An account they told me was closed two years ago, is still not showing as 'settled'.

They are trying to maintain, they don't mark accounts as 'settled', but show the balance as £0 and the old limit.

I've never come across this before and it's a battle trying to get them to correct it.

Ensure that when the account is closed it shows as 'settled'. Barclaycard seem to think it doesn't matter, but for any lender using the report for assessment, it will show £x of unused credit.

lolarentt

.........cut the card up and send it back (missing a few relevant bits if you like) when you write to cancel, and ask them to confirm they have closed the account. In the past I have closed cc accounts by phone, only to find a new card turns up in the post the following year!

always_amazed

That's exactly what I'm scared of; finding that it hasn't actually been closed.

lilac_lady

Always follow up a phone call with a letter asking for confirmation that the account has been closed. I did this with a Halifax credit card and got a letter back confirming the closure.