What is the Best Excuse for Cancelling a Credit Card?

credit-card-debt

Having a credit card has its pros and cons. Pros – not needing to bring cash every time, being able to buy things in advance, etc… Cons – drowning in credit card debt due to financial mismanagement, uncontrollable spending, etc… When the cons outweigh the pros then it is time to cancel our credit cards. But what reason /excuse do we give to our credit card issuers?

To answer simply, we do not need to give any reason. If we want to cancel our card at anytime (that is assuming you have $0 balance with your card…), we are not obliged to give them any reason at all. However, there are those shy types that feel the need to give a reason to do so. Or those that think that giving a reason is much more “professional”. In any case, I have thought of some reasons why we want to cancel our credit cards.

Here are my top 5 reasons to cancel my credit card:

  1. I have too many credit cards!
  2. I can no longer afford to pay credit card interests.
  3. I don’t like the color of my credit card.
  4. My credit card has a high APR.
  5. My credit card Rewards Program stinks.

What about you? Can you think of other reasons to cancel yours?