How do I cancel credit card application

You made an application for a credit card just a few days back. Now you want to cancel the application. You wonder ‘How do I cancel credit card application without damaging my credit history? There may be umpteen reasons for asking how do I cancel credit card application, but ensure it doesn’t affect your credit rating, which will show up in your credit report.

To cancel a credit card application, the first step would be to notify the issuer of your intention.  You can call them at their customer service number, which you will find on their website. The customer care people will enquire the reasons for your sudden desire to opt for cancellation of your credit card application.

Explain to them the reasons. Make it convincing. Ask for complete details on where you need to send the letter and to whom it needs to be addressed.  

Fill them up on all details about the application and explain why you want it cancelled. You also need to follow it up with a letter addressed to the company. Make sure the letter is sent through certified mail.

The next step would be to wait patiently until the issuer has effected the cancellation successfully. The whole process could take a month at least. Subscribe for a copy of your credit report online to check your credit scoring.

After you get hold of a copy of your credit report, check for any changes in the report. If your credit report shows negativity, then contact the issuer with whom you an application and the credit bureau instantly to find out the reasons for the negativity on your credit report.

Point out the discrepancy and have your credit history rectified immediately. Remember that your credit score and credit history are important. They reflect your financial status and ability to avail of loans.

How do I cancel credit card application