How do I cancel my Apple Credit Card?

To cancel a credit card transaction, contact either the merchant on the other side of the transaction or the credit card company. Which you should contact first depends on whether or not you think the transaction is fraudulent.

When You Think the Transaction Is Fraudulent:

If you want to cancel a credit card transaction because you think it is fraudulent, the first thing you should do is search online for the name of the biller, as listed on your credit card account. Sometimes, legitimate transactions can lead to false alarms simply because a biller’s corporate name isn’t as recognizable as the brand name a consumer really does intend to pay. If that clears things up in your case, great – crisis averted.… read full answer

However, if you still don’t recognize the details, you should definitely call your credit card’s issuer (the number is listed on the back of your card) to inform them about the unauthorized transaction. Even if the issuer can’t cancel the transaction before it goes through initially, you will not be on the hook for any fraudulent purchases made with your credit card account. All credit cards give users a $0 fraud liability guarantee.

When You Just Want to Cancel the Transaction:

If you know that a credit card transaction is legitimate, but you want to cancel it because you changed your mind or made the purchase by mistake (or any other reason), take your request directly to the merchant the transaction is with. The credit card company won’t be able to do much about a legitimately authorized credit card transaction. They might be able to instruct you on how to cancel future transactions if the card is being used for a subscription or other recurring purchase, but that’s about it.

Your chances of being able to cancel a credit card transaction made online figure to be especially good. Check the merchant's cancellation policy. Some provide a small window in which you can cancel a pending transaction. Just bear in mind that in this situation, an order may show as canceled before the transaction reversal posts to your credit card account.

The best Apple Card benefits are rewards of up to 3% cash back on purchases, $0 fees, easy integration with Apple products, and the possibility of low APRs. Also, the Apple Card is made of titanium and doesn’t have a card number on it, which makes it less susceptible to fraud and gives it a sleek look.… read full answer

The Apple Card’s benefits don’t include many things traditionally offered by other credit cards, such as travel insurance, rental car insurance, purchase protection or extended warranties. But issuers have been cutting down on those benefits in recent years, anyway.

Here are the best Apple Card benefits:

• Lots of cash back:
  Purchases made with this card give you 2% Cash on all purchases using Apple Pay (1% for purchases made with the physical card), 3% on purchases made directly with Apple, including at Apple Stores, on the App Store and for Apple services, and on purchases made at select merchants (like Exxon, T-Mobile, Nike, Uber and more).
  
  Plus, unlike other credit cards, the Apple Card offers its cash back on a daily basis. So, the day a purchase processes, the cash back will appear in your account. You can use cash back to make purchases with Apple Pay, pay your credit card bill, or make a transfer to your bank account.
• No fees:
  The Apple Card has a $0 annual fee. It also has a 0% foreign transaction fee.
• Potential low APR:
  Depending on your overall creditworthiness, the interest rate that you’re assigned could be anywhere from a low of 15.24% (V) to 26.24% (V) at the most. The average credit card offer currently has a regular APR of roughly 18%.
• Equal monthly payment financing:
  This card has an introductory purchase APR of 0% for 6 - 24 months after account opening. Once this intro period expires, any remaining balance will be subject to the regular APR of 15.24% - 26.24% (V).
• Integration with Apple products:
  The Apple Card is integrated with Apple Pay and the Wallet App, allowing you to easily track your purchases as well as use Face ID or Touch ID to authorize purchases. You can make purchases using your phone when you don’t have your card on hand, as well.
• Virtual card numbers:
  You can use the Wallet app to generate virtual card numbers to further protect yourself from fraud while shopping online.
• Metal card:
  The Apple Card is made of titanium, giving it a sleek, prestigious look that’s in line with Apple’s brand.

While the Apple Card’s benefits don’t include some traditional perks, the card does provide a lot of useful features that make it a worthwhile addition to your wallet – if you love Apple products and services.

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:

1. 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.
2. 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.
3. 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.