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Close Credit Card Letter for the United Kingdom

Close Credit Card Letter Template for England and Wales

A formal written request to a credit card issuer to close a credit card account, governed by English and Welsh law. The letter serves as an official record of the closure request and typically includes account details, confirmation of zero balance or payment arrangements, and the account holder's current contact information. It ensures compliance with UK financial regulations and consumer protection laws while providing a clear audit trail of the account closure request.

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Close Credit Card Letter

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What is a Close Credit Card Letter?

The Close Credit Card Letter is a necessary document when an account holder wishes to terminate their credit card agreement in England and Wales. It provides formal documentation of the closure request and helps protect both parties' interests. The letter should be used when an account holder has decided to close their credit card account, whether due to changing financial needs, consolidation of accounts, or other personal reasons. It typically includes account details, balance status, and contact information, ensuring compliance with UK financial regulations including the Consumer Credit Act 1974 and FCA guidelines.

What sections should be included in a Close Credit Card Letter?

1. Account Information: Credit card account number, name on card, issuing bank

2. Closure Request: Clear statement requesting account closure

3. Balance Status: Confirmation of zero balance or payment arrangement

4. Contact Information: Your current contact details for correspondence

What sections are optional to include in a Close Credit Card Letter?

1. Reason for Closure: Optional explanation for closing the account, used when maintaining relationship with bank

2. Future Communications: Preferred method for receiving final statement or confirmation, used when specific documentation needed

3. Reward Points: Request for information about unused rewards, used when applicable

What schedules should be included in a Close Credit Card Letter?

1. Final Statement Copy: If available, showing zero balance

2. Identification Documents: If required by the bank for verification

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Publisher

Ƶ

Document Type

Letter of Credit

Cost

Free to use
Relevant legal definitions










Clauses












Industries

Consumer Credit Act 1974: Primary legislation governing credit agreements and consumer rights in the UK, including provisions for termination of credit agreements and requirements for notices and communications

Financial Services and Markets Act 2000: Establishes the regulatory framework for financial services in the UK and includes key provisions about consumer protection

Consumer Rights Act 2015: Legislation that sets out consumer rights and business obligations, including provisions about unfair terms in contracts

Payment Services Regulations 2017: Regulations governing payment services including credit cards, containing specific provisions about termination of services

Data Protection Act 2018 and UK GDPR: Legislation regulating the handling of personal data, relevant for any personal information included in credit card closure communications

FCA Regulations and Guidelines: Regulatory guidelines including Consumer Credit Sourcebook (CONC), Banking Conduct of Business Sourcebook (BCOBS), and fair treatment of customers principles

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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