Close Credit Card Letter Template for Philippines

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Close Credit Card Letter

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Close Credit Card Letter

"I need a Credit Card Closure Letter for my BankAsia Platinum card that specifies immediate termination due to relocation abroad, including instructions for handling remaining reward points and requesting written confirmation of closure by March 2025."

Document background
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.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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

Installment Letter Of Credit

A Philippine law-governed Installment Letter of Credit document establishing terms for structured payment arrangements in international trade transactions.

find out more

Domestic Letter Of Credit

A Philippine-law governed banking instrument that guarantees payment in domestic trade transactions, issued by a local bank to facilitate secure trading within the Philippines.

find out more

Discrepancy Letter Of Credit

A Philippine-compliant banking document that formally communicates discrepancies found in Letter of Credit documentation and outlines required remedial actions.

find out more

Beneficiary In Letter Of Credit

A formal document under Philippine jurisdiction that establishes a beneficiary's rights and obligations in a Letter of Credit transaction, governed by local banking laws and UCP 600.

find out more

Unrestricted Letter Of Credit

A Philippine-compliant banking instrument that provides an irrevocable payment guarantee in international trade, freely negotiable with any bank.

find out more

Trade Finance Letter Of Credit

A Philippine law-governed Letter of Credit document that provides bank-guaranteed payment security in international trade transactions, subject to UCP 600 and local banking regulations.

find out more

Unconditional Letter Of Credit

A Philippine law-governed banking instrument that provides an irrevocable and unconditional payment guarantee to a beneficiary upon simple demand, without requiring additional documentation.

find out more

Transit Letter Of Credit

A Philippine-law governed banking instrument that provides payment security for international trade transactions involving goods in transit, subject to specified documentation and conditions.

find out more

Syndicated Letter Of Credit

A Philippine law-governed agreement establishing a syndicated Letter of Credit facility, detailing multi-bank participation and LC operations in compliance with local banking regulations and international practices.

find out more

Surety Backed Letter Of Credit

A Philippine law-governed financial instrument combining a Letter of Credit with surety protection, providing enhanced security for complex commercial transactions.

find out more

Structured Letter Of Credit

A Philippine law-governed banking instrument combining traditional letter of credit features with structured finance elements, used for complex international trade transactions.

find out more

Revolving Letter Of Credit

A Philippine law-governed banking agreement establishing terms for automatically renewable letters of credit facility, subject to BSP regulations and UCP 600.

find out more

Reverse Letter Of Credit

A Philippine law-governed banking instrument where the buyer provides security to the bank for payment to the seller, regulated under local banking laws and international standards.

find out more

Restricted Letter Of Credit

A Philippine-compliant banking instrument that provides a restricted payment guarantee in international trade, subject to specific conditions and transfer limitations under Philippine banking laws.

find out more

SBLC Lease Agreement

A Philippine-law governed agreement establishing terms for leasing a Standby Letter of Credit, detailing financial obligations and regulatory compliance requirements.

find out more

Outstanding Letter Of Credit

A Philippine law-governed bank guarantee document ensuring secure payment in international trade transactions, subject to document compliance and UCP 600 rules.

find out more

Operative Letter Of Credit

A Philippine-compliant banking instrument that provides an irrevocable payment commitment in international trade transactions, governed by local banking laws and UCP 600.

find out more

Non Negotiable Letter Of Credit

A banking instrument under Philippine law that provides secure payment in international trade, exclusively payable to the named beneficiary.

find out more

Letter Of Credit Negotiable Instrument

A Philippine-law governed banking instrument that guarantees payment in international trade while serving as a negotiable document under local banking regulations and UCP 600.

find out more

Letter Of Credit Loc

A Philippine-compliant Letter of Credit that guarantees payment in international trade transactions, subject to Philippine banking laws and UCP 600 guidelines.

find out more

Letter Of Credit Balance Sheet

A Philippine-compliant financial document that records and tracks the current status, transactions, and obligations of a Letter of Credit under Philippine banking regulations.

find out more

Letter Of Credit Amendment

A formal modification to an existing Letter of Credit under Philippine banking laws, allowing changes to original LC terms while maintaining compliance with local and international banking standards.

find out more

International Letter Of Credit

A bank-issued payment guarantee document under Philippine law and UCP 600, securing international trade transactions between importers and exporters.

find out more

Fixed Letter Of Credit

A banking instrument issued under Philippine law that provides an irrevocable commitment to pay a fixed amount upon presentation of compliant documents in international trade transactions.

find out more

Divisible Letter Of Credit

A Philippine-compliant banking instrument that enables partial drawings against a total credit amount, governed by local banking laws and UCP 600.

find out more

Credit Card Welcome Letter

A regulated welcome letter for new credit card holders in the Philippines, containing mandatory disclosures and card information as required by Philippine banking laws.

find out more

Credit Card Request Letter

A formal letter requesting credit card issuance from a bank in the Philippines, complying with local banking regulations and credit card laws.

find out more

Credit Note Letter

A formal business document used in the Philippines to record and communicate a reduction in a previously invoiced amount, complying with BIR regulations.

find out more

Credit Extension Letter

A formal Philippine banking document that outlines the terms and conditions of credit extension to a borrower, complying with local banking regulations and BSP guidelines.

find out more

Credit Approval Letter

A formal document issued by Philippine financial institutions confirming credit facility approval and outlining key terms and conditions under local banking regulations.

find out more

Conditional Letter Of Credit

A Philippine-law governed banking instrument that provides conditional payment guarantees in commercial transactions, subject to specific documentation and requirements under local and international banking standards.

find out more

Commercial Letter Of Credit

A bank-issued payment guarantee document under Philippine law that facilitates secure international trade transactions through documented commitment to pay.

find out more

Cancellation Of Letter Of Credit

A formal document under Philippine law used to terminate an existing letter of credit before its expiry date, following BSP regulations and UCP 600 guidelines.

find out more

Bond Letter Of Credit

A Philippine-law governed bank guarantee instrument that provides financial security for bond obligations, issued under Philippine banking regulations and BSP oversight.

find out more

Beneficiary Certificate Letter Of Credit

A formal certification document used in Philippine trade finance where the beneficiary confirms compliance with Letter of Credit terms and requests payment, governed by Philippine banking laws and UCP 600.

find out more

Bank Facilities Letter

A formal document issued by a Philippine bank outlining the terms and conditions of financial facilities offered to a borrower, governed by Philippine banking laws and BSP regulations.

find out more

Advised Letter Of Credit

A Philippine-compliant banking document where an advising bank notifies and authenticates a Letter of Credit to a beneficiary for international trade transactions.

find out more

Usance Letter Of Credit

A Philippine-compliant banking instrument providing deferred payment commitment for international trade transactions, governed by local banking laws and UCP 600.

find out more

Irrevocable At Sight Letter Of Credit

A Philippine law-governed irrevocable bank payment guarantee that ensures immediate payment upon presentation of compliant trade documents, following UCP 600 and local banking regulations.

find out more

Import Lc

A Philippine-compliant banking instrument that guarantees payment for international imports, governed by BSP regulations and international banking practices.

find out more

Credit Rejection Letter

A formal notification used in the Philippine banking sector to inform applicants about credit application rejection, compliant with local banking and consumer protection laws.

find out more

Letter For Credit Terms

A formal document used in the Philippines that establishes credit terms between parties, compliant with Philippine banking and commercial regulations.

find out more

Irrevocable Letter Of Authority

A Philippine legal document that grants irrevocable authority from a grantor to an attorney-in-fact, commonly used in business and personal transactions under Philippine law.

find out more

Bank Payment Guarantee Letter

A Philippine law-governed bank document providing payment assurance to a beneficiary in case of default by the applicant, issued under local banking regulations.

find out more

Letter Of Credit Transferable

A Philippine-compliant banking document that enables the transfer of rights under a letter of credit from the first beneficiary to a second beneficiary, subject to BSP regulations and UCP 600.

find out more

Import And Export Letter Of Credit

A Philippine-compliant banking instrument that guarantees payment in international trade transactions, subject to specified document presentation and conditions.

find out more

Lc Without Recourse

A Philippine-governed Letter of Credit Without Recourse that provides secure payment in international trade while protecting the beneficiary from recourse claims.

find out more

Credit Application Letter

A formal document used in the Philippines for requesting credit facilities from financial institutions, complying with local banking regulations and requirements.

find out more

Lc Bank Guarantee

A Philippine-law governed bank guarantee instrument combining features of letters of credit and bank guarantees, issued by banks to secure commercial transactions.

find out more

Deferred Lc

A Philippine law-governed trade finance agreement establishing terms for deferred payment under a Letter of Credit, combining local banking regulations with international standards.

find out more

Authorization Letter For ATM Card Collection

A Philippine-compliant formal letter authorizing a designated person to collect an ATM card on behalf of the account holder.

find out more

Documentary Letter Of Credit

A bank-issued payment guarantee document under Philippine law that facilitates secure international trade transactions through specified documentary requirements.

find out more

Construction Letter Of Credit

A bank-issued Construction Letter of Credit template compliant with Philippine banking and construction laws, securing payment obligations in construction projects.

find out more

Acceptance Lc

A Philippine-compliant financial instrument where a bank commits to accept and pay time drafts at maturity, facilitating deferred payment in international trade.

find out more

Lc Revocable

A Philippine-law governed revocable Letter of Credit that serves as a conditional payment guarantee in international trade, subject to modification or cancellation by the issuing bank.

find out more

Lc Non Transferable

A Philippine law-governed non-transferable Letter of Credit document that provides secure payment commitment in international trade while preventing transfer of drawing rights.

find out more

Import Letter Of Credit

A Philippine-compliant banking instrument that guarantees payment to an overseas seller on behalf of a Philippine importer, subject to specified terms and conditions.

find out more

Close Credit Card Letter

A formal request letter used in the Philippines to terminate a credit card account, complying with BSP regulations and the Credit Card Act.

find out more

Discounting Letter Of Credit

A Philippine-law governed document establishing terms for early payment of a Letter of Credit at a discount, compliant with BSP regulations.

find out more

Performance Letter Of Credit

A Philippine-law governed bank guarantee that ensures payment if a contracting party fails to perform their contractual obligations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’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; Genie’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

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.