How to Close Inactive Credit Card Accounts

Canceling a credit card can lower your credit score.

Closing inactive credit cards will close the account to further account activity. The credit card account will also not be reported to the credit bureaus after the account is closed. You should be aware that closing a credit card account can lower your credit score if closing the account shortens the length of your credit history or increases your overall credit utilization.

Instructions

1. Look for the customer service number for your credit card account. You can find this number on the back of your credit card or on a credit card statement.

2. Call the customer service number and tell the phone agent that you would like to cancel your credit card. Give your credit card number and the reason you wish to cancel the credit card. Ask for confirmation of the closed account to be mailed to your address.

3. Mail a letter to the credit card company. State you are writing to close your account and list your credit card number. Explain you have already called to cancel the account but wanted to follow up in writing.

4. Wait for confirmation of account closure and file this paper in your records. If you have any reason to believe the account has not been closed, pull a copy of your credit report and ensure the status is showing "closed."

References

• Credit Card: Cancel Credit Card
• Bank Rate: How to Cancel a Credit Card
• Consumerist: How to Cancel a Card Without Hurting Your Credit Score

Resources

• Get Rich Slowly: Canceling Credit Cards Affect Your Credit Score