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  • FIRST POST
    • simonineaston
    • By simonineaston 30th Jul 18, 3:21 PM
    • 144Posts
    • 83Thanks
    simonineaston
    Really basic Q.!
    • #1
    • 30th Jul 18, 3:21 PM
    Really basic Q.! 30th Jul 18 at 3:21 PM
    I should know the answer to this as I've had loads of credit cards over a forty year banking history, but... Is it a Good Idea to write to each credit card provider each time you decide to stop using a particular card? In the past, I've just paid off the amount owing & cut up the card...
    Last edited by simonineaston; 30-07-2018 at 3:29 PM.
Page 1
    • Gary_Dexter
    • By Gary_Dexter 30th Jul 18, 3:24 PM
    • 2,338 Posts
    • 1,311 Thanks
    Gary_Dexter
    • #2
    • 30th Jul 18, 3:24 PM
    • #2
    • 30th Jul 18, 3:24 PM
    If you want to close the account then yes.

    If not it will likely close through dormancy anyway after XX amount of time
    • Willing2Learn
    • By Willing2Learn 30th Jul 18, 3:28 PM
    • 1,585 Posts
    • 1,207 Thanks
    Willing2Learn
    • #3
    • 30th Jul 18, 3:28 PM
    • #3
    • 30th Jul 18, 3:28 PM
    I always phone up the card provider and advise them that I wish to close the account. Then I shred the card lol. I've never written to them.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Vortigern
    • By Vortigern 30th Jul 18, 4:02 PM
    • 2,581 Posts
    • 1,768 Thanks
    Vortigern
    • #4
    • 30th Jul 18, 4:02 PM
    • #4
    • 30th Jul 18, 4:02 PM
    In the past, I've just paid off the amount owing & cut up the card...
    Originally posted by simonineaston
    Always check a statement or two after you've paid off the card, otherwise you may be caught by trailing interest.

    Personally, I would write to the card provider, asking them to cancel the credit agreement and report the account as "Settled" to the credit reference agencies...

    ...and I check my credit file at the CRAs to ensure that they have complied.
    • sparkey1
    • By sparkey1 30th Jul 18, 4:06 PM
    • 439 Posts
    • 193 Thanks
    sparkey1
    • #5
    • 30th Jul 18, 4:06 PM
    • #5
    • 30th Jul 18, 4:06 PM
    You be better ringing up and asking for a better deal. Some will give you one.
    • cjv
    • By cjv 30th Jul 18, 6:22 PM
    • 281 Posts
    • 142 Thanks
    cjv
    • #6
    • 30th Jul 18, 6:22 PM
    • #6
    • 30th Jul 18, 6:22 PM
    I ring them up and close the account, then check my credit files after a few months to make sure it has been reported as settled.
    • jeffroswald
    • By jeffroswald 31st Jul 18, 11:09 PM
    • 7 Posts
    • 3 Thanks
    jeffroswald
    • #7
    • 31st Jul 18, 11:09 PM
    • #7
    • 31st Jul 18, 11:09 PM
    I ring them up and close the account, then check my credit files after a few months to make sure it has been reported as settled.
    Originally posted by cjv
    I just call them up and cancel when I snip it up! Never heard of writing.

    Good idea to check they've cancelled it though. Never thought o that.
    • Vortigern
    • By Vortigern 1st Aug 18, 8:54 AM
    • 2,581 Posts
    • 1,768 Thanks
    Vortigern
    • #8
    • 1st Aug 18, 8:54 AM
    • #8
    • 1st Aug 18, 8:54 AM
    Never heard of writing.
    Originally posted by jeffroswald
    Putting it in writing provides an audit trail, a record of what you've done and when you did it, rather than having to remember when you made a phone call.

    And it's worth the price of a stamp to avoid ringing a call centre with the inevitable wait time, interrupted music-on-hold, insincere reminders of how important your call is (not) and the reading aloud of the terms and conditions.
    • simonineaston
    • By simonineaston 8th Aug 18, 1:44 PM
    • 144 Posts
    • 83 Thanks
    simonineaston
    • #9
    • 8th Aug 18, 1:44 PM
    • #9
    • 8th Aug 18, 1:44 PM
    OK folks, thanks for your comments - I'm going to start with a quick call & see what they suggest. (BTW on that subject, I rang a well-established financial institution y'day - The Pru - and listened to the same short clip of some anonymous chamber music go round and round, for about fifteen min.s, interspersed with soothing advice to visit their website, where, I was assured, I would find all sorts of useful things and when I did get through, I asked them if I could have done what it was I was ringing them about on-line and they said,"Err... no!")
    • Thrugelmir
    • By Thrugelmir 8th Aug 18, 2:09 PM
    • 60,040 Posts
    • 53,390 Thanks
    Thrugelmir
    Some lenders are now withdrawing the issue of new cards by default on inactive accounts. Unless the account holder notifies them to the contrary. .
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • Vortigern
    • By Vortigern 8th Aug 18, 8:02 PM
    • 2,581 Posts
    • 1,768 Thanks
    Vortigern
    Some lenders are now withdrawing the issue of new cards by default on inactive accounts. Unless the account holder notifies them to the contrary.
    Originally posted by Thrugelmir
    Yes but that will take a while, during which there's an amount of unused available credit on the credit file, which may possibly prevent access to further credit.
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