I am often asked if I want to cancel my credit card, what is the difference between cancellation and account cancellation, and if I don't use my credit card for a long time, will it be cancelled automatically? Let's get to know.
How much do you know about credit card cancellation
1、 The difference between card cancellation and account cancellation
"Cancel card" and "Cancel Account" are two concepts
Card cancellation: if an individual has more than one credit card in the name of a bank, one of them is called "card cancellation".
Account cancellation: canceling all credit cards in a bank's name is called account cancellation.
Only cancel the card, not the account. You can call to reopen the card in a short time.
2、 Will card cancellation and account cancellation affect credit investigation
The answer is No. Only overdue records will affect your credit. As for too much consumer loans and too much post loan management, although they will be affected by some specific applications, they are neutral events in principle. Overdue is obviously negative information.
What kind of cards you have held and how many accounts you have opened are lifelong. You can always find them in the credit report, but they only show that they have been cancelled. The bank will not care about your past, they care about your current card number and account number, and even only care about your bank number.
At present, many banks support tolerance, and repayment within 3-5 days after the final repayment date is not overdue. If the time limit is exceeded, as long as it is not maliciously overdue, you can call the bank quickly to ask for help. Generally, you will be accommodating. But if the overdue time is too long, the amount is too large, and the number of transactions is too large, the bank will upload it to the central bank's credit reference system. The overdue records will be kept for 5 years, which should be noted.
3、 Does TX have credit at the meeting?
When it comes to credit reporting, by the way, TX will not affect credit reporting. The bank's punishment measures for TX behavior include freezing the card, reducing the amount, and joining the blacklist. But none of these will be uploaded for credit reference.
For example, TX behaviors that are easy to be controlled by banks include:
1. The amount of a single credit card is more than 90% of the credit card limit or the credit card is directly empty
2. The card time is non business hours, such as spending a large amount late at night;
3. For example, on the same day, when domestic merchants swiped their cards earlier, a large amount of overseas consumption suddenly occurred, and then they swiped their cards at domestic merchants, which was easy to be controlled by risk;
4. For example, there are more than three transactions within 60 minutes, and the transaction amount is mostly integer;
5. For cancellation transaction, one card is operated on the same POS machine within one day;
6. In the POS terminals which are regarded as risk merchants by UnionPay and card issuing, etc.
4、 Do you need a clearing period for card cancellation and account cancellation?
Many friends call to cancel the card, customer service will say that the application has been accepted, but it takes 45 days to cancel the card, why?
In fact, the card cancellation instruction takes effect immediately, but it does not rule out that before the cancellation of the card, some transactions that have not been recorded, such as overseas transactions, offline POS, manual document pressing, pre authorization and other transactions, have a long settlement cycle, which may take a certain time to be reflected in the bill. If the above transactions occur before the cancellation of the card, the relevant debts still need to be held Card people bear the responsibility. Therefore, it is specially stated in the credit card collection contract that & lsquo; the cardholder shall continue to undertake all transactions of the credit card account within 45 days from the date of application for cancellation
5、 What are the advantages and disadvantages of card and account cancellation
advantage:
1. Avoid annual fees for some sleeping cards
2. Simplify cards to avoid forgetting to repay due to too many cards
3. For some dispensable cards, clean them up. You can make room to apply for your favorite bank card. Many friends hold credit cards from more than a dozen banks, so it is very difficult to apply for a card from a bank they like. At this time, cleaning up some food cards and reducing the number of card lines and cards are helpful to apply for new cards.
Disadvantages:
1. Small total cash flow
2. Some banks may not be able to participate in their activities
3. In case of Puti's "release of water", I had no chance to participate.
Generally speaking, there are both advantages and disadvantages in card and account cancellation. Do the right thing at the right time.
I hope you can get what you want no matter whether you cancel the card or not!