How do I close a credit card account?

Answered by James Kissner

Closing a credit card account can be a straightforward process if you follow the necessary steps. Here is a detailed guide on how to close a credit card account:

1. Pay off any remaining balance: Before closing your credit card, it’s important to pay off any outstanding balance. Make sure you have enough funds to cover the full amount to avoid any additional fees or interest charges.

2. Redeem any rewards: Check if your credit card offers any rewards or points that you can redeem before closing the account. Some cards may have expiration dates or restrictions on redeeming rewards after the account is closed.

3. Call your bank: Contact your credit card issuer’s customer service helpline to initiate the cancellation process. Be prepared to provide your account information, including the card number, name, and any other required details. The representative will guide you through the process and may ask for a reason for closing the account.

4. Send a cancellation letter: To ensure a paper trail and for your records, it’s recommended to send a written cancellation letter to your credit card issuer. In the letter, include your account information, request for the account to be closed, and your contact details. It’s advisable to send the letter via certified mail with a return receipt requested to have proof of delivery.

5. Check your credit report: After closing the credit card account, monitor your credit report to ensure that the account closure is reflected accurately. You can obtain a free copy of your credit report from each of the three major credit bureaus once a year at

6. Destroy your old card: Once the account is closed, securely destroy your old credit card to prevent any potential misuse. Cut the card into small pieces, ensuring that the card number and other sensitive information are completely destroyed.

It’s worth noting that closing a credit card account can have an impact on your credit score. Closing a long-held credit card with a good payment history can potentially lower your credit score. However, if you have multiple credit cards or don’t use the card frequently, closing the account may not have a significant impact.

Closing a credit card account involves paying off the balance, redeeming any rewards, contacting your bank, sending a cancellation letter, checking your credit report, and destroying the old card. By following these steps, you can successfully close your credit card account.