Call your card issuer and request cancellation

The fastest way to cancel a credit card is to call the customer service number on the back of your card. Have your card number ready. Tell the representative you want to close the account. They will confirm your identity, answer any questions about why you're canceling, and process the closure on the call.

Some issuers allow you to cancel online through your account portal, but calling gives you a confirmation number and a record of the conversation. Write down the date, time, representative's name, and confirmation number. Ask the representative to note in your file that you requested the closure.

Before you call, pay off any remaining balance. Most issuers will not close an account with an outstanding balance, and if they do, you'll still owe the debt. Paying in full first also means you won't be charged interest while the account processes closure.

Key Takeaways

  • Call the customer service number on your card to request closure, have your card number ready, and ask for a confirmation number.
  • Pay off your full balance before canceling, because outstanding debt will remain on your credit report and you'll continue to owe it.
  • Closing a card reduces your available credit, which can raise your credit utilization ratio and lower your credit score temporarily.
  • Request written confirmation of the closure and check your credit report 30 to 60 days later to confirm the account shows as closed.
  • If you have rewards points or cash back pending, redeem them before closing the account, as some issuers void unused rewards after closure.

Understand how cancellation affects your credit score

Closing a credit card reduces the total credit available to you. If you have other cards with balances, your credit utilization ratio — the percentage of your available credit you're using — will go up. A higher utilization ratio typically lowers your credit score, sometimes by 10 to 50 points depending on how much credit you're using across your other cards.

The impact is usually temporary. Your score will recover as you pay down balances on your remaining cards. However, the closed account itself stays on your credit report for up to 10 years, and during that time it continues to show in your credit history. Lenders can see that you closed the account, which is not harmful on its own.

If the card you're canceling is your oldest account, closing it can lower the average age of your credit accounts, which may also lower your score slightly. This effect is also temporary and recovers over time as other accounts age.

Redeem rewards and points before closure

Check your account for any pending cash back, rewards points, or miles. Redeem them before you close the card. Some issuers will let you redeem after closure, but others void unused rewards once the account is closed. There is no standard rule across issuers, so treat any rewards as forfeited if you don't use them first.

If you have a large rewards balance, you may want to wait to close the card until after you've redeemed everything. Log into your account and check the rewards program terms, or ask the customer service representative during your cancellation call what happens to your rewards after the account closes.

Request written confirmation and monitor your credit report

After you hang up, send a follow-up letter to the card issuer's address (usually listed on your statement or website) requesting written confirmation that your account has been closed at your request. Include your account number, the date you called, and the confirmation number you received. Keep a copy for your records.

Check your credit report 30 to 60 days after closure to confirm the account shows as closed. You can view your credit report for free once per year at annualcreditreport.com, which is the official site run by the three major credit bureaus. Look for the account in question and verify it says "closed by consumer" or "closed at consumer's request" rather than "closed by creditor" or "charged off."

If the account does not appear closed after 60 days, contact the issuer again with your confirmation number. Errors in reporting are rare but do happen, and it's worth correcting them.

Decide whether to keep the card open instead

Before you cancel, consider whether keeping the card open with a zero balance might serve you better. An open account with no balance helps your credit utilization ratio and keeps your average account age higher. If the card has no annual fee, there is no cost to keeping it open.

If the card does have an annual fee and you don't use the card, cancellation makes sense. If the card has no annual fee but you're closing it because you don't like the issuer or the rewards program, you might use it once or twice per year instead — just enough to keep the account active — and avoid the credit score dip that comes with closure.

The exception is if you're closing the card because you're concerned about fraud or identity theft. In that case, close it when ready and monitor your credit report closely for any unauthorized accounts.

Handle store credit cards and secured cards differently

Store credit cards (like a Target or Macy's card) close the same way as regular cards: call the number on the back and request closure. However, store cards often have lower credit limits, so closing one may have a smaller impact on your utilization ratio than closing a major card would.

Secured credit cards — cards backed by a cash deposit — require an extra step. After you close the account, the issuer will return your deposit to the account you used to fund it. This can take 7 to 10 business days. Make sure your deposit has been returned before you close the associated bank account.

What to do if the issuer refuses to close your account

Issuers rarely refuse to close an account, but if one does, ask the representative why. Common reasons include an outstanding balance (which you should pay first) or a pending dispute or fraud claim. If there's a legitimate hold-up, ask how long it will take to resolve and when you can call back to close the account.

If the issuer continues to refuse without a clear reason, file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB handles complaints about credit card issuers and will investigate. You can also contact your state's attorney general's office, which has a consumer protection division.

Frequently Asked Questions

Will closing a credit card hurt my credit score?

Yes, but usually temporarily. Your score may drop 10 to 50 points because your available credit decreases and your utilization ratio goes up. The impact is smaller if you have other cards with low balances. Your score typically recovers within a few months as you pay down other balances.

Should I close old cards or new cards first?

If you must close a card, close a newer one rather than your oldest. Closing your oldest account lowers the average age of your accounts, which can hurt your score more. Newer cards have less impact on your credit history.

Can I cancel a card with a balance?

Most issuers will not close an account with an outstanding balance. Pay off the full balance first. If you close an account with a balance, you still owe the debt, and it will remain on your credit report.

What happens to my rewards points after I close the card?

Policies vary by issuer. Some let you redeem rewards after closure; others void them. Redeem all rewards before you close the account to be safe. Check your card's rewards program terms or ask the representative during your cancellation call.

How long does it take to close a credit card?

The closure is processed when ready when you call, but it may take 7 to 10 business days to appear on your credit report. Request written confirmation and check your credit report 30 to 60 days later to confirm the account shows as closed.