Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsCredit Cards Ways to CANCEL your credit card, Updated since 30/07/12
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 Aug 17 2011, 12:10 AM
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#1
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Senior Member
4,524 posts Joined: Oct 2007 From: ~Still finding the place~  
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Just wanted to know more about this credit card cancellation..
Let say I wanted to cancel one of my credit card, but the outstanding balance is quite a lot..can I request to pay in installment? or is there any other better way of doing it? as I want to clear my debts, the best way is cancel credit card.. |
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Dec 15 2011, 07:10 PM
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#2
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Senior Member
4,524 posts Joined: Oct 2007 From: ~Still finding the place~
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Wanted to know..if I cancel 1 credit card, I need to clear the outstanding balance right?
After I terminate, bank will send me bill statement right? what if I didn't clear the outstanding balance in 1 shot? the bank will charge me interest or what? Thanks for anyone who willing to help me.. |
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Dec 16 2011, 10:35 AM
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#3
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4,524 posts Joined: Oct 2007 From: ~Still finding the place~
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QUOTE(gerrardling @ Dec 16 2011, 07:57 AM) You CANNOT cancel your card if you still have outstanding balance in ur credit card account Oh my god..wanted to cancel my card before 1 Jan 2012..as maximum 2 cards per person only starting next year.. QUOTE(yhtan @ Dec 16 2011, 08:03 AM) just to confirm about EPP plan, let say i plan to cancel the card and there is few instalment to be clear Wanted to know as well.. Do i have to pay penalty for early settlement?  |
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Dec 16 2011, 04:25 PM
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#4
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QUOTE(MilesAndMore @ Dec 16 2011, 04:22 PM) Actually, you can cancel your card even if there is still unpaid outstanding balance in your credit card. You just have to pay in full when the next statement comes. That mean I can cancel my card even there is outstanding balance? and I'm given 2 years to clear it? with interest?As far as i know, there is no penalty of any sort for HSBC 0% IPP. No worries. You'll be given up to two years to clear your remaining outstanding balance. This is for every bank or some banks only?  This post has been edited by Lineage: Dec 16 2011, 04:26 PM |
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Dec 16 2011, 04:42 PM
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#5
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QUOTE(MilesAndMore @ Dec 16 2011, 04:34 PM) Yes. You can cancel it even if there is outstanding balance. As far as i am concerned, all banks have offer this kind of settlement plan. Ok..Thanks for your information. but I call CIMB..he ask me go bank to ask for more information..lol..cancel credit card cannot go through phone?QUOTE(gerrardling @ Dec 16 2011, 04:37 PM) For sure got interest one Ok..Thanks  |
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Dec 16 2011, 05:04 PM
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#6
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QUOTE(anep @ Dec 16 2011, 04:43 PM) i just cancelled my PB cc yesterday.. 15mins By phone? I wanted to cancel my Eon/Hong Leong Bank GSC Card  |
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Dec 17 2011, 10:27 AM
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#7
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Senior Member
4,524 posts Joined: Oct 2007 From: ~Still finding the place~
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Update:
Yesterday called up Eon/Hong Leong Bank to cancel my card, but she said must clear all outstanding balance only can cancel.. So I cannot cancel my card now until I clear all outstanding.. |
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Dec 17 2011, 11:24 PM
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#8
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QUOTE(MilesAndMore @ Dec 17 2011, 12:28 PM) Man... Hong Leong again... tell them you are earning below RM36,001/pa and need to cancel their credit card by the end of this month. A statement release by BNM clearly states that you must cancel it by the end of the month and must clear the outstanding balance in the next 24-month. Try to talk to them again. Oh..really? ok..will call them to confirm again.. |
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