My Credit Card is Boring: HOW DO I CANCEL?

[Jamie 10]

My credit card is really boring me, and I want to cancel it. However, the terms and conditions look way too boring for me to read, and they're in small print.

 

Do I just cut it up and return it to the company?

 

Hope I don't sound like an uneducated country bumpkin ...

[viking 10]

Send it to me Jamie along with your pin number I will look after it.

[JoeP 11]

Originally posted by Jamie

My credit card is really boring me, and I want to cancel it. However, the terms and conditions look way too boring for me to read, and they're in small print.

 

Do I just cut it up and return it to the company?

 

Hope I don't sound like an uneducated country bumpkin ...

 

Jamie,

 

How can you be bored with a credit card?

 

I mean - you get such adrenaline rushes...the one about WHAT to buy, then the one about how to pay for it, then the ones about how to avoid the Bailiffs.....

 

Seriously, ring them up and ask. Most of the time it's chop it up and send it back but they may have steps to go through to pay for any outstanding balance on the card.

 

Joe

[tslogf74 10]

I just phoned up, and they tried to talk me out of cancelling it using the old "just keep it for emergencies" ploy. But be insistent.

 

Then you get a period like 30 days in which to clear all outstanding balance as long as it is clear at the precise moment they decide to check it, they will cancel it.

[Jamie 10]

Originally posted by JoeP

How can you be bored with a credit card?

 

But it's the wrong colour Joe !!

 

No, only joking. They keep sending me statements, and it's too much paperwork.

 

I don't have any outstanding balance on it. My concerns are:

 

1) It's a potential risk, with identity fraud etc.

2) They may charge me if I don't use it.

3) Not many places accept it (it's American Express).

4) I have to keep paperwork for it.

5) It's just another thing for me to think about.

 

I'm gonna call em.

[Ginner 10]

Originally posted by Jamie

....They keep sending me statements, and it's too much paperwork.

1) It's a potential risk, with identity fraud etc.

2) They may charge me if I don't use it.

3) Not many places accept it (it's American Express).

4) I have to keep paperwork for it.

5) It's just another thing for me to think about.

I'm gonna call em.

 

I've just opened an Amex (Nectar) card. Some things for you to ponder in response to the issues above....

 

1) Credit cards offer good protection against fraud, and will often re-imburse you if you're a victim of fraud (so long as you've praticised diligent care in owning the card)

2) Can't see anything in the T&C's about charging if you don't use the card. An unfounded worry I think.

3) Mmmm, I found that with an online company and am hoping I don't come across it too often. However I have a VISA card just in case.

4) No you don't. Register online and you can get e-mailed (paperless) statements.

5) Well, do you want a credit card or not? Cos any credit card is "another thing" for you to think about.

 

I am a little concerned about the acceptability of Amex. If I start getting knocked back week in week out by retailers then I'll have to dump it.

[Jamie 10]

Ginner:

 

re: My point 2. In the T&C:

 

No annual fee is currently charged for the running of the Account. However, if in the 12 months preceding each Card Anniversary Date the total transactions on your account is less than £500, we will charge you an Account servicing charge of £15.

 

The card does give something like 2% or 1% cashback on purchases, but what use is that when hardly any retailers accept it.

[Ginner 10]

Originally posted by Jamie

Ginner:

 

re: My point 2. In the T&C:

 

No annual fee is currently charged for the running of the Account. However, if in the 12 months preceding each Card Anniversary Date the total transactions on your account is less than £500, we will charge you an Account servicing charge of £15.

 

The card does give something like 2% or 1% cashback on purchases, but what use is that when hardly any retailers accept it.

 

Bugger!

Good job I put all my petrol through my Amex then. Thank God for high petrol prices.

 

PS - did you have to get your magnifying glass out then? Mine's obviously not magnificent enough cos I didn't spot that clause in the small print.

[SHsheff 10]

I haven't found it a big deal and I've cancelled all mine in the last few months, all with zero or credit (from refunds) balances. The credit balances they just sent me a cheque for, but the accounts were closed there and then when I phoned up. They subsequently wrote to confirm. I cut up the cards and binned them.

 

And yes, they will ask if you're sure. But it's easy enough to just say 'Yes, I'm sure'!

 

Go fer it Jamie, if you don't use it and don't want it - get rid.

[Rich 12]

I'd never have any problem cancelling credit cards, simple.. I just don't sign up for them in the first place, even though I keep getting cards in the post.. Mostly I just bin 'em.