You can easily report a Wells Fargo credit card lost or stolen online, but the only way to completely cancel a Wells Fargo credit card account is to call customer service at 1-800-642-4720.

Before you do so, however, make sure you're canceling your Wells Fargo card for the right reasons. It might make sense for a card with an annual fee that you don't plan to use anymore, for instance. But if your Wells Fargo credit card isn't costing you any money, you're better off keeping it open. In general, the more available credit you have, the better it is for your credit score. An account with zero balance also helps your credit utilization. And you'll still get credit for paying on time every month.

The credit score implications are at least worth considering before you cancel any credit card account, especially if you plan to take out a big loan in the next six months or so. In any case, it's always good to have an escape plan, so all Wells Fargo cardholders should know how to cancel their accounts should the need arise.

To cancel a Wells Fargo credit card:

Pay any pending balance and redeem your rewards first. You won't be able to close your account with an unpaid balance, and you'll lose any unredeemed rewards once your account is closed.
Call Wells Fargo credit card customer service at 1-800-642-4720. Enter your card number, press the pound key and tell the representative that you'd like to close your account.
Wells Fargo will close your account immediately. They will mail a letter formally confirming the change within 10 business days of your call.
Check your free credit report. At the very least, make sure to do so two months after receiving Wells Fargo's letter, to confirm the account is closed.

After closing your Wells Fargo credit card, you may want to re-evaluate how much you spend on any other credit cards you may have. Closing a credit card means you have less available credit, and thus possibly higher credit utilization, which can be bad for your score. You can monitor your credit score with WalletHub's free daily updates to ensure that your credit isn't affected by closing your Wells Fargo account.