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 credit card 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 your account has been closed. Once you receive this confirmation, destroy the credit card. Keep the confirmation for your records.

Doing the following does not 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 credit card account
• recurring transactions such as a monthly gym membership or magazine subscription

If you make pre-authorized payments using your credit card, contact the company you're making the payment to and 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 they are closed.

Step 3: Check your credit report

Check your credit report to make sure it shows that your card account has been closed. Give your credit card issuer enough time to report the change to the credit bureaus. This usually takes about 30 days.

Related links

• Getting your credit report and credit score
• Checking for errors in your credit report
• Credit report and score basics
• Paying off your credit card