How to close a credit card

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emily Lopez

Member
I’ve just finished paying off 4 of my 6 credit cards, and now I’m thinking about closing them. My dad told me that if I just call the bank and ask to cancel, they might not actually follow through. He suggested I send a letter or email so there’s written proof. Is that really necessary?

Also, from a credit score standpoint, I’m not sure if closing the accounts is even the right move. Would it make more sense to leave them open with a zero balance and just not use them, or is closing them better for my credit in the long run?

Would love to hear what’s worked for others in a similar situation
 
Honestly, leaving them open is usually better for your credit score because it helps with credit utilization and length of history. Closing them reduces available credit, which could bump your utilization percentage up even if you have no balances. As for canceling, calling is fine, but always ask for a written confirmation email. That way, if something goes wrong, you’ve got proof. I wouldn’t bother with snail mail unless you really want extra security.
 
My dad said the same thing to me lol. I called Capital One years ago, asked them to cancel, and they actually kept it open just in case I changed my mind. I had to call again. Written proof helps if you want no doubt. That said, credit score-wise, unless the cards have an annual fee, I’d leave them open with a zero balance and just toss them in a drawer.
 
I work in banking, and I can confirm: phone cancellations do go through if you make sure to get the confirmation number. The agent should give you one. Always ask for it. As far as credit score, it’s usually smarter to leave cards open unless they’re costing you money in fees. Closing them doesn’t help your credit....it only potentially hurts.
 
I had this exact debate with myself last year after paying off 3 cards. I wanted the psychological “closure” of shutting them down, but everyone warned me against it. I left them open, and now my credit score is 60 points higher. I literally haven’t touched them. So my advice: hide them in your sock drawer, freeze them in a block of ice, whatever just don’t close.
 
Closing cards is kinda overrated unless they’re toxic to you financially. If you think having them open will tempt you back into debt, then closing might be worth the potential score hit. Otherwise, it’s like flexing your credit muscle more available credit is usually a good thing. And your dad isn’t wrong about the paper trail; banks sometimes forget
 
I closed an Amex over the phone and they immediately emailed me the closure confirmation. Took 3 minutes. No drama. So I think the “send a letter” thing is more old school advice. For score stuff: remember that utilization is king. Keeping cards open with zero balance makes your utilization look great. Closing reduces that buffer.
 
The only card I ever actually canceled was one with a $95 annual fee I didn’t want to pay. Everything else I keep open with no balance. If it’s free, it can’t hurt you. It’s like extra credit in school......why throw it away? Unless you really need the mental freedom of not having the account, I’d leave them alone.
 
I’d listen to your dad on the proof part tbh. My sister called to close a card, and six months later she realized the account was still active and had racked up fees she didn’t know about. Huge mess. Email confirmation is free insurance. Also, closing might ding your score a bit, but if you’re not applying for a house or car soon, it’s not the end of the world.
 
One thing to consider: your oldest card is super important. Closing that one will shrink your credit history. If any of the 4 you paid off are your oldest, I’d definitely keep them open. Maybe close a newer one if you have to shut one down. But the age of accounts is like 15% of your score.
 
I’m in the camp of why close at all? Unless it’s costing you money, just cut it up and forget it exists. If you’re worried about fraud, set up alerts on it so you get notified instantly if it’s used. That way you get all the benefits of open credit lines with none of the headache.
 
Your dad isn’t totally wrong, but banks nowadays usually follow through with digital confirmation. I closed a Chase card online and they sent me a secure message confirmation. Never had an issue. It’s the credit score piece that’s trickier.......closing = higher utilization percentage = possible drop. I keep mine open even if unused.
 
Dude, I made the mistake of closing three cards when I got debt free at 25. My score tanked by like 80 points and I couldn’t get a good rate on my car loan. Regret it big time. If I could go back, I’d leave them all open and just let them sit there. Learned that lesson the hard way.
 
Lol, everyone here talking about utilization like they’re FICO scientists. The truth is: keep them if they’re free, close them if they cost you money. That’s it. Everything else is just internet math problems. Your dad is right about paper trails though ......CYA never hurts.
 
I left mine open and set up autopay for Netflix on one of them just to keep it alive. Banks like seeing a little activity every once in a while. It’s like watering a plant. Too much or too little, it dies. Try that instead of canceling, works like a charm.
 
Be careful with the sock drawer method though. Some banks will shut cards down for inactivity, and it can happen without warning. Happened to me with Citi. If you want to keep them open, put one small charge on them every few months so the account stays active.
 
Tbh, I don’t think mailing a cancellation letter is necessary anymore unless you’re dealing with some shady lender. For big banks, their systems are pretty airtight. I’ve closed 2 cards through online chat and got confirmations in my secure inbox within minutes. The score hit was like 5–10 points, nothing major.
 
My experience: I closed a Discover card because I didn’t like the company, and my score dropped 15 points. It recovered in a couple months. Honestly, unless you’re applying for a mortgage soon, the impact of closing isn’t as big as people make it sound. Your dad’s advice on proof is solid though.
 
My credit union actually requires written notice, so your dad might be more right than Reddit thinks. It depends on the bank. Some do everything online, some are old school. Check your bank’s policy before assuming. Better safe than sorry.
 
First off congrats on paying those cards off. Can't imagine the feeling of relief you are feeling. However don't close them. If you are scared of accumulating more debt, cut up the card, take it out of any of your digital wallet or just lock the card online so no transaction goes through. Your credit report needs to have accounts on it even if it's a 0 balance. Also need to have a high credit limit to have a low credit utilization in the chance you do use any of the cards.

Also if any of the cards you are considering close have annual fees, call them to downgrade to a card with no annual fee and just keep them with a zero balance. If you do keep the 4 cards open, just make some <than $5 charges every 6 months, setup autopay or pay it off immediately so there's some activity and they don't close the card or reduce your limit.

I have 36 credit cards and only use 4 max. The rest have a 0 balance. I did open the paypal credit card last year and forgot to use the card. My credit limit was just reduced by 8K.
 
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