How to cancel a credit card
Call your credit card issuer's customer service number — it's on the back of your card or on your monthly statement. Tell them you want to close the account. They will ask why, confirm your identity, and process the cancellation. The call takes about five minutes. After you hang up, send a follow-up email or letter asking for written confirmation that the account is closed, and keep that confirmation in your records.
Do not cut up the card or throw it away until you have that written confirmation. Issuers sometimes fail to close accounts on the first call, and you need proof of your request if a closed account later appears on your credit report or gets charged a fee.
Key Takeaways
- Call the customer service number on your card and state clearly that you want to close the account; the process takes about five minutes.
- Pay off any remaining balance before you call, because closing an account with a balance does not erase what you owe.
- Request written confirmation of the closure by email or mail, and save it in case the account reappears on your credit report later.
- Closing a card can lower your credit score temporarily because it reduces your total available credit, but the effect usually fades within a few months.
- If you have rewards points or cash back pending, use or redeem them before you call, because most issuers cancel those when the account closes.
Pay off your balance first
If you have an outstanding balance, the card issuer will not close the account until you pay it. Even if they agree to close it over the phone, the account will remain open in their system until the balance reaches zero.
Make a payment online through your card's portal, by phone, or by mail. Wait for that payment to post — usually one to three business days — before you call to cancel. If you have a large balance, you can set up a payment plan with the issuer before closing, though you will still need to make those payments after the account is closed.
Redeem rewards and cash back before closing
Most issuers cancel pending rewards, points, and cash back when you close an account. Log into your card's online portal and check your rewards balance. Redeem any points for cash, statement credits, or merchandise before you call to cancel.
If you have cash back that has not yet posted to your account, contact customer service and ask when it will arrive. Some issuers post cash back monthly or quarterly. You may need to wait for that posting before you close the account, or you may lose it.
What happens to your credit score
Closing a credit card usually lowers your credit score by a small amount in the short term. This happens because closing the account reduces your total available credit, which changes your credit utilization ratio — the amount you owe divided by the amount you can borrow. A lower available credit limit makes your utilization ratio higher, and higher utilization hurts your score.
The effect is usually temporary. Your score typically recovers within a few months as the closed account ages and other activity on your credit report takes more weight. If you have other cards with low balances, closing one card has less impact than if you only have one or two cards total.
Request written confirmation
After the call, send an email or letter to the address on your statement asking for written confirmation that your account has been closed. Include your account number, the date you called, and the name of the representative you spoke with if you wrote it down. Keep a copy of what you send.
The issuer should respond within one to two weeks with a letter stating the account is closed and the balance is zero. File this letter with your financial records. If the account later appears on your credit report as open or active, you have proof that you requested closure and can dispute it with the credit bureau.
Check your credit report after closing
Pull your credit report from all three bureaus — Equifax, Experian, and TransUnion — about 30 days after you close the account. You can get a free report from annualcreditreport.com, which is the official government site. The closed account should show a status of "closed by consumer" or "closed at consumer's request."
If the account still shows as open or active after 30 days, contact the credit bureau in writing and include a copy of your written confirmation from the issuer. The bureau has 30 days to investigate and correct the error. If the issuer charged you a fee after you closed the account, contact them when ready with your confirmation letter and ask them to reverse the charge.
Cancelling a card you no longer have
If you lost the card or never received it, you can still cancel the account by calling customer service. Have your Social Security number and date of birth ready for identity verification. The process is the same: pay any balance, redeem rewards, and request written confirmation.
If someone else is using the card without your permission, call when ready to report fraud. The issuer will freeze the account right away and may issue you a new card or close the account entirely. Ask them to send you written confirmation of the fraud report and the account closure.
Frequently Asked Questions
Will cancelling hurt my credit score?
Yes, but usually only slightly and temporarily. Your score may drop by 5 to 10 points in the short term because closing the account reduces your available credit. The effect fades within a few months as other activity on your report becomes more recent. If you have multiple cards, the impact is smaller than if you only have one or two.
What if the issuer refuses to close my account?
They cannot refuse. You have the right to close any account you own. If a representative says no, ask to speak with a supervisor. If they still refuse, send a certified letter to the address on your statement requesting closure, and follow up with a call one week later. Keep copies of everything you send.
Can I reopen a closed account?
Some issuers will reopen a recently closed account if you call within a few days or weeks. Others treat a closed account as final. Call customer service and ask. If they say no, you can always open a new account with the same issuer, though you will go through a new process and credit check.
Do I have to pay an annual fee before I close?
No. If your card has an annual fee and you are cancelling to avoid paying it, you can close the account without paying. However, if you have already been charged the fee for the current year, the issuer will not refund it. Call before the fee posts if you want to avoid it entirely.
What happens to my rewards if I close the account?
Most issuers cancel unredeemed rewards when you close the account. Redeem all points, miles, or cash back before you call to cancel. Check your account balance online and convert rewards to statement credits or cash if possible. If you have pending cash back that has not posted yet, ask the issuer when it will arrive before you close.