1. Are there serious consequences if you plan to cancel your credit card?

There are no consequences if you cancel your credit card. However, when canceling a credit card, you must ensure that there is no debt in it, that is, all bank debts must be paid off. The meaning of this debt includes not only the visible account debt, but also the annual fees and interest settled on the periodic settlement date, etc. If you pay attention to the former but fail to pay attention to the latter in time, your card may be in arrears after the card is cancelled, which will seriously affect your bank's personal credit record and add a lot of unnecessary trouble to your future credit activities. Therefore, when canceling the card, be sure to ask clearly and never leave a penny of debt.

2. What are the consequences of canceling a credit card if you no longer want to use it?

It is not recommended to cancel a credit card if you no longer want to use it. This is mainly because there will be some adverse effects, which are divided according to the current status of the credit card. Two situations are discussed.

1. Credit cards with normal repayments

The credit card has been used before and incurred debts, and has always been repaid on time without any overdue payments. Normally, you can cancel such a credit card at any time if you want to, but you have to think clearly. After the credit card is canceled, it will still be recorded on the credit report. Simple basic information, such as the limit, account bank, etc. will still be displayed, but the status It will just become a logout.

In this way, if you apply for a credit card from the same bank next time, the bank will check the previous cancellation record during the approval process, and will ask about the reason for the cancellation during the phone review. It is not difficult to imagine how many people will be disappointed. Applying for a card again will have consequences. There are also banks that even if the credit card is canceled and you apply again, you cannot become a new customer, and you cannot enjoy the new account opening gift, etc.

2. Credit cards with overdue records

Many people don’t want to use their credit cards after they have paid off the credit card overdue. They want to cancel the credit card to eliminate the bad records, but they don’t expect that the credit card will be cancelled. The overdue records are still displayed, which is a bit of a mistake. You must know that bad records on credit cards must be kept for 5 years from the date of termination, so canceling after overdue repayment cannot eliminate bad records.

On the contrary, because the card cannot be used again after cancellation, new records cannot be generated to cover the bad records, and the credit business may be rejected before the bad records are eliminated.

3. How to cancel a credit card account

1. For some banks, no additional procedures are required to cancel the account. You only need to cancel the credit card at the bank counter or call the credit card customer service number. After 45 days, If there are no accounts payable and overflow deposits, the system will automatically cancel the account, such as Bank of Communications;

2. For some banks, after canceling the card, you need to settle all the accounts and then call the customer service number to apply. , such as Agricultural Bank of China, China Construction Bank, etc. For specific information, please consult the staff of the card issuing bank.

Never throw away a credit card after canceling it. Cut off the magnetic strip of the canceled credit card into several pieces and then throw it into the trash. In this case, even if someone wants to do something with your credit card, it will be impossible. You should think twice before applying for a card, take it seriously, handle it carefully, start from beginning to end, and avoid leaving any bad influence on yourself.