Friday, March 27, 2009

I Terminated Another Two Credit Cards

I am feeling relief today. I terminated another 2 credit cards by Bank R. Actually, I called to the customer service centre last Saturday to terminate my cards. The friendly and helpful customer service advised me to write a termination letter and fax to their customer service centre. She also advise me to cut-through my cards, photostat it and attach together with my termination letters. She said it's saver to photostat the cut-through cards and fax to them rather than send the cut-through cards by post to them. Which I think is quite true. 

This morning, I did what the customer service advised me to do. By 5:30 pm, another customer service from Bank R head office called me to enquire about my termination. I am surprised by the prompt action by Bank R. Because I am expecting the reply within few working days. She said will offer me the cards with free-for-life subscription. I firmly told her that "Thank you but I decided to terminate my credit cards". Then she asked me the reasons for the termination. I told her I have too many cards. Also, I told her that actually their credit card sales representative forced me to sign up for the credit cards. I can hear she's smiling at the other end. I think she understood what I meant. Finally she said she'll process the cancellation of my cards.

So, from now on, I only have one active credit card and another one as back-up. And I completed one of my 2009 financial goals.


  1. Hi Yan, it is great to see you taking the proactive action of cancelling unnecessary credit cards.

    Believe it or not, I never had a credit card in my life. My husband carries two cards, one for his expenses and one for mine which is normally for grocery shopping. This helps us to know exactly what we spent our money on and how much.

    We have have to take control of our credit card usage and not the other way round :)

  2. Hi Jacquelyn, thank you for your comment. I learned to manage my credit cards and also to 'shoooh' away all those credit card consultants. Yes, I know people who lives without credit card, and they're debt free :)

    I really feel relief after terminated those unused credit cards.