Do you want to cancel your credit card? Afraid it will affect your credit score? In this post, I have shared a few ways to securely cancel your credit card.
The decision to cancel a credit card is always welcomed by financial advisors. Most often, people cancel their credit cards either because they have too many of them(and want to cut expenses on annual fees, etc) or their debt is getting out of control.
Canceling your credit card does help you put an end to your relentless spending. But it can also affect your credit score if you cancel it before repaying the borrowed money using the same card.
Moreover, you might also have to pay off your debt with a higher interest rate. So, it is recommended to clear all your debt first and then contact your credit card company for cancellation of service.
What are the ways to securely cancel a credit card?
1. Call the customer care representative
This is the easiest and quickest ways to cancel your credit card. Most credit cards Continue Reading