How to Cancel Your Credit Card

How do you actually get rid of your credit cards? Watch this video blog to find out!

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[Skittleboys]

I am credit card free for the 2nd time in my life and I'm never going back! THANK YOU!!!! RACHEL SO

[shineonshy]

Rachel, your enthusiasm gives me SO MUCH JOY! Your wisdom is ADMIRABLE! My credit card is paid off & I'm closing that thang TODAY! And as a result, I'll no longer have credit card debt. Yay!!! Thank you for sharing this information and desiring the BEST LIFE for people. God bless!!!

[kellyhinseth]

I just got off the phone with two credit card companies and I cancelled BOTH cards and denied all of their offers.

I’ve never felt more empowered.

[ontheroadwithjoy]

I just closed out two paid off credit cards, and thanks to this vid, I asked for a paper copy of the cancellation to be mailed to me. When I mentioned, I was on the Dave Ramsey debt payoff plan, the credit card reps both knew exactly what I was talking about, congratulated me, and wished me well. I wasn't really expecting that, but nice touch on their part.

BTW...I chose to get a new 0% everything card to use to finish paying off the last of my debts, interest free. That will be done within a year, well within the time they allow, [15 mos] at 0 interest. This will save me $600 of interest charges. I have a low social security income, therefore the $600 is NOT chicken feed to me. I feel it's smart to go for the lowest interest fees possible, as you get rid of your debt.

[UnblockedOne]

Yep, I've always had bad credit & been basically debt free. The last few years I started working on my credit. Now, that I have great credit, I've become saddled with debt. This year & going forward I'm not going to care about my credit score anymore.

[generallinks]

Thank you this gave so much clarity on closing a credit card 👌🏾

[Madoriko]

You are so positive I love your energy!

[jimmy]

I'm thank you a lot for the information. Greetings from Puerto Rico

[Rahrah_tee]

I know Rachel and Dave always say you don't need a credit card, but where I live, you can only pay for parking in this city with credit cards. They do not accept cash or debit. So after cutting up all my credit cards and realizing I can never take my kids to the zoo or park downtown... I eventually had to get a prepaid credit card just to pay for parking. Also, car rental companies will not accept anything other than a credit card either. I've tried. I live in Canada.

[jimgresham]

Hi, when you say cancel card by mail, is that with pen paper and stamp or e-mail ? Thanks.

[vhernandez]

HI Rachel, I have been doing a little research since I wanted to close two credit card accounts which I don't really need. Some of the research stated that it is important to let the credit card company know that "you" the customer is initiating the request so that this information goes on your credit history and does not affect your overall credit information.. Any thoughts on this. Thank you for your input.

[pao]

I have 2 credit cards they charge me all the time each month and I do not wan my credit score go down. This is why am scare cancel. I do not used and I do not own bud they charge me month by moth. What can i do in this situation ?

[lindaemartinez]

Rachel, will closing credit cards damage your credit score? The problem I have is that you can use your social number when your wanting to charge some items, ugh:(

[BadWolf]

I was going to purchase your book but my bank account is empty

[lovalin]

I’m kind of confused when she said write a proof letter To the credit company that you closed the account and then she said make sure to save a proof letter from them; how do I write them a letter? Can someone explain?

[dayrich]

we have only had 1 credit card to a store that we got to get a discount. and before we closed it, it was the most stressful week of my life! tjat was our first credit card and i never want one again..

[finallyfiguringoutlife]

The mistake I made was I put all savings but $1000 on debt. I had baby step one then was unexpectedly laid off the next week. My house payment was $700.00 including taxes and insurance and I didn't have any other money. I maxed out the credit card trying to survive and eventually I closed it. I've been either underemployed or laid off since. My dad has tried to help but it's put a burden on him. Hurricane Katrina caused a one bedroom apartment to rent for $800 plus a month so moving isn't an option. I was also told I won't be able to get a car loan because I've worked several low paying jobs to survive and I don't have money to pay cash for a car. The car has $70, 000 miles and I pray every day for God to keep it going. I use YNAB for budgeting and belong to a FB fan group. I think I'm the only one who doesn't charge everything. It's been tempting to get another credit card to ward off Murphy but I'm determined to find away to keep going. I only have $9000 of consumer debt left plus the HELOC and mortgage. Pray I find away!

[rolo_m.thesecond]

Thanks for the info, just at this uncertain time hit baby step 1 & going to work on #2. The first 2 of 7 credit cards are under $200 then under $300 and I know they can be paid off Soon. Wasn't sure what was the process once a card was paid! TY TY TY

[bellyacre]

I let someone talk me into a card to get a 40% discount on a purchase. It came with 4 trial magazine subscriptions. I have no balance. But, they tried to sneak in magazine renewals. I cancelled all 4 and thought I was done. But, am still getting one magazine. I Really don't want this card. Or, the magazine gimmicks.

[mariaatucd]

Can you do a video on how to clean up your credit history-- correcting names, addresses, etc.