If you're parting ways with your beloved credit card, you should know that there's more to the process than simply snipping the card in two with a pair of scissors. You'll need to follow a few steps to cancel your card the right way.

"Easier said than done" is a quote that applies to many walks of life, particularly financial transactions. These days, it seems like nothing's easy to accomplish-from opening a checking account to getting a home mortgage.

You can now add canceling a credit card to the list. There are a few hoops you'll need to jump through, but if you take the following steps, you can maintain your credit score and avoid hassles down the line.

Balance due

Before you cancel your card, make sure that you've paid off your balance. If a credit card company catches wind that you've decided to cut the cord, they have the right to raise your interest rate. However, most companies aren't that selfish. Often, the opposite is true, and they'll do everything in their power to retain you. But just to be on the safe side, pay off the balance.

Zapping that remaining balance will also help you with money management. If you have a tendency to run up credit card debt, paying off this particular account will help you focus on eliminating your debt.

Call, mail, and copy

Contact the credit card company directly to order your cancellation. You need to cover yourself in multiple ways.

First, phone the company and speak to a customer service representative. Be sure to get the representative's name and phone number (the name of a supervisor wouldn't hurt either). Write down the date of the call, and ask for a cancellation number, if the company will issue one.

Follow up your phone call with a written letter informing the company that you're cancelling your account, and make a copy of the letter. Sending it via certified mail may be going overboard, but if it helps you sleep better at night, go the extra mile.

Test their retention offers

No one likes to lose a customer, particularly a credit card company. If you're cancelling a piece of plastic, you'll be made offers to entice you to stay. Listen to them carefully-you'll be surprised how far a company will bend over backwards to keep you as a customer. Don't be afraid to ask for the moon; they just might give it to you.

The final step in cancelling your credit card is to confirm that the account is removed from your credit report. After the card has been officially cancelled, request a free report from a credit bureau a month or two later. It should indicate that the account has been closed. If it does, you'll have proof that you've successfully cancelled your credit card. Now you can either enjoy your new card, or steer clear of plastic altogether.