Cancel Your Own Credit Account • Letter Templates and Guides

How to write this letter:

1Tell the reader why you are canceling your account with them.
2State how you would like to pay off your account. If necessary, ask for verification of your final balance.
3Close the letter on a respectful note.

Guides

Do not give a lengthy explanation. Because canceling your account will cost the provider business, maintain a respectful tone. You may have future dealings with the same company.

Example Letter #1

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Until market conditions improve, we are canceling our credit accounts and making all purchases on a cash basis. Please send me a final statement showing the amount due to close the account.

We have appreciated your service and hope to continue our relationship as business improves.

Example Letter #2

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Due to unfortunate circumstances beyond my control, I must terminate my credit account. According to my records, my account is $369.86 in arrears. You should receive a check for that amount within the next few days.

Thank you for your outstanding service and patience. I hope to reopen my account at a later date.

Example Letter #3

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Due to budget restrictions, we will be terminating our Doe account effective immediately. All further sales will be on a cash basis. We will pay off our account balance immediately upon receipt of a final billing statement. We thank you for the years of fine service on our account.

Example Letter #4

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I am canceling my credit card with you because of the new annual fee and increased interest rate. Enclosed is my check for $100 to pay off my balance. If I have miscalculated, please bill me for the remaining amount. Thank you for taking care of this for me.

Write Your Letter Step-by-Step

1

Tell the reader why you are canceling your account with them.

Example Sentences for Step 1

Because we are moving our offices to Springfield, and we would like to work with a local distributor, we have decided to close our account with your company. Because of recent budget changes, we have decided to cancel our account with you. In my last correspondence I indicated that if deliveries continued to be late, we would have to terminate our account. I am sorry to report that the problems persist, and have caused a loss of clients. We cannot continue this way, so we are closing our account. In order to simplify my financial affairs, I have decided to close my credit account with you. Due to our corporation's changing needs, we have decided to cancel our account.

Example Phrases for Step 1

business will be on a cash basis cancel our credit account company's changing needs continuing problems with decided to close our account with forced to cut off lines of credit to many of our general economic situation dictates that we have not used our account for have been obliged to simplify moving our offices to no longer require credit obliged to terminate your please understand that we value your business recent budget changes regret that we have to terminate your simplify my financial affairs sound financial footing terminate our credit arrangement this will be effective on too many credit lines until further notice will no longer honor charges on effective immediately would prefer to work with a local

2

State how you would like to pay off your account. If necessary, ask for verification of your final balance.

Example Sentences for Step 2

According to my calculations, I still owe you $894.46. I have included a check for this amount. If your records do not agree, please send me an itemized statement. Please calculate the balance remaining on our account and send it to our new address at 1600 Main Street in Springfield. We have calculated our final balance as $3,672.28. We will pay as soon as we receive verification of this amount. If you wish, you may call and give the information to John Doe in our main office. According to my last bill, I owe you $962.73. Since that billing I have charged an additional $236.09. I have enclosed a check for the amount of $1,198.82, which should cover the total that I owe you. If I owe any more on my account, please notify me immediately. I believe my last payment covered the remaining balance. If I still owe anything, please send me the bill.

Example Phrases for Step 2

according to my last statement according to my calculations advise me of total amount due as of today's date balance is overdue calculate the balance remaining have charged an additional have calculated the final balance as have destroyed my credit cards have included a check for how you will pay off the balance due still owe you please notify me of the final balance please contact us to determine please calculate the final balance send it to our new address at should cover the amount we owe when we receive verification of this amount will settle the final statement will pay you promptly your outstanding balance is

3

Close the letter on a respectful note.

Example Sentences for Step 3

I have valued your service over the past nine years. We have enjoyed doing business with you. Perhaps we will be able to open another account with you in the future. We would appreciate your prompt attention to this matter and thank you for your services. Thank you for providing me with such excellent service. We wish you continued success.

Example Phrases for Step 3

after we have completed our reorganization always appreciated your service enjoyed doing business with you have valued your service hope this setback is temporary hope to do business again soon hope that we can work with you again soon if you feel that this is an error our best wishes for the future providing such excellent service regret having to take this action sympathize with your recent setbacks thank you for your prompt attention trust that this situation will be temporary wish you continued success would appreciate your prompt attention to this matter

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