Request Letter to Bank for Credit Card Cancellation/ Closing

Circumstances: A person may request the bank to close his credit card account permanently under various circumstances. A person may not want to continue to use his credit card because of high use of it causing an increase in expenses. He may not be satisfied with the bank's credit card features and charges levied. He is disappointed with the way a dispute relating to the credit card transaction was concluded.

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

Demerits: If you do not have a credit card, then in the time of need, you may not have enough money to buy urgently needed things. Once you surrender the credit card and then apply for it again, the bank might not approve it. If the bank approves it again, then some charges may be levied.

Surrender: If you decide to apply for the closure of the credit card, then you can visit the bank's branch and submit the necessary form for it. Alternatively, you can download the form from the bank's website and submit it at their branch or send it to the address given therein.

Here is a sample of such a letter for your reference.

TEMPLATE

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

To

The Branch Manager

(Name of the Bank)

(Name of the Branch)

(Branch Address)

Sub.: Application for closure of my credit card.

Dear Sir/Madam,

I hereby kindly request 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 the last few months and it is affecting my monthly savings. 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 and other applicable charges, if any, may kindly be debited from my savings account with your bank bearing account number ........................... I hereby give my consent towards the same.

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.

I am enclosing herewith a self-attested copy of my PAN card for verification purposes.

Kindly do the needful and oblige.

Thanking you,

Yours faithfully,

   (Signature)

(Name of the Credit Card holder)

Encl.: A/a