Want to Close Credit Card Account Without Adverse Consequences
Guest: nessaness
Post subject: Want to Close Credit Card Account Without Adverse Consequences
Posted: Thu Jun 22, 2006 2:03 am
I have paid off a sub-sub-subprime card from a company with a VERY disreputable history. I am in need of some information on how to properly close this account without any adverse actions taken against me.
This company has a history of placing a "CLOSED BY CREDITOR" on peoples credit reports even when requested by the card holder. They then do nothing about it when questioned and refuse to fix it if they even answer the phone at all.
I am curious how to properly request that my account be closed showing that I requested it. How do ask them that? Also, how can I obtain proof that I requested that since it is illegal to record phone calls in my state?
This company has a very poor reputation for such actions and I am very worried that they will do as they please. It is hard enough to shut off this card seeing as they do not even provide a phone number on their website !!! I had to find a phone number for them on my credit report !!!
I need to close this account immediately as my yearly fee will be on my next bill.
Last edited by nessaness on Thu Jun 22, 2006 3:18 am; edited 1 time in total
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Guest: preluder
Posted: Thu Jun 22, 2006 2:14 am
should be closed by consumer
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Guest: fire3000
Credit Expert (100+ Posts)
Posted: Thu Jun 22, 2006 7:47 am
First verify that your balance is zero by checking your balance online. There should be a telephone number for customer service on the back of your card. First try calling them and requesting that it be closed and that they report it to the CRAs as "Closed by request of consumer" and that they mail you a confirmation letter. If that does not work, write a letter stating your desire to close, cut your card in half, and send it all to their mailing address (not the payment address) via certified mail return receipt requested. Do not pay the annual fee. If the account still shows on your credit reports after 45 days, send a dispute form to all 3 credit bureaus saying that you closed the card and sent a certified letter stating this. If all of that does not get rid of it try contacting the BBB. I do not think they can not report the unpaid annual fee as valid unpaid debt.
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Guest: hdporter
Credit Expert (100+ Posts)
Posted: Thu Jun 22, 2006 7:56 am
This is a sticky situation, for if the creditor reports the account as closed by them, it may be difficult to convince a credit bureau to accept your word that you closed the account.
Given your concern, here's what I would do: Send your request by letter. It's critical that the letter be sent to the address specified by the creditor for account correspondence. Use of any other address may allow them to claim that the letter wasn't properly submitted.
Obtain a blank Certified Mail Receipt (Form 3800, green on white) from the post office. In your letter, clearly show the form's serial number ("XXXX XXXX XXXX XXXX") at the top. Bring your letter with the form to the post office and pay the appropriate fees, including the Return Receipt Fee. (You don't want to indicate Restricted Delivery). There will be a green return card for you to complete, with your mailing address, that will be attached to the letter by the agent.
In the event that the account later shows as "Closed by Grantor", your copy of the dated letter, which includes the form's serial number, and a dated receipt for delivery, will hopefully provide sufficient evidence to submit to the credit bureau that your closure request was voluntary and not made by the creditor.
It would be helpful to others if you eventually reported back on your experience.
- Harry
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Want to Close Credit Card Account Without Adverse Consequences
Posted: Thu Jun 22, 2006 2:03 am
I have paid off a sub-sub-subprime card from a company with a VERY disreputable history. I am in need of some information on how to properly close this account without any adverse actions taken against me.
This company has a history of placing a "CLOSED BY CREDITOR" on peoples credit reports even when requested by the card holder. They then do nothing about it when questioned and refuse to fix it if they even answer the phone at all.
I am curious how to properly request that my account be closed showing that I requested it. How do ask them that? Also, how can I obtain proof that I requested that since it is illegal to record phone calls in my state?
This company has a very poor reputation for such actions and I am very worried that they will do as they please. It is hard enough to shut off this card seeing as they do not even provide a phone number on their website !!! I had to find a phone number for them on my credit report !!!
I need to close this account immediately as my yearly fee will be on my next bill.
Last edited by nessaness on Thu Jun 22, 2006 3:18 am; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: preluder
Posted: Thu Jun 22, 2006 2:14 am
should be closed by consumer
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fire3000
Credit Expert (100+ Posts)
Posted: Thu Jun 22, 2006 7:47 am
First verify that your balance is zero by checking your balance online. There should be a telephone number for customer service on the back of your card. First try calling them and requesting that it be closed and that they report it to the CRAs as "Closed by request of consumer" and that they mail you a confirmation letter. If that does not work, write a letter stating your desire to close, cut your card in half, and send it all to their mailing address (not the payment address) via certified mail return receipt requested. Do not pay the annual fee. If the account still shows on your credit reports after 45 days, send a dispute form to all 3 credit bureaus saying that you closed the card and sent a certified letter stating this. If all of that does not get rid of it try contacting the BBB. I do not think they can not report the unpaid annual fee as valid unpaid debt.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Credit Expert (100+ Posts)
Posted: Thu Jun 22, 2006 7:56 am
This is a sticky situation, for if the creditor reports the account as closed by them, it may be difficult to convince a credit bureau to accept your word that you closed the account.
Given your concern, here's what I would do: Send your request by letter. It's critical that the letter be sent to the address specified by the creditor for account correspondence. Use of any other address may allow them to claim that the letter wasn't properly submitted.
Obtain a blank Certified Mail Receipt (Form 3800, green on white) from the post office. In your letter, clearly show the form's serial number ("XXXX XXXX XXXX XXXX") at the top. Bring your letter with the form to the post office and pay the appropriate fees, including the Return Receipt Fee. (You don't want to indicate Restricted Delivery). There will be a green return card for you to complete, with your mailing address, that will be attached to the letter by the agent.
In the event that the account later shows as "Closed by Grantor", your copy of the dated letter, which includes the form's serial number, and a dated receipt for delivery, will hopefully provide sufficient evidence to submit to the credit bureau that your closure request was voluntary and not made by the creditor.
It would be helpful to others if you eventually reported back on your experience.
- Harry
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 3:53 PM
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