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
Please stop using credit card..you will
ReplyDeleteKnow the value of money..
100%;TRUE
ReplyDeleteThe credit card services is pathetic and such same fool thing they their employees said every costumer that if u use this card it will be very helpful for u and this and that but they don't tell u about how much money the cut from ur bank account they are just doing shameless things a ordinary man easy came in their these types of game. So what's a different between them and a shopkeeper they are also doing same while shoppkeer us best from them I . In my neighborhood my uncle lives they are just very tensed about their credit card everytime they cut their money. One day was crying also the bank are shameless
ReplyDeleteAbsolutely 💯 percent right
Delete