Credit card is one of the most popular and sought after banking offers. Having issued it once for a certain period and with a fixed limit, you can use borrowed funds at any time. Many clients of financial institutions, along with a payroll card, have a credit card. However, in the current economic situation, most borrowers decide to refuse to use this type of service, since no one, even the most qualified financial analysts, is able to predict the likely difficulties.
When can a credit card be helpful?
Such a banking product can be very useful in case of unforeseen repairs or the need to replace a failed appliance with large household appliances. There are times when paying with a credit card is more profitable than using a regular debit card. Many large banks, together with their partners, carry out various loyalty programs, participating in which, product holders have the right to a discount or cashback. And given the fact that many credit cards have a grace period, their use becomes profitable.
But not always the use of borrowed funds in this way can be useful for the client. Then he begins to think about how to refuse a credit card. Financial experts do not recommend filling out these products in stores when buying digital and household appliances. Also, in no case should you activate and use funds from credit cards received by mail, especially if the client has not left an application for its execution. How to correctly refuse an unnecessary product and is it possible to do this without prejudice to your credit reputation?
Can I refuse a credit card?
It is always possible to refuse to use a banking product. However, the method of refusal depends on whether it was used earlier, or it was simply sent by the bank in a mail envelope to the house. If the card was activated, and the holder used borrowed funds, then first of all the borrower must take care of the return of the entire spent amount and interest for use. In other words, ensure the absence of a negative balance.
When signing an agreement on issuing a card, it is important to understand that one way or another the bank will charge a fee, regardless of whether the borrower uses it or not. As a rule, this condition is spelled out in the contract. Therefore, if you have a question about how to refuse a credit card, even if it has never been used, you should be prepared to pay a fee for its servicing (the size depends on how much time has passed after signing the contract).
As a rule, when applying to the bank with a statement about the desire to pay off the debt and terminate the service contract, the loan specialist asks a lot of questions, trying to understand the reason. The borrower is not required to answer these questions and can simply ignore them. The bank has the right to refuse to close an account only because of a negative balance.
How to opt out: instructions for credit card holders
In order to refuse further servicing and use of a credit card, it is necessary to close a credit account that is tied to it. Plastic is just a means of use, so if the account is not closed and the card is destroyed, this does not mean the end of the whole “story”.
- You must personally come to the branch of the banking institution with which the contract was drawn up, present a loan product (card) and passport.
- Fill out the application for closing the account according to the form provided.
- If the borrower's debt obligations are fully fulfilled, the contract will be closed. It is imperative that the employee truly destroys the card. He must do this in the presence of the client. It is also worth requesting a document confirming the absence of debt on the account and a document on closing a credit account.
The closing procedure, as a rule, is the same in all banks. However, closing an account takes different time in each organization. On average, this procedure takes from several days to a week.
Impose a credit card: how to refuse?
In fact, the bank is not entitled to oblige the client to sign a loan agreement under the current legislation. But more often, such banking products are imposed in veiled ways. In any case, if the card is sent home, or experts constantly call with offers, then you can insist on deleting your data from the client base.
The problem of how to refuse a credit card arises only if the person really did not restrain himself and signed a service agreement. Often, buyers are forced to agree to such additional products, who draw up any household or digital appliances under a loan or installment agreement in large hypermarkets where bank representatives work. Can I refuse a credit card in this case? Of course, this requirement is illegal. Often, loan officers inform the client that issuing a card is a prerequisite. Although you can arrange equipment in installments without it.
How to refuse an inactive credit card?
Consider the universal situation: the bank sent a credit card with the attached letter, which describes all the conditions for its use. However, the recipient decided not to use the product. It turns out that he has an inactive credit card. How to abandon it so that there are no problems in the future? In this case, you can not even go to the bank and not write any statements. A credit card will only start if activated and subsequently used. To avoid the temptation, it is recommended to simply cut the plastic and throw it away. No formal procedure is required.
Refusal of a limit
Some borrowers, turning to the bank with a desire to lower or completely abandon the credit card limit, are refused this transaction with the explanation that such an operation is simply impossible to carry out. In reality, this is not so. But then how to refuse a credit card limit? First of all, you need to contact the office and write a statement. However, it is important to remember that you will first have to pay off the resulting debt, because if a negative balance has formed on the account, the bank has every reason to refuse.
Before you refuse a credit card, it is worthwhile to understand that if you want to use this product again, the bank may limit itself to the minimum limit for the borrower or refuse to issue it at all. Often, the refusal to use the card spoils the relationship of the borrower and the lender. But if we take into account the current situation in the financial market, as well as the number and offers of banks, it is unlikely that a person with a positive credit history will not be able to draw up such a product when there is a need for it.