If your card costs too much in fees that you don’t feel are offset by rewards, call the number on the back of your Credit One credit card and ask if you can downgrade to a less expensive card. If your current Credit One credit card isn’t serving your needs well enough, consider requesting a credit card upgrade or downgrade. If you’re not yet set on closing your Credit One credit card for good, consider one of these alternatives. Las Vegas, NV 89193-8873 Alternatives to canceling your Credit One credit card To cancel your Credit One credit card by mail, send a letter detailing your wish to cancel and your account information to the following address: How to cancel a Credit One credit card by mail Have your credit card number and Social Security number on hand, as you may be asked for this information. Tell the agent you wish to cancel your credit card account, then provide them with your account information. To cancel your Credit One credit card by phone, call (877) 825-3242. How to cancel a Credit One credit card by phone Here’s how to close your Credit One account using the best method for you. There are multiple ways to cancel a Credit One credit card. How to close a Credit One credit card account Both of these are factors in your credit score, so you may see a slight drop in points when you shut down your Credit One credit account. Your credit score may drop: Canceling a credit card may affect your credit utilization ratio and your credit age (though the latter will only be affected in your VantageScore, not your FICO score).Instead, you’ll continue to be billed until the balance is paid in full, even if your Credit One account is fully closed. You’ll still get billed: If you leave an unpaid balance on your Credit One credit card, the debt won’t disappear when you close the account.Unless you’re also paying monthly fees, consider waiting to cancel until right before your next annual fee is due, so you can continue taking advantage of your Credit One credit card’s benefits in the meantime. You won’t get your annual fee back: If you’ve already paid an annual fee for your Credit One credit card, you won’t get any of it refunded when you cancel-even if you still have most of the year left.Make sure to cash out on your points, miles, or cashback rewards before you formally cancel your card. You’ll lose your points: According to Credit One, you’ll forfeit any unredeemed rewards on your Credit One credit card when you close your account.Here are some things to consider before ending your line of credit: What to know before canceling your Credit One credit cardĬlosing a credit card account has some hidden consequences you should consider before you take steps to officially shut down your Credit One credit card account. If you’re on the fence about deactivating your Credit One account, there are alternatives you can explore. However, there are some things you should know before officially canceling your credit card, so you don’t cost yourself money or damage your credit score. You can close your Credit One credit card account in two ways: over the phone or by mail.
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