The Close Credit Card Letter is an essential document used in the Philippine banking system when a cardholder wishes to formally terminate their credit card account. This document is required by Philippine banking regulations and must comply with guidelines set by the Bangko Sentral ng Pilipinas (BSP) and the Credit Card Act. The letter should be used when a cardholder has decided to permanently close their credit card account, whether due to personal choice, financial management, or other reasons. It contains crucial information including the cardholder's personal details, credit card information, explicit closure request, and declarations regarding account status. The document serves as both a formal request and a legal record of the cardholder's intention to terminate the credit card agreement, protecting both the cardholder and the bank in the closure process.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Sender's Information: Full name, address, contact details, and any customer reference numbers of the cardholder
2. Date: Current date of writing the letter
3. Recipient's Information: Bank's name, department (usually Card Services), and complete address
4. Subject Line: Clear indication that this is a credit card closure request
5. Credit Card Details: Specific information about the credit card(s) to be closed, including card number(s) (last 4 digits only for security)
6. Closure Request Statement: Clear and direct statement requesting the closure of the credit card account
7. Account Status Declaration: Statement confirming that all outstanding balances have been paid or will be paid
8. Instructions for Final Bill: Request for final statement and payment instructions if any remaining balance exists
9. Signature: Physical signature of the cardholder
1. Reason for Closure: Optional explanation for closing the credit card account - include if required by bank policy or if beneficial for maintaining good banking relationships
2. Alternative Contact Information: Include if current contact details differ from those registered with the bank
3. Request for Confirmation: Request for written confirmation of account closure - include if you want documented proof of closure
4. Points/Rewards Redemption: Instructions regarding any remaining reward points or miles - include if applicable
5. Authorization for Representative: Include if someone else will be submitting the letter on behalf of the cardholder
1. Copy of Credit Card: Photocopy of the credit card (front and back) with sensitive information concealed
2. Valid ID: Copy of government-issued ID for verification purposes
3. Latest Statement: Copy of the most recent credit card statement for reference
4. Payment Proof: Copies of recent payment receipts if claiming zero balance
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Consumer Finance
Retail Banking
Credit Services
Consumer Services
Financial Technology
Payment Services
Relevant Teams
Credit Operations
Customer Service
Compliance
Risk Management
Account Management
Card Services
Banking Operations
Client Relations
Document Processing
Legal
Relevant Roles
Bank Branch Manager
Credit Card Services Officer
Customer Service Representative
Financial Advisor
Banking Operations Manager
Compliance Officer
Risk Management Officer
Account Manager
Personal Banking Officer
Client Relations Manager
Find the exact document you need
SBLC Letter Of Credit
A Philippine-law governed Standby Letter of Credit that serves as a bank-issued payment guarantee, subject to Philippine banking regulations and international standards.
find out more
Credit Limit Increase Request Letter
A formal letter requesting a credit card limit increase in the Philippines, complying with local banking regulations and including essential financial information for assessment.
find out more
Revocable Lc
A Philippine-governed banking instrument providing a revocable payment guarantee in international trade, subject to Philippine banking regulations and UCP 600.
find out more
Letter Of Credit For Services
A Philippine-compliant banking instrument guaranteeing payment for services upon completion and documentation, regulated by BSP and following UCP 600 guidelines.
find out more
Lc Facility
A Philippine law-governed agreement establishing terms for a bank to issue letters of credit, detailing facility limits, procedures, and party obligations.
find out more
Letter Of Credit Limit
A Philippine-law governed agreement establishing a revolving facility for issuing Letters of Credit up to an approved limit, setting out terms, conditions, and security requirements.
find out more
SBLC As Collateral
Philippine law-governed agreement for using a Standby Letter of Credit as collateral security, compliant with BSP regulations and international banking practices.
find out more
Irrevocable Unconfirmed Letter Of Credit
A Philippine law-governed irrevocable letter of credit document that represents a bank's unchangeable commitment to pay against compliant document presentation.
find out more
Lc Confirming Bank
A Philippine law-governed agreement establishing terms and conditions for a bank's confirmation of a letter of credit, detailing confirmation obligations and risk allocation.
find out more
Irrevocable Documentary Letter Of Credit
A Philippine law-governed irrevocable payment commitment from a bank to a beneficiary, subject to document compliance and UCP 600 rules.
find out more
Marginal Deposit On Letter Of Credit
A Philippine-law governed agreement establishing terms for a marginal deposit as security for a letter of credit facility.
find out more
Lease SBLC
A Philippine law-governed agreement for leasing a Standby Letter of Credit, establishing terms between SBLC provider and lessee while ensuring compliance with local banking regulations.
find out more
Direct Pay Letter Of Credit
A Philippine-law governed banking instrument that provides an irrevocable commitment for direct payment upon presentation of complying documents.
find out more
Personal Letter Of Credit
A bank-issued financial instrument under Philippine banking laws that guarantees payment to a beneficiary upon meeting specified conditions.
find out more
Lc Agreement
A Philippine-law governed agreement establishing terms for issuing and managing a Letter of Credit, compliant with local banking regulations and international practices.
find out more
Letter Of Credit Collection
A Philippine-compliant banking document that facilitates secure payment collection in international trade transactions through standardized banking procedures.
find out more
Lc Issuance
A Philippine-compliant Letter of Credit Issuance document that guarantees payment in international trade transactions, subject to Philippine banking laws and UCP 600 guidelines.
find out more
SBLC DLC
A Philippine-law governed banking instrument providing payment guarantee in international trade, compliant with local banking regulations and international conventions.
find out more
Collateral For Letter Of Credit
A Philippine law-governed agreement establishing security arrangements for a letter of credit facility, detailing collateral provisions and enforcement rights.
find out more
Cash Backed SBLC
A Philippine law-governed agreement establishing terms for a cash-backed Standby Letter of Credit, including collateral requirements and party obligations.
find out more
SBLC Transferable
A transferable Standby Letter of Credit governed by Philippine law, allowing the beneficiary to transfer their rights to receive payment under specified conditions.
find out more
SBLC Non Recourse Loan
A Philippine law-governed agreement for a non-recourse loan facility secured by a Standby Letter of Credit, detailing loan terms and SBLC enforcement mechanisms.
find out more
Loan Against Lc
Philippine law-governed agreement for loan facility secured against a Letter of Credit, detailing lending terms and security arrangements under local banking regulations.
find out more
Letter Of Credit Risk
A Philippine-jurisdiction risk assessment document for letter of credit transactions, complying with BSP regulations and international banking standards.
find out more
Letter Of Credit Fraud
A legal document for reporting and addressing Letter of Credit fraud under Philippine law, structured to meet both domestic legal requirements and international banking standards.
find out more
Letter Of Credit Fee
Philippine-compliant Letter of Credit fee agreement detailing banking charges and payment terms under BSP regulations.
find out more
Letter Of Credit Duration
A Philippine-law governed document specifying the duration terms and validity period of a Letter of Credit, combining local banking regulations with international trade practices.
find out more
Guarantee Letter Of Credit
A bank-issued financial guarantee instrument under Philippine law that provides payment assurance to beneficiaries upon fulfillment of specified conditions.
find out more
SBLC At Sight
A Philippine-law governed standby letter of credit providing immediate payment upon document presentation, combining local banking regulations with international standards.
find out more
Usance Lc Discounting
A Philippine law-governed agreement for discounting usance letters of credit, enabling exporters to obtain immediate financing against future LC payments.
find out more
Revolving SBLC
Philippine law-governed Revolving Standby Letter of Credit agreement establishing a renewable credit facility with automatic reinstatement provisions.
find out more
Payment Against Lc
A Philippine law-governed agreement establishing terms and conditions for Letter of Credit payment arrangements in international trade transactions.
find out more
Non Transferable SBLC
A Philippine law-governed Non-Transferable Standby Letter of Credit providing payment security, subject to BSP regulations and banking practices.
find out more
Non Operative SBLC
A Philippine-law governed Non-Operative Standby Letter of Credit that serves as a contingent banking guarantee, remaining inactive until specific activation conditions are met.
find out more
Credit Card Clearance Letter
An official document issued under Philippine banking regulations that confirms full settlement of credit card debt and account closure.
find out more
Transferable Lc At Sight
A Philippine-compliant banking instrument that provides for immediate payment upon document presentation, with the ability to transfer rights to other beneficiaries.
find out more
Straight Letter Of Credit
A Philippine-compliant banking instrument that provides payment security in international trade through an irrevocable undertaking by a bank to pay against compliant documents.
find out more
Small Business Letter Of Credit
A Philippine law-governed Letter of Credit document tailored for small businesses, providing payment security in international trade transactions while complying with BSP regulations and UCP 600.
find out more
Local Letter Of Credit
A Philippine bank-issued payment guarantee instrument for domestic trade transactions, governed by local banking regulations and BSP guidelines.
find out more
Letter Of Credit 30 Days
A Philippine-compliant banking instrument guaranteeing payment within 30 days of document presentation, commonly used in international trade transactions.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)