So, I come back from vacation to a mountain of mail. Sorting through the past month's collection of bills, junk mail and catalogs I get a letter from Bank of America that inclues five pages of revised terms and conditions for my Master Card. Buried on page 2 is the description of Default Pricing which says: The document goes on to describe the default rate (32.24% at the time this agreement was printed) and how you can write a letter to decline this provision. So, here I am with 5 pages of contract amendments wondering, "Uhhh, what's the catch?" I just write a letter and say "no thanks" and that's it or does this put me on some "get 'em later" list? Well, I wanted to pay this one off and close it so I don't have anything to lose either way, but it pays to read the fine print (I hope).
You write he "no thanks" letter and they will close it for you. Better the CRA's notate that YOU closed the account than them.
I congratulate you on being one of those who reads all the fine print! Most likely if you "reject", they will offer the "options" for closing the account.
