2023-06-22 19:25:21
Having a credit card offers you the opportunity to make online payments, purchases of products or services in physical stores, among other benefits, such as prizes, as well as greater purchasing power when you need it. However, just as you can cancel it at any time, the financial institution or bank you can do it too. Here we tell you what the Bank of Mexico says (Banxico) about.
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He Banxico refers that the banking institutions y Limited Purpose Financial Companies (Sofoles) that issue credit cards must abide by the rules established in the Law for the Transparency and Regulation of Financial Serviceswhich seeks, among other things, to improve protection mechanisms for cardholders.
Do you want to cancel your credit card?
According to the National Commission for the Protection and Defense of Users of Financial Services (driving), if you consider that the time to cancel your credit card and you want to do it without problems, you must follow these simple, but important steps.
Paso 1. Your credit card must be in zeros: for the cancellation, the first thing you must do is verify that there is no movement in favor or charge against. It is advisable to print your movement history.
Paso 2. Unsubscribe direct debits: although most will be canceled along with your card, it is convenient that you notify the associated means of payment, because as long as there are pending collections, the bank account cannot be unsubscribed.
Paso 3. Go or call your bank or financial institution the decision to cancel your card: you can do it by phone or in writing at any branch. If you opened the account with another person, both have to give their consent and their signature in person to cancel it.
Remember that the institution is obliged to provide an acknowledgment of receipt, confirmation key or folio number of this cancellation.
They may ask you to deliver the plastic personally. If you don’t have the card, don’t worry, you just have to state in writing that it was destroyed or that you don’t have it.
Do not forget that this procedure is free, so the bank will not be able to apply any penalty or charge any commission for the cancellation of any card.
Can you cancel my credit card?
As we mentioned at the beginning, the Banxico refers that the banks and financial institutions They are regulated under the rules and laws of the sector, and for the purposes of direct cancellation that may apply to a credit card, it indicates that this is possible, and even make a block, according to its own terms and conditions.
“The issuer (bank or institution that granted the plastic) may cancel the contract or unilaterally block the use of the card under the terms provided in the contract itself,” it states in its rules for these institutions.
In addition, once the card is cancelled, the bank or issuer must inform about its decisionwithin a period not exceeding five days following the date of cancellation or blocking.
“In the event of not being able to contact the holder during the aforementioned period and if the cause that gave rise to the cancellation of the contract or the blocking of the Card subsists, the issuer must send him a communication indicating such situation,” he adds.
Therefore, it is important that you review your contract, to know the clauses to which the use of your credit card is subject and to be aware of whether or not you have violated such rules.
Finally, you should know that the notice from the banco It will be mandatory as long as it is not a Mexican authority that requests the cancellation of the plastic.
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MRA
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