Steps
- Gather the information you need to cancel your card. If you have the credit card, it will have the phone number to call and the account number. You will also need to verify your identity so know your Social Security Number.
- Call the phone number on the back of the card.
- Navigate the menus. Listen for an option to cancel your card or to speak with a representative.
- Tell the representative that you want to cancel your credit card. They will ask for a reason and any reason will do, "I don't use it" works.
- Say no. They usually will try to keep you as a customer. They may tell you about some low rates on balance transfers or other benefits you can get. Just say no thanks.
- Cut up the old credit card.
Tips
- Get your free credit report. The three credit reporting agencies are required to give you your credit report once a year. Go to http://www.annualcreditreport.com. Your credit report will show you all your open accounts. You may have some cards you forgot you had. Your credit report can help you cancel old cards you no longer use.
- You can get credit reports from all three agencies at once or spread it out so you can get one three times during the year.
Warnings
- Canceling credit cards affects your credit score. The longer you have held a credit card, the better. Consider keeping the card open if you have held it for a long time.
- Don't cancel or apply for any credit cards if you are getting ready to buy a house or get a car loan. It will lower your score which can affect your chances of getting a loan and affect the interest rate.
Things You'll Need
- Credit Card Account number
- Credit Card Company's phone number
- Phone
- Personal information to verify your identity such as Social Security Number and Mother's Maiden Name.
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