Close Them Down

by | Jun. 02, 2008


Dear Dave, I've been listening to you for a while, and I'm finally ready to cut up my credit cards. Should I contact these companies and close the accounts formally, or will they just shut them down due to lack of use? Rita Dear Rita, Credit card companies won't close an account due to a lack of use on the holder's part. You need to talk to these people personally, tell them to close the accounts and then YOU need to go back later and make sure they're closed. Lots of credit card companies are bad about not following through on this kind of thing. They want the accounts to stay open so they have a chance to keep taking your money! You don't want those accounts left open, Rita. There's a lot of identity theft and other misuses of information going on in the world today. Always be as careful as possible with your money AND your information! Dave
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