It is a good idea for anyone to cancel a milestone credit card, but this should be done only when it will not affect your lifestyle. You can consider canceling your milestone credit card when you find a new card that’s cheap or a card that will work better for you.
To be able to do this, you need to know how to cancel the milestone credit card, and this is where this article comes in as it will show you quick steps to get it done.
You must learn how to cancel a milestone credit card properly so that there will be an easy and smooth transition to another credit card. In this article, we will break down all of these steps in simple and easy-to-understand ways, so check out the five steps you can adopt in canceling a milestone credit card.
How To Cancel Milestone Credit Card
Step One – Use Reward Points
Canceling a credit card means letting go of all unused reward points on your credit card, but some banks are lenient enough to convert these points into cash.
However, the Milestone bank doesn’t work this way, and this shows you how vital it is to not leave any money behind when canceling your milestone credit card. You must use up all credit card rewards when shopping, but you should avoid splurging.
Step Two – Transfer Automatic Payments
You might have another debit and credit card as an alternative instead of relying on your Milestone card alone, and this is why transferring automatic payments to another card is very important before going ahead to cancel a milestone card.
Taking a look at your credit card statement is the best way to find out all about your automatic payments, and it will be wise to check records starting from a year ago.
Step Three – Pay All Balances
Before canceling the card, the right thing for you is to pay off all your balance on the card. It involves making any payment due at the end of the month because that is the only way your account can be closed before canceling your Milestone card.
Your debt will keep showing up on your report if you fail to pay off your balance before canceling your Milestone card.
Step Four – Inform Authorized Users
If your card account has authorized users on it, it is proper for you to inform these users about your desire to cancel the Milestone card. Doing this is important because any user that tries making use of the card when it gets canceled will get a declined transaction.
Surprisingly, the card will get reactivated when a user tries making use of the card. It will bring about the reactivation of unnecessary fees.
On the other hand, you should find out if the users have an issue with a merchant or expect a refund.
Step Five – Contact Milestone And Cancel The Card
Calling the Milestone customer service and canceling the card is an excellent step to take, and this line stays open from 6 AM to 6 PM.
The only thing you are required to do is explain why you no longer need the card and ensure the customer representative sends you a written confirmation regarding your request. Then, when you are done with canceling your Milestone card, all you have to do is cut up and dispose of the card.
Now that you know the right ways involved in canceling a milestone card with the help of this post, you will no longer find the steps challenging or stressful.