If you’re no anymore making use of your Capital One credit card or would like to change to a different card, it’s crucial to learn how to cancel Capital One credit card. The cancellation of your credit card can have consequences for your credit scores, which is why it’s essential to follow the correct procedure. This article will offer an extensive guideline on how to terminate your Capital One credit card.
Things to Consider Before Cancel Capital One Credit Card
Before you cancel your Capital One credit card there are some things you should be aware of:
- Credit scores may be affected in the event that you decide to cancel your credit card. Candling your credit card can decrease your available credit as well as can raise your percent of utilization, which can adversely affect your score on your credit.
- You may lose any rewards or benefits associated with the credit card.
- Cancelling your credit card can affect your credit score and is one of the most important factors in the calculation of your credit rating.
Steps to Cancel Your Capital One Credit Card
If you’ve opted to terminate your Capital One credit card Here’s the steps you must do:
- Pay off your balance– before you cancel your credit or debit card be that you pay the amount you have to pay.
- Call Capital One’s customer service – Contact Capital One’s client service number at 1-800-227-4225 and follow the instructions to speak to the representative.
- Request the cancellation of your credit card – After you’ve been connected to an agent, ask them to remove your credit card. It is possible that they may ask for an explanation to cancel the credit card, so be ready to give one.
- Cut off your credit card – After you’ve cancelled your credit or debit card you can cut it in half to stop anyone from making use of it.
What to Do After Cancelling Your Capital One Credit Card
If you’ve decided to cancel your Capital One credit card Here are some steps you should follow:
- Check your credit report – Following you have cancelled your credit card you should check your credit file to confirm your account has been closed and that there are no mistakes in your report.
- Redeem any rewards – If you have any rewards associated with your Capital One credit card, make sure to redeem them before cancelling the card.
- Check your credit score – Be aware of your credit scores to make sure that it isn’t affected by having to cancel your credit card.
Conclusion
Cancelling your Capital One credit card is straightforward however, it’s crucial to be aware of the possible impact upon your credit scores and history. Following the steps described in the article below, you can cancel your credit card, and limit the negative impact to your credit scores.