You have decided that it’s time you took control of all those credit cards in your wallet. So you shred the cards you aren’t using and toss them in the trash.
That takes care of those accounts. Or does it?
While you may think you have just gotten rid of all those credit card accounts, nothing could be further from fact.
So how should you close a credit account? Start by contacting each of your creditors by phone and asking for info on closing your account. The customer service number should be on the back of the card or on your monthly statement. Some creditors may close the account while you are on the phone and others may require a letter. Send the letter by certified mail, return receipt requested. Wait a couple of months and get copies of your credit reports from the three credit bureaus. The accounts should be listed as “closed by card holder.”