Sample Credit Card Cancellation Letterby Tim Manni
As we said earlier, forget 2008 — now it’s all about looking forward. A great way to begin the new year is to improve your credit score. Whether you want to take advantage of the historically-low mortgage rates, purchase a vehicle, or whatever else, a healthy credit score is the first step of the process. What better way to improve your score than to officially get rid of those credit cards you no longer use?
Cutting up your plastic isn’t enough; nor is a phone call. To properly close your account, you need to send a letter to the credit card company with your name, address, and account number and direct them to close your account.
The Dolans have provided an easy-to-use template to follow when writing to the credit card company:
Dear Sir or Madam:
Please let this letter serve as notice that I am terminating my credit card account effective immediately. Please close the following account:
Credit Card Company: ____________
Account Number: ________________
Please send me written confirmation that my account has been closed. Also, please confirm that you have notified all appropriate credit card bureaus that this account was closed at my request.
Thank you for your prompt attention to this matter.
If you haven’t checked your credit score recently, be sure to do so. You may discover that you have credit cards to your name you don’t even know about.
College students beware: filling out credit-card applications to get that free pair of sunglasses may have initiated a credit-card account you’re completely unaware of.