Cameron DiGiovanni, Writer
@cdigiovanni20
To cancel a Visa credit card, call the card issuer’s customer service number and ask a representative to cancel the account. Some card issuers, such as Chase, also allow cardholders to cancel a credit card through a secure messaging portal on their website or mobile app. You cannot cancel a credit card directly through Visa, as it is a card network, not a card issuer.
How to Cancel a Visa Card in 4 Steps
- Redeem rewards: Redeem any points, miles, or cashback you've accumulated before canceling, as you may lose them once the account is closed.
- Pay off the balance: Ensure your credit card balance is paid in full. If this isn't possible, transfer the balance to another card first to avoid fees and interest after cancellation.
- Contact customer service: Call the card issuer’s customer service line and ask to cancel your card or send a cancellation request through the issuer’s secure messaging portal, if available. In most cases, calling the card’s issuer is the best way to cancel a credit card. Decline any retention offers and confirm cancellation.
- Get confirmation: Ask for written confirmation of the account closure. This is helpful if there’s ever a dispute about whether the account was closed.
Once you’ve confirmed the closure, shred or cut up your card to prevent any potential misuse.
Canceling a credit card may impact your credit score, especially if it's an older card. If maintaining your score is a priority, you might consider keeping the account open or switching to a no annual fee card instead. You can use WalletHub’s credit score simulator to see what would happen if you close your account.
People also ask
How can I cancel a credit card before the annual fee is charged?
You can cancel a credit card before the annual fee is charged if you do it right before the account’s anniversary. The annual fee is charged when the account is opened and on each anniversary. If you want to cancel the card before the first annual fee is charged, you should call customer service before activating the credit card.
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read full answer by Maria Adams, Credit Cards ModeratorHow do I cancel my credit card online?
To cancel your credit card online, log into your account and look for an option to close your card or click on the secure chat feature to send your request. The process is pretty much the same for all the major credit card issuers that allow you to cancel your account online, including American Express, Capital One, and Chase.
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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.
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