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How to cancel a credit card?

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  • 31-10-2012 8:53pm
    #1
    Wanderer2010
    Registered Users Posts: 6,739 ✭✭✭


    Ok basic question but how exactly do you cancel your credit card? I have one more payment to make and I intend to then move to another card with lower interest rate etc. Is it just a case of, when my balance is zero, writing to them sayig "I no longer wish to use this card, I have moved and want the account cancelled?" and thats it? Does this need to be done before April to cancel the stamp duty on that card? Any info is appreciated, I hear a lot on new cards and signing up but nothing on cancelling it and I would rather avoid the hassle of them ringing me up and advising me to stay.


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    Just write to them to cancel. They should have a form in branch to do this also. When you close the account they will charge €30 stamp duty as the stamp duty which is charged in April is for the the previous year up to April, not the year ahead so you would be liable for the charge on the card as you had it between April 2012 and March 2013. Cancelling anytime in this period will mean you will have to pay the charge. You can get a letter from the bank after you pay this charge to say you have paid the card duty up to April 2013 and then the new card provider wont charge you in April 2013.


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