How to cancel and close Chase credit card

Are you thinking of cancelling your credit card for reasons best known to you? or you want to close your credit card with zero balance? which ever way . This article will explain more details on how to carry out the simple task in a seamless and easy steps.

Chase credit card customers can cancel through phone, mail, or via the secure messages feature on the Chase website. If you’re thinking of canceling, be sure to consider the implications it will have to your credit score instead of cancelling your credit card you can upgrade or downgrade.

You can switch to a different credit card but staying with the same credit card issuer.To do this, call the customer service number on the back of your current card and ask what product changes you are eligible for. The customer service representative can assist you through this process over the phone.

Also read: How to activate chase credit card within minutes

However,  before you cancel that  chase credit card, you should have a second thought on how old is your account because a canceled account will no longer improve your score, also you should answer this simple question,Does your card have an annual fee? If yes you are liberty to cancel or ask your issuer to downgrade your account.If it doesn’t, there might be little upside to getting rid of it.

You should also ask yourself, Will cancellation of my Chase credit card affect my credit utilization ratio which is the money you owe on your credit cards, divided by your total credit card limit. Canceling a card will mean you have less credit available. Any outstanding balances are then taking up more of your available credit than before, which could negatively affect your credit score.

 

Why do customers cancel their credit card?

it’s deal to cancel credit card when your spending is out of control and you’ve found yourself falling into debt, closing your credit cards might make sense if the temptation to use them is too great. A high annual fee may be another valid reason for canceling. Either way, you’ll want to pay off the balance in full and follow the steps listed above to close your card account.

Also read: How to open Chase Bank Checking Account -Easily Steps

How to cancel chase credit card

To cancel Chase credit card kindly follow the steps below:
1. Pay off balance
2. Use rewards
3. Call issuer
4.Check your credit report
5, Destroy card

Read: How to register for Chase Online and mobile banking 

1. Pay off balance: It’s a good idea to Pay off your entire balance before you close your credit card to avoid accidentally incurring additional fees which can impact your credit score and your chances of getting approved for new lines of credit

2,Use rewards: You should try and redeem any rewards that haven’t been used on your account or transfer them to your partner or to another card.

3. Call issuer: You can call Chase bank credit card issuer to cancel your card.

4. Make sure the balance is zero :Before canceling your card, it’s important to ensure that the balance is at zero. If you’ve used the card recently, either pay off the full balance or look for a balance transfer card with better terms.

5.On final note: Make sure your card is completely destroyed so no one will have access to it. Use scissors or a shredder if the card is made of plastic, or ask your issuer if they have a card recycling service for cards made of metal.