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Posted: Tue Nov 01, 2005 10:17 am Subject: $0 Balance on Credit Report

Hello All,

I have a zero balance credit card on my credit report from a credit card that I cancelled about two years ago. I mean obviously it isn't a bad thing to owe someone zero dollars, but I was just wondering why it shows up. Not exactly sure how the whole credit report thing works, but it is under "good credit" and I just was wondering if they didn't close my account completely even though I closed it TWICE. I just get nervous about identity theft and if I have a card that is open and I don't keep track of it....then what if the $0 balance turns into a $1000 balance without me knowing.

Please let me know if you have any info. Thanks!
Have a good one! Smile

Posted: Tue Nov 01, 2005 1:06 pm Subject:

Hi Sarah

How are you?

Get in touch with your bank and state that you have already requested the account to be closed a couple of times. But it is still shown with a zero balance in your credit report.

Do you have the credit card with you? Some banks take action only after they receive the cards cut diagonally into two pieces with a letter stating closure of the account.

Send your letter through certified mail with return receipt requested so that you have the proof of closing the account. Keep in touch with the bank and hopefully you will hear from them soon.

Do let me know after you have made the move.

Regards
Roxette

Posted: Wed Nov 02, 2005 10:46 am Subject:

I don't have the credit card anymore. I can't remember if I cut it up and sent it. I may have just cut it up and thrown it away because no one ever told me to send it.

I'm so frustrated with companies making it such an effort to close an account. I am closing my gym membership because I moved and they expect me to send them a letter certified mail 30 days prior to payment of...etc etc. I don't think companies should be allowed to do that...but that's just my opinion.

I got my credit report electronically so I will have to look more specifically at it and then follow up.

Thanks for the info Roxette!

Posted: Wed Nov 02, 2005 12:51 pm Subject:

Sarah

Since you don't remember returning the credit card cut into two pieces, sending letters to close the account is the only thing that you can do at present. Do till you get a written statement from the credit card company about the successful closure of the account.

Regards
Roxette

Posted: Fri Nov 04, 2005 10:50 am Subject:

Yeah I may just write them a letter. I mean its not a huge deal right now, but I just don't want it to become a problem in the future.

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