Be aware that if there’s a balance remaining on the canceled account, you will still need to make at least the minimum payment every month until the balance is paid in full. In addition, you will forfeit any unused miles, so be sure to redeem them before you cancel the card. You will also need to update the payment method for any recurring charges linked to your Alaska Airlines Credit Card.
How to Cancel an Alaska Airlines Credit Card
By phone: Call customer service at (800) 732-9194 and enter your full account number, your Social Security number (SSN) or your telephone access ID to verify your identity. Then, follow the prompts to speak to a customer service representative, and let them know you want to cancel.
The representative may offer you a retention bonus to keep you on as a customer, but you can simply decline the offer and proceed with canceling the account.
In person: You can cancel your card at one of the issuer’s branch locations during normal business hours. To find a branch in your area, use the branch locator tool link on the issuer’s website or mobile app.
By mail: Send your written request to cancel the card to:
Bank of America PO Box 982234 El Paso, TX 79998-2234
It’s important to know that when you cancel an Alaska Airlines Credit Card, you may see a decrease in your credit score, depending on the card’s credit limit and how long you’ve had the card. You can get an idea of how much a canceled credit card will affect your credit score by using WalletHub’s free credit score simulator.
There is no Alaska Airlines Credit Card cancellation fee. You must, however, pay any outstanding balances before you can close your account.
You can cancel your Alaska Airlines credit card by calling 1-800-432-1000.
Usually, cancelling a credit card could negatively affect your credit score, so it's best to just leave it open and unused. But if this card's annual fee of $75 starting the second year is too high, considering how much you use it, it's probably a good idea to cancel it.… read full answer
Closing a credit card with a balance is possible, and it can be beneficial when a credit card company changes your account’s terms for the worse, such as raising the annual fee or APR. It can also be a good idea to remove the credit card itself from the situation if you want to pay off the existing balance without the temptation to spend more. Closing a credit card doesn’t cancel the balance owed, nor does it make the entire balance due immediately. You will have to continue making at least the minimum payment due each billing period until the balance is paid off. But closing the account will prevent you from making new purchases.… read full answer
There are a lot of factors to weigh out when deciding whether or not closing a credit card account is the best idea, so it’s wise not to do it in haste. Before you take action, consider what happens if you cancel a credit card with a balance.
Here’s what happens when you close a credit card with a balance:
You will still owe your balance. You won’t be forced to pay the balance on the closed account right away, but you must continue making at least the minimum payment due each billing period. Interest will still accrue, and the minimum amount due will steadily increase. Every card issuer will have different rules for this situation, and you may find information about it in your card’s terms. If not, you should call customer service to find out as much as you can from your card issuer before agreeing to close the account. If you’re thinking about closing the card so you can finally pay it off, consider a balance transfer, a payment plan with your card issuer, or a credit card consolidation loan.
Any rewards you have earned will likely be lost. Make sure to use any remaining rewards on your existing card, as they’re likely to be forfeited when you close the account. Plus, it can’t hurt to pay down a bit of your balance by redeeming for cash back.
It will affect your credit score. If the credit card is one of your oldest credit accounts, your average credit age will shorten. Your credit utilization could also go up if you have balances on other credit cards, too. Both of these will have a negative effect on your credit score. If you plan on applying for a loan or financing a big purchase anytime soon, check your credit score first to make sure you can afford to take a hit.
All in all, closing a card with a balance is rarely the best option. There are alternatives, but not all of them are available to people of every credit level – such as a good deal on a balance transfer credit card. If you’re willing to endure a potential hit to your credit score in exchange for the long-term health of your finances, closing an account with a balance can be a way to get yourself on track. Just make sure you understand the repayment terms before you act. Closing a credit card with a balance does not get you out of paying that balance.
You can't cancel an activated credit card before the annual fee is charged.
Once you get a card and activate it, the first annual fee is automatically subtracted from your limit, so you have to pay it to get your whole credit limit.
As far as subsequent annual fees go, if your balance is 0, then yeah nothing can hold you back from it. Just be prepared for your score to go down a bit once the card is reported as closed.… read full answer
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