There are several reasons that sometimes make it necessary to cancel your credit card. Do you make plans to cancel yours? In this article we explain in detail what you need to know to do it without complications.
The decision to cancel your credit card may come from purely personal reasons, but there are situations where it becomes imperative.
1. In case of card theft
One of the situations is in case of theft. Mariana, for example, made Erasmus in Rome and decided to be accompanied by her credit card. On a night of socializing with his new friends, he was distracted for a moment, and when he realized his wallet was gone, along with his card.
2. In case of loss
Henry, distracted as he was, had no idea where his card might be. He searched, searched, and did not find him. The card might have been lost in some backpack, at a friend’s house, or it might even have fallen from his pocket in the middle of the street. Tired of searching, decided to cancel it.
3. If you think you were (or may have been) a victim of fraud
In these situations you have to be careful as your card may be in the wrong hands to be used for a variety of purposes. It is necessary to be careful, because even if you have it in your hands, it may have been “stolen”, because it is enough for thieves to access the information in it to use it.
4) If it is not the right card for you
If you are considering canceling your card because you are just taking up space in your wallet, you probably don’t have the right product.
If, for example, you earn miles but do not like to travel; partner stores of the financial institution are far from your preference; What’s more, you’re interested in cashback but your card doesn’t offer it… maybe it’s time to cancel it and switch to a more suitable one.
The best thing to do is to cancel the card you have
Canceling the card is simple: just let the bank know your decision. In most cases you can do this over the phone, although this may vary from bank to bank. You should contact the number on the back of the card. If you don’t have it, check your bank’s page. If this is an urgent case, such as loss or theft, you can and should request immediate card lock.
Find the card that gives you the most benefits in two minutes
Undoubtedly, if used carefully, a credit card can have great advantages: although it can be repaid immediately after being used, it also serves as a monthly loan in your wallet.
Depending on the card, you can still qualify for insurance fraud, travel insurance and even health. In addition to insurance, earn airline miles for each purchase you make, as well as cashback , points and discounts to use on partners.
There is a varied offer in Portugal, from which you can choose the one that meets the conditions you are looking for and that make the most sense for you.