How do I cancel an Upgrade Credit Card? This question is about the Upgrade Cash Rewards Visa®

How do I cancel an Upgrade Credit Card?

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This question is about the Upgrade Cash Rewards Visa®

Chip Lupo, Credit Card Writer

@CLoop • 05/16/22 This answer was first published on 05/16/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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To cancel an Upgrade Credit Card, call customer service at 1 (877) 418-3667 and ask a customer service rep to cancel your card account. Cardholders can also cancel an account by mail.

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 cash back, 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 Upgrade Credit Card.

How to Cancel an Upgrade Credit Card

By phone

Call customer service at 1 (877) 418-3667. 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.

By mail

Send your written request to cancel the card to:

275 Battery Street,
San Francisco, CA 94111

It’s important to know that when you cancel an Upgrade 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.

Answer Question

Is it better to cancel unused credit cards or keep them?

It is better to keep unused credit cards open than to cancel them because even unused credit cards with a $0 balance will still report positive information to the credit bureaus each month. It is especially worthwhile to keep an unused credit card open when the account does not have an annual fee.

Still, there are times when it may be beneficial to close your credit cards, such as to avoid expensive annual fees. And...

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Is closing a credit card with zero balance a good idea?

Closing a credit card with zero balance is not a good idea if that card has no annual fee. Any credit card you manage responsibly, even an unused one, reflects positively on your credit history. So closing such a card will have a negative impact on your credit standing. But it can be worth it if your card is costly or if you’re worried about falling victim to fraud while you’re not keeping a close eye on it.

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What happens if you cancel a credit card with a balance?

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...

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