How do I cancel a credit card correctly?

A credit card is one of the most popular and popular banking offers. Having issued it once for a certain period and with an established limit, you can use borrowed funds at any time. Many clients of financial institutions, along with a salary card, have a credit card. However, in the current economic situation, most borrowers decide not to use this type of services, since no one, even the most qualified financial analysts, can predict the probable difficulties.

When can a credit card be useful?

Such a banking product can be very useful in case of unforeseen repairs or the need to replace a failed appliance of large household appliances. There are cases when it is more profitable to pay with a credit card than an ordinary debit card. Many large banks together with their partners carry out various loyalty programs, participating in which, the holders of the product have the right to a discount or keshbek. And given that many credit cards have a grace period, their use becomes profitable.

But not always the use of borrowed funds in this way can be useful for the client. Then he starts to think about how to refuse a credit card. Financial experts do not recommend registering these products in stores when buying digital and household appliances. Also, in no case should you activate and use the funds from credit cards that came by mail, especially if the client did not leave an application for its registration. How to competently abandon an unnecessary product and can this be done without compromising your credit reputation?

Can I cancel my credit card?

It is always possible to refuse using a banking product. However, the method of refusal depends on whether it was used before, or simply sent it in a mail envelope to the house. If the card has been activated and the holder has used borrowed funds, the borrower first of all must take care of the return of all the money spent and interest for use. In other words, ensure that there is no negative balance.

By signing the agreement for the card, it is important to understand that in some way the bank will be charged a commission, regardless of whether the borrower uses it or not. As a rule, this condition is stipulated in the contract. Therefore, if there is a question about how to refuse a credit card, even if it has never been used, it is worth to be ready to pay for its maintenance (the size depends on how long it took after the contract was signed).

As a rule, when applying to the bank with a statement about the desire to pay off the debt and terminate the service agreement, the loan officer asks a lot of questions, trying to understand the reason. The borrower does not have to answer these questions and can simply ignore them. The Bank has the right to refuse to close the account only because of a negative balance.

How to refuse: Instructions for credit card holders

In order to refuse further maintenance and use of the credit card, it is necessary to close the credit account, which is tied to it. Plastic is just a means of use, so if the account is not closed and the card is destroyed, it does not mean the end of the whole "history".

• It is necessary to personally appear at the branch of the banking institution with which the contract was drawn up, present the credit product (card) and the passport.
• On the form provided, fill out the application for closing the account.
• If the debt obligations of the borrower are met in full, the contract will be closed. It is extremely important to ensure that the worker actually wipes the card. He must do it in the presence of the client. It is also worth requesting a document confirming the absence of the debt on the account and the document on the closure of the credit account.

The closing procedure, as a rule, is the same for all banks. However, the closure of the account takes different time in each organization. On average, this procedure takes from a few days to a week.

Impose a credit card: how to refuse?

In fact, the bank is not entitled to oblige the client to sign a loan agreement under the current legislation. But most often such banking products are imposed in veiled ways. In any case, if the card is sent home, or the specialists constantly call with offers, then you can insist on removing your data from the client base.

The problem of how to refuse a credit card, arises only if a person really did not restrain himself and signed a service contract. Often, such additional products must be accepted by buyers who make out any household or digital equipment under a loan or installment agreement in large hypermarkets where bank representatives work. Can I cancel my credit card in this case? Of course, this requirement is illegal. Often, loan officers make it to the client that drawing up a card is a prerequisite. Although you can arrange the equipment in installments without it.

How do I cancel a non-activated credit card?

Consider a universal situation: the bank sent a credit card with the attached letter, which describes all the conditions for its use. However, the recipient decided not to use the product. It turns out that he has an unactivated credit card. How to abandon it, so that in the future there are no problems? In this case, you can not even go to the bank and not write any statements. The validity of the credit card starts only if it is activated and used. To avoid the temptation, it is recommended to simply cut the plastic and discard. Initiation of any official procedure is not required.

Refusal from the limit

Some borrowers, turning to the bank with the desire to reduce or completely refuse the credit card limit, are refused in carrying out this operation with the explanation that such an operation is simply impossible to conduct. In reality, this is not the case. But then how to refuse the credit card limit? First of all it is necessary to apply to the department and write a corresponding application. However, it is important to remember that you will have to repay the debt that has arisen, because if there is a negative balance in the account, the bank has all grounds for refusal.

Before canceling a credit card, it is worthwhile to understand that if there is a desire to again use this product, then the bank can limit itself to only a minimum limit for the borrower or refuse at all in its release. Often the refusal to use the card spoils the relationship of the borrower and the lender. But if we take into account the current situation in the financial market, as well as the number and offer of banks, it is unlikely that a person with a positive credit history will not be able to issue such a product when there is a need for it.