Request Letter to Bank for Cancellation/ Closing of Credit Card

Circumstances: A person may request the bank to close his credit card account permanently under various circumstances viz. he doesn't want to continue to use credit cards because of high use of it causing an increase in expenses, or he is not satisfied with that bank's credit card features or charges, or there was some unwanted dispute relating to the credit card transactions, etc.

Think twice: Whatever the reasons be, it would be wise to evaluate the situation properly and then only apply for closure of credit card account and surrendering of the credit card. Because in many cases it is seen that just after a few days the person realizes that he has done a mistake by giving up the credit card and then he again applies for the credit card.

Demerits: If you don't have a credit card, then (1) In the time of need, you may not have enough money to buy urgently needed things; (2) Once you surrender the credit card and then again apply for it, the bank might not approve it; (3) If bank approves it again, then some charges may be levied again.

Surrender: Anyways, if you are sure to apply for the closure of the credit card, then you can visit the bank's branch and submit the necessary form for it. Or else you can download the form from the bank's website and submit it at their branch or send it at the address given therein. Or else if the bank so allows you can write a simple letter with the credit card details and submit it at the bank's branch office.

Following format can be useful. Fill in the necessary details and submit it to the bank only.

FORMAT

Date: .................

To

The Manager

(Name of the Bank)

(Name of the Branch)

(Branch Address)

Sub.: Application for closure of my credit card.

Dear Sir/Madam,

I am hereby kindly requesting you to cancel/close my credit card account. Details of which are mentioned below.

Credit Card Number: .............................

Name of the Card Member/Holder: .....................

Reason for card cancellation/closure: I have been using it recklessly for last few months and it is affecting my monthly savings in money. Hence, I want to close it.

There is a loan active in the said credit card account. The same may be closed too and the necessary amount including interest, if any, may kindly be debited from my savings account with your bank bearing account number ..............................

I have read and understood the terms and conditions of the bank regarding this closure of credit card and I agree to abide by the same.

Kindly do the needful and communicate accordingly.

Thanking you!

Yours faithfully,

signature

(Name of the Credit Card holder)