Cancelling your credit card
Step 1: Contact your credit card issuer
Contact your credit card issuer by phone or in writing and ask to cancel your account.
You can find the customer service telephone number on:
- your credit card
- your monthly statement
- the issuer’s website
You can find the mailing address on:
- your monthly statement
- the issuer’s website
Ask for confirmation in writing that they closed your account. Once you receive this confirmation, destroy the credit card. Keep the confirmation for your records.
Doing the following doesn’t cancel your credit card account:
- cutting up your card
- letting it expire
- not using it
Step 2: Check your credit card statement
Certain transactions may appear on your credit card statement even after you cancel your account. These may include:
- transactions you approved before you closed your account
- recurring transactions such as a monthly gym membership
If you make pre-authorized payments using your credit card, contact the company you're making the payment to. You may arrange to pay another way or cancel the service. If you don’t, the company will continue to bill you and the charges will build up until you pay them. Interest charges will continue to apply to any outstanding balance on your accounts even after you closed them.
Step 3: Check your credit report
Check your credit report to make sure it shows that your credit card was cancelled. Give your credit card issuer enough time to report the change to the credit bureaus. This usually takes about 30 days.