If I have had a credit card for 5 months, can I cancel it?

10-16-2007, 08:18 AM

or do I have to wait 12 months, or should I just stop using it?

10-16-2007, 08:19 AM

You can close the acct at any time. You will still be responsible for the amount owed.

10-16-2007, 08:21 AM

I think you can cancel it, if you haven't spent on it, but if you have, you have to pay it off then cancel it (I guess).

10-16-2007, 08:22 AM

YES!
cut it up and pay it off .
if you dont use it you are good.

10-16-2007, 08:23 AM

you can probably cancel it. look for a phone number on your credit card bill, call and cancel it, ask the person you talk to for their employee number and make note of it - so that you have a record that you cancelled.

you can stop using your credit card anytime, but you will still have to pay for anything you bought, and any interest the credit card company is charging you..

10-16-2007, 08:25 AM

pay it off
cancel it
cut it up
throw it away

10-16-2007, 08:26 AM

You can close the account at any time by paying it off and letting the card company know you want the account to be closed. They aren't like cell phones, for example, that you have a contract for a year or two. I'll repeat that: by law, you cannot enter into a contract that requires you to leave a credit card account open.

If you have the self-discipline to just stop using it, I would suggest leaving it open because having that account open will be beneficial to your credit history.

10-16-2007, 08:26 AM

pay off all outstanding debt on it, then call them to close the account.
you are not in any time locked contract.

10-16-2007, 08:26 AM

depends on your contract with them. but most of them i would say yes at anytime. if not just stop using it and make sure you pay your payments on time. good luck and best wishes.