Organizing Credit Cards

Julie_MI_Z5March 31, 2006

True Confession: I will apply for any store credit card that offers me a 20% discount on my first purchase. LOL

What is the right way to cancel these excess credit cards?? Some I've used only the one time.

P.S. I have zero credit card debt, I'm just tired of keeping track of the cards!

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kittiemom

Julie, I'm in a similar situation. DH & I have several cards that have no balances & that we haven't used in a long time. I talked to my banker about the best way to cancel them. I was told that if they would allow cancellation over the phone, go ahead & do that. Also ask the person on the phone for the name of a specific person or dept. you can mail something to. Then, send a letter to the company stating that you want the card cancelled & to put in your credit report that the card was cancelled by you. Keep a copy of the letter in case you are applying for a loan & the company didn't follow your instructions.

    Bookmark   March 31, 2006 at 6:37AM
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Julie_MI_Z5

Thanks Kittiemom!

    Bookmark   April 3, 2006 at 5:46AM
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talley_sue_nyc

I just held onto mine until the store went out of business, LOL!

    Bookmark   April 3, 2006 at 11:17AM
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Julie_MI_Z5

Talley Sue... I have some of those OOB credit cards, too!!! Too funny.

    Bookmark   April 3, 2006 at 6:23PM
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rjvt

You might want to check your credit reports. Those cards might still show up on your report if you haven't cancelled them.

    Bookmark   April 4, 2006 at 9:23AM
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talley_sue_nyc

I did; they're not there anymore.

    Bookmark   April 4, 2006 at 1:59PM
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