/vcf-files-c603a2bfa93a465883a245fbf604d245.png "how to close vcard application")
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HOW TO CLOSE VCARD APPLICATION HOW TO
Check our guide on how to cancel a deceased spouse or relative’s credit card. If a family member has passed away, you’ll want to tie up their loose financial ends. How to cancel a credit card after a death
Include your credit card number and account number.įor additional steps, read our guide to canceling your credit card. After you’ve canceled your credit cardĪfter you’ve canceled your card online or over the phone, send a written letter to Citibank with your cancellation request. For more information, read our guide on how credit utilization affects your credit score. Credit bureaus like to see your credit utilization ratio at 30% or below, and closing a card with a high spending limit and a zero balance might adjust your ratio to above 30%. Credit bureaus like Experian, Equifax and TransUnion are interested in your total credit available and how much of that you’re using, referred to as your credit utilization ratio.Ī low ratio is a strong indicator of a safe credit risk. Yes, canceling a credit card - especially one with a high spending limit - can hurt your credit score. Will canceling my Citi credit card affect my credit score? If you’re deep in debt and want to close your card to avoid spending more, consider saying no to any enticement the rep throws your way. Of course, perks might not solve the core problem behind why you wanted to cancel your card in the first place. For example, would you be willing to stay if you’re offered a lower interest rate? Know whether you’ll change your mind if the rep offers enticing perks. They may even forward you to the bank’s customer retention division for more persuading. The bank’s representative will likely try to convince you to keep your credit card open. Are you 100% certain you want to cancel your card, or do you simply want to change an aspect of your card you’re unhappy with?Ĭanceling over the phone is not a straightforward process. In that case, call Citi at 80.īefore you call, know why you’re trying to cancel. You may not be able to cancel your card online.
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