Hey, even canceling a credit card can get you in trouble, if you don't do it correctly.
You can't cancel a credit card if you owe money on your card.
Canceling a credit card can actually hurt your credit, if it looks like the company cancelled your card, or if it lowers the amount of credit you have generally.
Many credit card companies charge you a fee to cancel their card. If you don't pay that fee, the company will eventually turn your account over to a collection agency, and that $30 bill could turn into a bill for thousands.
Canceling a credit card the right way:
This website is powered by FoolProof.
FoolProof is endorsed by the National Association of Consumer Advocates and the Consumer Federation of America.