Most people have one or more credit cards to cover from everyday expenses to the most expensive. And it is that the procedure to obtain it is quite simple, since you can do it from the cell phone and present the documentation online.
However, things become a little more complex when the customer wants to cancel the credit card, in most cases due to lack of knowledge of customers about their rights as financial users.
Both the Central Bank and the Consumer Protection Directorate have specific rules that all companies, beyond the category, must comply with. What are they?
Applying for a credit card is simple, the complex thing is when you want to cancel it. Photo Shutterstock
How do I cancel a credit card?
The process to cancel a credit card, eitherbecause you are not using it or because you consider that it is the only way not to continue borrowing, may have certain particularities depending on the bank or financial institution that issued the plastic.
However, it must comply with the regulations of the Central Bank that establish that it may be required to cancel personally in any branch or through any of the electronic means enabled by the entity for that purpose.
Meanwhile, from the date of submission of your application, banks may not charge any type of commission and / or charge, they may only charge those that are prior to the day of your request.
Can I cancel my credit card even if I have pending payments?
If you have outstanding debts, you can also cancel it. In that case you may be asked to carry out the procedure personally at any branch. Your debt will remain outstanding and the card issuer may make the claim, but they will no longer charge you maintenance fees.
The consumptions made in installments will continue to be discounted monthly taking into account the agreed amortization system but the maintenance cost will not be charged. They will only be able to charge the charges for sending an account statement in paper format (not virtual), if that modality was previously chosen.
Most people have one or more credit cards to cover everyday expenses. Photo: Martín Bonetto
Additional credit card: can I cancel it and keep the holder?
Additional cards are extensions that you authorize for other people to use. The credit card holder is responsible for the consumption made with these extensions. It is for this reason that your credit card company has to inform you of the cost of each additional card.
In the case of wanting to cancel it, it can be done at any time and keep your credit card as the holder.
Step by step, how to cancel the credit card online?
The request for the cancellation of the card can be requested through the website of the bank or the issuing entity.
Log in to homebanking with username and password and select, on the far right above, the "Unsubscribe button".
Choose the product that is going to be unsubscribed, which in this case will be "credit card".
Choose the one that corresponds, in the case of having several, or select them all.
What happens to the automatic renewal of the card if I want to cancel it?
If your credit card automatically renews, you can ask them not to. For that, you have to notify your decision to the issuing company 30 days before the card expires.
If you did not and the company renews your card, you can also unsubscribe, but you will have to pay the renewal fees.
LN
See also
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