Cancel your card by calling the issuer's customer service number, confirming you want to close the account, and asking them to note that you initiated the cancellation
The issuer — the bank or financial company that issued your card — is the only one who can cancel it. You cannot cancel through the merchant network (Visa, Mastercard, American Express) or through a third party. Call the number on the back of your card or on your billing statement. Have your card number ready. Tell the representative you want to close the account, and ask them to document that you requested the cancellation. This protects you if a fraudulent charge appears after closure.
The call takes five to ten minutes. The representative may ask why you are canceling or offer you a lower interest rate to stay. You are not obligated to explain or accept. After you hang up, the account is closed, though it may take a few days for the closure to show in your credit report. You can still make payments on any remaining balance.
Key Takeaways
- Call the customer service number on your card or statement and tell the representative you want to close the account.
- Ask the representative to note in your account that you requested the cancellation, not that the issuer closed it.
- 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.
- Pay off any remaining balance before or after closing — the account stays open for payments even after closure.
- Closing a card does not remove it from your credit report; it stays visible for seven years as a closed account in good standing.
What happens to your credit score when you close a card
Your credit score may drop when you close a card because one factor in your score is your credit utilization ratio — the amount of credit you are using divided by the total credit available to you. If you close a card with a high credit limit, your available credit shrinks, which can raise your utilization ratio even if you do not change how much you spend.
For example: if you have two cards with $5,000 limits each (total available: $10,000) and you carry a $2,000 balance, your utilization is 20 percent. If you close one card, your available credit drops to $5,000, and your utilization jumps to 40 percent — even though you still owe $2,000. A higher utilization ratio can lower your score by 10 to 50 points, depending on how much your ratio changed and how much weight your credit scoring model gives to utilization.
The impact is usually temporary. Most people see their score recover within three to six months as the closed account ages and other factors in their credit history stabilize. The closed card itself remains on your credit report for seven years, listed as a closed account, which does not harm your score.
Pay off your balance before you cancel
You do not have to pay off your balance before closing the account — you can close first and pay later. However, paying off the balance before you call makes the process simpler and removes one variable from your credit score calculation.
If you have a balance when you close, the account stays open for payment purposes. You can mail a check, pay online, or call to make a payment. The issuer will continue to report the account to the credit bureaus as open until the balance reaches zero, then report it as closed. Closing with a balance does not hurt your score more than closing with a zero balance, but it does mean the account remains active in your credit report longer.
What to do if you have an annual fee
If your card has an annual fee and you are within 30 days of the anniversary date, call before the fee posts. Tell the representative you want to close the account and ask if they will waive the upcoming annual fee as a courtesy. Some issuers will; others will not. If they refuse and the fee posts anyway, you can call back and ask for a refund, though this is not may provide.
If you are past the anniversary date and the fee has already posted, you can still ask for a refund when you call to close. Frame it as: "I am closing the account. Can you refund the annual fee I was just charged?" Some issuers refund one annual fee as a courtesy when you close; others do not. Asking costs nothing.
Canceling a card with a rewards balance or pending points
Check your rewards balance before you close. Most issuers let you redeem points or cash-back rewards after the account is closed, but the window to do so varies — some allow redemption for up to a year after closure, others for only 90 days. Redeem your rewards before you call to close, or confirm the redemption important date with the representative when you call.
If you have a sign-up bonus that you have not yet earned (for example, you opened the card three months ago and the bonus requires six months of spending), closing the account before you meet the requirement forfeits the bonus. The issuer will not credit it retroactively.
Canceling a card you no longer have or a lost card
If you lost the card or no longer have it, you can still cancel by calling the issuer. You do not need the physical card to close the account. Have your name, address, and date of birth ready so the representative can verify your identity. If you lost the card, tell the representative so they can flag the account for fraud monitoring.
If you suspect the card was stolen or used fraudulently, report it to the issuer before or during the cancellation call. The issuer will cancel the card when ready and investigate any unauthorized charges. You are not responsible for fraudulent charges on a credit card, but reporting them quickly protects you and speeds up the investigation.
After you cancel: what to expect
The closure takes effect when ready when you hang up, though it may take one to three business days to show in your online account. Your credit report updates within 30 to 45 days. During this window, the card may still appear as open in some places, but the issuer's records show it as closed.
If you have automatic payments set up on this card (for utilities, subscriptions, insurance), those payments will fail after closure. Update those merchants with a different payment method before you close, or do so within a few days after. Missed payments can hurt your credit score and result in late fees or service interruptions.
Keep your final statement for your records. It shows the account closure date and your final balance. If you are paying off the balance after closure, you may receive one or two more statements as the balance decreases.
Frequently Asked Questions
Will closing a credit card hurt my credit score?
Your score may drop temporarily because closing a card reduces your available credit, which can raise your credit utilization ratio. The impact is usually 10 to 50 points and fades within three to six months. The closed card remains on your credit report for seven years, but as a closed account it does not continue to harm your score.
Can I reopen a card after I close it?
It depends on the issuer. Some issuers will reopen a recently closed account if you call within 30 to 60 days. Others treat a closure as permanent. If you think you might want the card again, ask the representative before you close whether the account can be reopened and within what timeframe.
What if the issuer refuses to close my account?
This is rare, but if it happens, ask to speak to a supervisor. Issuers are required to close accounts when you request it. If a representative refuses, escalate the call or file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov.
Do I need to cut up the card after I close it?
Cutting up the card is a good practice to prevent accidental use, but it is not required. The account is closed whether the card is destroyed or not. If you want to keep the card for your records, you can, though most people discard it.
Can someone else close my credit card account?
No. Only the account holder can request closure. If you have an authorized user on the account, they cannot close it. If someone else closes your account without permission, that is fraud — report it to the issuer and the CFPB when ready.