CommBank acknowledges the Traditional Owners of the lands across Australia as the continuing custodians of Country and Culture. We pay our respect to First Nations peoples and their Elders, past and present. Show
©2022 Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945 There's more to cancelling a credit card than cutting it up. You may want to cancel your card to cut back on spending. Or you may have lost it or decided you're not getting enough value from it. These steps guide you through the process of cancelling your card. 1. Pay off your credit card in fullYour balance must be $0 before you can cancel your credit card. So the first step is to pay off your credit card in full, including any interest or fees. If you can pay your card off straight awayTalk to your bank or credit provider. See if you can pay off and cancel the card immediately online, over the phone or at a branch. If you're finding it hard to pay off your cardContact your bank or credit provider straight away. Or talk to a free financial counsellor. Taking action early stops a small money problem from getting bigger. If you're transferring your balance to another cardConsider the pros and cons to make sure a credit card balance transfer is the right move for you. If you've transferred your balance before, doing this again may affect your credit score. If your card is in more than one nameIf your card is in joint names, both cardholders are responsible. Both must agree to pay off the credit card before cancelling it. If you're the primary cardholder, with someone else as a secondary cardholder, you are responsible for paying the card off before cancelling it. 2. Cancel direct debitsIf you have direct debits or regular payments, cancel them online or ask your credit provider to do it. Check your credit card account to make sure those payments have stopped. If you've signed up for a deal or contractCheck your agreement or talk to the service provider before changing your payments. If you want your payments to continueDon't forget to set up new payments from another account so you don't get behind. 3. Cancel your card and get confirmationCancel onlineLog in to your account and follow the instructions. Cancel over the phoneCall the credit provider and say you want to cancel your credit card. They'll ask to verify your identity, as only the primary cardholder can close the account. Make sure you:
Once your card has been cancelled, your credit card account will be closed. Your credit provider will send you confirmation and a final statement. If you don't get this within a couple of weeks, follow up with them. 4. Ask for a refund if in creditIf you have a credit balance when you close the account, it means the credit provider owes you money. Contact them and ask for a refund. The easiest way is to have that balance transferred to another account. 5. Cut up your cardThe last thing to do is to destroy your credit card. Cut it up or shred it so it can't be used by anyone again. We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it! When you don't want to use a credit card any more, you can close the account. It's usually simple to do this online or over the phone, but there are a few details you need to check before you can completely cancel a card. So, let's take a look at how it works for credit cards in Australia. 5 steps to properly cancel your credit cardFollow these steps to cancel a credit card successfully:
Keep in mind that the actual time it takes to cancel a credit card can vary depending on how long your provider takes to process it. So if you haven't received any notice of the account closure within 1–2 weeks, follow up with them. Or, if you still bank with them, log into your account to see if the card has been cancelled. What number do I call when I want to cancel my credit card?Many credit cards include a phone number on the back that you can call for account enquiries and cancellations. Otherwise, here are details for contacting the major card companies to cancel your card:
What else should I think about before cancelling my credit card?If you're getting ready to close your credit card account, keep the following details in mind to make the process as smooth as possible.
Compare new credit card offersIf you're not happy with your current card but still want one on hand, you could find a better option by comparing some of the latest credit card offers here. *The credit card offers on this page are chosen from a range of credit cards available to us and are not representative of all the products available in the market. The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs. Frequently asked questionsWhy would I cancel my credit card?There are many different reasons people cancel a credit card. Some of the most common reasons you might want to cancel your card include:
Whatever the reason, it is important that you cancel your card properly to avoid more fees and hassles down the track. I want to cancel two credit cards. Will this have a negative effect on my creditworthiness?Each time you apply for credit or close a credit account, the details are reflected on your credit file. While lenders might view too many listings as a risk, closing two accounts to minimise available credit is unlikely to hurt your credit score in the long run. Just remember to close the accounts properly so that there are no outstanding debts or defaults for either of the cards. I cut my credit card up but did not cancel it. Can I get a replacement card?If you haven't gone through the steps of actually closing your account, you can get a replacement card by calling your credit card provider. Keep in mind that just cutting up a card won't change the fact that your account is active, so fees and charges may still apply even if you don't have a physical card to use for payments. How will I know when my account has been closed?The provider will send you confirmation of the account's closure once the process is complete. Save these details in case there is ever any question in the future about the account. Will I be charged an annual fee when I cancel a credit card?If you cancel a credit card before the date that your annual fee is charged, you will not have to pay a new annual fee. If you are not sure when the annual fee is charged, contact your provider to find out. You should also make sure that there is no balance on the card. If you cancel the account online, take a screenshot to confirm the process is complete (or get a reference if you do it over the phone). That way you'll have proof the request was received before the annual fee was charged. What happens if I don't cancel the card but just never use it?If you don't use the card but have a balance – including from an annual fee – you will need to make minimum payments by the due date on each statement. Otherwise you could be charged late payment fees, which will add to the account balance. If the account has no annual fee and no balance, keeping it open won't usually cost you anything. But you should still regularly check the account details to help protect yourself against fraud. I am getting ready to buy a home, but have been advised to close any credit card accounts that I don't need or use often, why?One of the items that lenders look into is your available credit, which is usually in the form of personal loans, other mortgages and credit card accounts. Too much credit is considered a risk and can factor into a bank's decision on how much they will lend you for a home loan. You can use a borrowing power calculator to see how your credit limits will affect the amount of money you can potentially borrow for a home loan. Back to top Images: Getty Can I just cancel my credit card?A credit card can be canceled without harming your credit score. To avoid damage to your credit score, paying down credit card balances first (not just the one you're canceling) is key. Closing a charge card won't affect your credit history (history is a factor in your overall credit score).
Can you cancel a credit card at any time?If your card has an annual fee, there's generally no reason to cancel early. Instead, wait until the annual fee posts to your card's account or just before. Most banks and credit card companies have a grace period of at least 30 days where you can cancel the card and still get the annual fee refunded.
Is it better to cancel unused credit cards or keep them?In general, it's best to keep unused credit cards open so that you benefit from a longer average credit history and a larger amount of available credit. Credit scoring models reward you for having long-standing credit accounts, and for using only a small portion of your credit limit.
Can you cancel a credit card without paying it off?You can close a credit card with a balance, but there are a few things to keep in mind. First, by closing the credit card you will no longer be able to use the card to make purchases. Second, you are still responsible for paying off the rest of your balance. Third, the outstanding balance can still accrue interest.
|
如何 cancel credit card
版權 © 2024 zh.paraquee Inc.
