Morgan Stanley offers two types of credit cards that you can use to purchase goods and services. You can earn rewards on your Morgan Stanley credit card that you can redeem later or invest in Morgan Stanley. Some circumstances, however, may make you cancel your Morgan Stanley credit card, like divorce or avoiding the temptation to overspend. In case you want to cancel your Morgan Stanley credit card, you can follow the guidelines given in this article.
How Do I Cancel My Morgan Stanley Credit Card?
Morgan Stanley offers two types of credit cards: the Morgan Stanley Credit Card from American Express and the Platinum Card which is exclusive for Morgan Stanley. These credit cards enable you to purchase goods and services even when you do not have cash on-hand.
Another advantage of the Morgan Stanley credit card is that you have the opportunity to earn up to 10,000 membership rewards points. The great thing about the rewards that you earn is that you can invest them with Morgan Stanley. When you spend the credit card on a variety of spending categories, you can earn two times the points that you could have accumulated on normal spending.
There is no annual fee on the Morgan Stanley credit card. However, to get these benefits you must have a Morgan Stanley brokerage account, and terms and conditions apply.
In some circumstances, you may need to cancel your Morgan Stanley credit card, like a divorce, or to avoid the temptation to overspend.
The process of canceling your Morgan Stanley credit card is explained below.
How to Cancel Your Morgan Stanley Credit Card
If you want to cancel your Morgan Stanley credit card, you can follow the steps given below or contact their customer support team for more guidance. Here is how you go about canceling your Credit Card with Morgan Stanley:
1. Redeem Your Rewards
To avoid losing the rewards that you've earned with your Morgan Stanley account, it's advisable to redeem them before canceling your Morgan Stanley credit card. You also have an option to pay off the remaining balance on your credit card before canceling it.
2. Contact the Morgan Stanley Customer Service Team
The best way to get help canceling your credit card is by contacting Morgan Stanley's customer service team. Once you call Morgan Stanley, explain to them that you wish to cancel your credit card and tell them to indicate that you requested your account to be canceled, and that it was not closed because you failed to pay off the card. The representative may try to persuade you not to cancel the card, but the final decision lies in your hands.
Ensure that you note the name of the Morgan Stanley representative that you spoke to and the time and day when you made the request.
You can also reach Morgan Stanley by live chatting with them or sending them an email. Morgan Stanley is also available on Facebook and Twitter, but these are not the recommended ways of asking for your credit card to be canceled. You can also send a credit card cancellation letter to Morgan Stanley.
3. Check your Credit Report
It may take up to a month for your credit report to reflect that you canceled your Morgan Stanley credit card. Once this happens, confirm that it indicates that the credit card was "closed at consumer's request" and not "closed by issuer."
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