How to cancel Dell Preferred Account?

[digitalduck]

Hi, I signed up for my Dell PA and used it to purchase my 2405 which is great, but dont see myself purchasing anything anytime soon from Dell where i would need my Dell card and just in terms of my credit history and such I was wondering how to not just cancel online, but be assured the card is cancelled as well? Has anyone else done this? Will an email do it, or is there a further link besides the link to remove the account on the dell financial account site?

Thanks

 

[NokiaDude]

Just leave it open. It'll show as availible credit which is a GOOD thing. You want you avail credit to debt ratio to be around 4:1

 

[Golgatha]

Actually, having lots of revolving credit not in use is bad for your credit rating. Not sure this is a topic for the video forum also. Anyway, I would just look at the address on the back of the credit card and send them a close my account letter. By law they have to respond within 30days and close the account. I normally hand write my name, date, and write a note that a photocopy has been made of the letter.

 

[LukFilm]

Originally posted by: NokiaDude
Just leave it open. It'll show as availible credit which is a GOOD thing. You want you avail credit to debt ratio to be around 4:1

 

[LukFilm]

Originally posted by: Golgatha
Actually, having lots of revolving credit not in use is bad for your credit rating. Not sure this is a topic for the video forum also. Anyway, I would just look at the address on the back of the credit card and send them a close my account letter. By law they have to respond within 30days and close the account. I normally hand write my name, date, and write a note that a photocopy has been made of the letter.

This is bullshiite. It's used to be that way, but not anymore. The more credit available you have, the better. I have 40 credit cards and my credit score kicks butt.

 

[nealh]

This is bullshiite. It's used to be that way, but not anymore. The more credit available you have, the better. I have 40 credit cards and my credit score kicks butt.

The only concern with this is some institutions will be leary lending money if your available unused credit is too high and your income could not support the use of 40 credit cards

what I mean is someone with 40 credit cards that each has a $1000 limit has the ability to spend $40000 but if they make $10000(this will be an issue)...this can affect obtaining a loan for a house etc...the numbers are used as illustration

I agree if you have a good credit rating and other CC etc...you do not need to keep this open

Credit score is not simply the fact you have credit but how you handle that credit, what the balances on the CC, payment histories for loans, mortgage, rent etc and your income

Personally I try to keep just a few CC..Visa, discover, amex...a few others...if you will not use close it out...

Dell will give a another in the future if needed

there is always risk of CC fraud etc

 

[Don66]

Originally posted by: digitalduck
Hi, I signed up for my Dell PA and used it to purchase my 2405 which is great, but dont see myself purchasing anything anytime soon from Dell where i would need my Dell card and just in terms of my credit history and such I was wondering how to not just cancel online, but be assured the card is cancelled as well? Has anyone else done this? Will an email do it, or is there a further link besides the link to remove the account on the dell financial account site?

Thanks

Just call D.F.S. and tell them to cancel your account.
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