Can I cancel a credit card if I 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 negative effects. The discussion will be divided into two situations based on the current status of the credit card. :

1. Credit cards with normal repayments

I have used credit cards before and incurred debts, and I have always paid them back 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 in 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 no longer want to use their credit cards after paying off the overdue credit cards. They want to eliminate the bad records by canceling the credit cards, but they do not expect that after canceling the credit cards, they will no longer use them. 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.

No matter how troublesome it is to cancel a credit card, the use and application of a credit card may not be so troublesome, especially applying for a credit card. Many people only apply for a credit card in a few minutes when shopping in the mall, and it is even less necessary to use it. As I said, just swipe the card and enter the password. But if you want to cancel the credit card, it is relatively simple. But it will be difficult to apply for a new credit card. The bank's review will be more stringent, and some banks even have According to relevant regulations, you cannot apply for a credit card again within 6 months of canceling a credit card, so if you want to cancel it, it is best to think carefully.

Can a credit card be canceled?

A credit card can be canceled as long as all outstanding balances are paid. Many banks have relevant regulations for credit cards. When the cardholder reaches a certain number of purchases using the credit card in the current year, the bank will waive the annual fee for the credit card in the following year. If the cardholder no longer uses this card and does not pay the annual fee for a long time, it will lead to arrears, interest and late payment fees, and in severe cases, a bad personal credit record, so credit cards that have not been used for a long time will still have to be removed. Logout.

Credit card cancellation method

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1. Telephone banking cancellation: Users can call the corresponding bank hotline and explain the specific situation to the customer service staff who answered the phone, and then Carry out the credit card cancellation operation according to the other party's prompts;

2. Cancellation at the bank counter: The user needs to bring relevant documents to the counter of the bank branch where the credit card needs to be canceled, explain the specific situation to the bank staff, and fill out the relevant application After receiving the information, wait for the staff to assist in canceling the credit card.

It should be noted that if the credit card is lost, the cardholder first needs to apply for a new credit card and then cancel the account. A card fee is required to replace a card, and the cardholder must also withdraw all the balance on the card to ensure that there is no outstanding balance on the card to be canceled

Credit cards can be canceled, but they need to meet the credit card cancellation conditions:

1. Whether the debt has been paid off

When canceling a credit card, check whether the debt has been paid off. Before canceling, you generally need to check whether there is any debt in the credit card, but in some cases If you can't see the bill, it's easy for people to mistakenly think that the balance has been paid off.

2. Whether the fees are paid in full

Whether other fees are paid. Before canceling the credit card, first confirm the annual fee reduction and exemption, followed by management fees, such as SMS notification fees. Some banks do not Deduct early, but deduct last. During the intervening time, it will not be reflected on your credit card statement.

3. Whether to confirm after cancellation

After 45 days of canceling the credit card, check with the bank again to confirm whether the cancellation is successful. Generally, the credit card cancellation cycle of banks is about 45 days.

How to cancel credit card:

1. Cancellation through telephone banking: All credit cards can be canceled through telephone banking. Only when the credit card can be canceled can it be canceled by phone. Call the corresponding bank account and enter the input and information according to the prompts to cancel the account.

2. Cancellation at the bank counter:

(1) Bring valid documents, such as ID card and credit card.

(2) Go to the bank to get the reservation number and queue up

(3) Explain to the service staff that you want to cancel your account, give your credit card to the bank staff, and fill out the relevant application.

(4) Credit card account cancellation is completed.

It is too difficult to cancel a China Merchants Bank credit card

It is not difficult to cancel a China Merchants Bank credit card. As long as the cardholder brings their ID card and credit card, they can go to any branch to cancel the credit card account or Card cancellation procedures. The reason why it is difficult to cancel credit cards is because in order to retain customers, banks usually go back and persuade cardholders to give up the idea of ??canceling their cards. But as long as the balance on the credit card has been settled, customers can cancel the card as they wish.

In addition, even if you cancel the credit card business, the previous overdue records cannot be cancelled. The overdue records will be automatically eliminated 5 years from the date of settlement. If you don’t want to have overdue records in your personal credit report, it’s best to repay every installment on time.

1. Credit card cancellation process

1. Meet the conditions for cancellation.

Under normal circumstances, if your credit card debt has not been paid off, or the annual fee has not been paid, or there is a balance, you cannot cancel it. Of course, some banks’ credit cards have other requirements. Therefore, be sure to ask clearly when calling the official credit card customer service.

2. Cancellation of telephone banking.

Basically, general credit cards can be canceled through telephone banking. Of course, some banks may be a little troublesome, while others are different. For example, China CITIC Bank, China Merchants Bank, etc. are very convenient. Note that the credit card must be able to be canceled before it can be canceled by phone.

3. Cancel at the bank counter.

Going to the bank counter to cancel is also an option. But please pay attention to a few points:

First: Bring necessary documents, such as ID card and credit card. If you owe money on your credit card, you should also prepare money!

Second Two: Remember to avoid the peak hours of the bank to avoid waiting in line for too long and delaying your normal work and life.

Third: Explain the situation to the staff truthfully. If you really want to cancel the card, don’t change your mind easily.

This is the end of the introduction about whether it is easy to cancel a credit card and what will happen if the credit card is canceled. Did you find the information you need?