Current location - Trademark Inquiry Complete Network - Overdue credit card - What are the consequences of canceling a credit card?
What are the consequences of canceling a credit card?

Will canceling a credit card affect your credit?

Canceling a credit card has no direct impact on your credit. Generally speaking, the impact is only because the balance in the credit card has not been paid off or has been repaid. Overdue. Therefore, before individuals choose to cancel a credit card, they must first make sure that the amount in the card has been paid off, otherwise it will cause unnecessary trouble to the individual and it will be more difficult to apply for a credit card next time. How to completely cancel a credit card account? Credit card cancellation is only for this card. In fact, the account is still there, and all the records in the account are still there. Cancellation is the complete elimination. However, the account cancellation process requires the cardholder to clearly indicate the request to cancel the account to the bank before it can be successful. If you have the idea of ??closing your account, you should pay attention to the following points. 1. Before canceling the account, check whether you still owe money. If you apply for account cancellation when the debt has not been paid off, the bank will not allow you to cancel the account because there are loopholes in your personal credit record. Therefore, you must pay off the account. The safest way is to cancel the account if you owe money; 2. Before canceling the account, you should check whether you have other credit cards in this bank. If so, please cancel the card first, because the bank cannot do it for multiple credit cards in use at the same time. If you are applying for account cancellation personally; 3. Pay attention to carefully check whether your account has been canceled successfully. Under normal circumstances, the application for account cancellation will be processed within forty-five days after the application. The person handling the account can try to call after forty-five days. The bank asked if the account cancellation was successful.

What are the consequences of canceling a credit card?

The credit card can be canceled if it is no longer in use, there will be no impact.

Credit card cancellation method:

1. Before canceling the credit card, please make sure that there is no debt in the account and there is no balance;

2. When canceling a credit card, call the credit card customer service number to apply for cancellation.

3. It is completely free to cancel the credit card, and there is no cancellation fee.

A credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit.

Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with the merchants and cardholders. Cardholders can overdraft within the prescribed limit. Credit cards are generally special carrier plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there are chips, magnetic strips, and signature strips on the back.

What are the serious consequences of canceling a credit card?

The serious consequence of canceling a credit card is the incurrence of "hidden" interest. The longest interest-free period for a credit card is more than 50 days, and there is also a gap between the billing date and the repayment date. When citizens cancel their credit cards, there may be cases where purchases made with the credit card are not credited in time, resulting in some customers still owing credit cards. If the loan is accumulated over a long period of time, "hidden" interest will accrue.

Therefore, for the sake of safety when canceling a credit card, it is best for customers to call the bank’s customer service number about 40 days after canceling the card to confirm whether their account has been successfully cancelled, so as to avoid future troubles.

For customers, if they plan to cancel the card, it is best to know in advance the card opening time and the time it will take to cancel the card, and reserve time to cancel the card before the next annual fee is charged, so as to avoid paying an extra year. fee. In addition, canceling the card is not the same as canceling the account. Some banks will still retain customer information after canceling the card, while canceling the account will delete all customer information. Therefore, it is recommended that cardholders cancel the account at the same time as the card is cancelled, so that both Protect the security of personal information and enjoy new customer discounts when applying for a new credit card from the bank in the future.

Extended information:

Most banks require credit cards to settle the balance when canceling the card, and to withdraw the balance from the card, you need to pay a handling fee. For example, a joint-stock bank stipulates that when a customer transfers the excess balance from a credit card to a debit card, a handling fee of 5% is required, with a minimum of 5 yuan; if the customer wants to withdraw the excess balance from the card, the handling fee will be higher. High, 1%, minimum 10 yuan.

Another bank stated that if a customer wants to withdraw the balance from the card or transfer money, they will be charged 1% of the amount, with a minimum of 3 yuan and a maximum of 100 yuan. An insider of a state-owned bank pointed out that usually, if the customer swipes the credit card three times in the year, the annual fee of 100 yuan for the next year will be waived. However, if the customer does not swipe the credit card for a year, the bank will start deducting the annual fee of 100 yuan in the second year. If the fee is not repaid in time, a 5% late payment fee will be charged, and the bank will continue to charge it until the customer pays it off.