How Do I Cancel My TD Ameritrade Credit Card?
If you have an account with TD Ameritrade, you have the choice of getting a credit card from the company. There are certain things you should know before cancelling your card. You can cancel your card online or by contacting customer service directly. Calling them is the best, quickest way to cancel your card.
How Do I Cancel My TD Ameritrade Credit Card?
If you are a member of the online investment and trading platform TD Ameritrade, you have access to many financial instruments. If you have an account, you may also have the opportunity to get a credit card from the company.
There are a few things you should know about the TD Ameritrade credit card. One is that you must live in certain states to apply and get the card.
The credit card also has a cash back program that rewards users of the card. You will earn back 3% when you eat out and 2% when you use the card at a grocery store. For any other purchases, you will get 1% cashback.
On the other hand, you must redeem at least 2500 points for you to activate the cash back option.
Cancelling Your Card
Once you finish paying off the outstanding balance on your TD credit card and also stop any recurring payments, you can cancel your card.
There are certain things you should expect when you decide to cancel your TD Ameritrade credit card. The first is that you will have to contact the company directly in order to do so.
When you contact TD Ameritrade, the bank's representative will do everything in their power to persuade you not to cancel your card. They will offer you incredible rewards and incentives to try and keep the card active. Chances are that they will redirect you the company's customer retention division who are even more convincing.
Therefore, you need to ensure that you are certain about your decision to cancel the card. Otherwise, you will fall prey to the tactics of these convincing representatives.
You should be prepared to say no several times before you are actually allowed to cancel the card. You should be ready with a list of reasons to cancel your account so if one fails you can use another.
The cancelling of your credit card might also have an impact on your credit score. The reason is that credit bureaus will look for how much credit you have available compared to how much you are using. This is known as your credit utilization ratio.
The lower the credit utilization ratio, the higher the credit you can access. A ratio of 30% or lower is a considered good.
There are several ways through which you can cancel your TD Ameritrade credit card. The first way is to do it online using the following process:
- Launch your web browser and log into your TD Ameritrade online account.
- Click "Message Center" to the left of your screen.
- Select "Send a secure message."
- Send a message to TD Ameritrade customer service. Tell them that you want to cancel your credit card and include details of the card.
They will respond to your message or contact you to try and convince you otherwise.
The other ways to cancel your TD Ameritrade credit card involve contacting customer service directly. The best way by far for you to cancel your TD Ameritrade credit card is to call them.
A phone call is effective because you can ensure that the customer service representative cancels your card while on the phone. You should remember that they will try to convince you otherwise. You can find the TD Ameritrade customer service number here.
You can also send the TD Ameritrade customer service an email or use their online help desk to contact them.
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