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Canceling a credit card can be extremely tricky if you are not aware of the steps associated with it. It is a process that requires pre-planning and careful consideration of every little factor. But do not stress! We will break down every step for you!

Issues Associated with Cancellation:

Before diving into the intricacies of canceling a credit card, we must warn you that it is rarely advisable to cancel one unless you face certain circumstances. It can backfire in some ways.

The two ways in which cancellation of a credit card can do more harm than good are:

• Leftover perks that are unclaimed
• Loss of credit

However, do not worry! If you need to cancel a credit card, we will ensure that you are well guided before leaping, and do not face any loss in terms of the two factors mentioned above.

Let's discuss the reasons why a credit card should generally be canceled.

Reasons for Cancellation:

The best reason to cancel a credit card is if the fee you are being charged for is too high....