Credit Card
I want to stop using and cancel a credit card.
Is there a right way to do this? Do I notify them
and cut it up? If I just stop using it they would
probably continue to charge me for the paper billing
every month. Thank you.
Terry Says
The right way is to contact the card company and request cancellation. Then wait a month and check your credit report to see if it is marked “closed.” Please be aware if this is your longest-held credit card, it could negatively impact your credit score. In that case, just keep the card and don’t charge anything! Let them pay for sending you a monthly zero bill!
