There are several ways to cancel a Chase credit card. And today I’ll tell you what each of them is so you can choose the option that best suits you.
But first, I want you to know that doing so could have negative consequences.
Chase could deny you the opportunity to have another product of this type, so you should think very well about the advantages and disadvantages of the decision before executing. The decision will also affect your credit history, making it difficult to carry out certain processes.
How to turn off Chase’s credit card?
This is how to turn off your Chase credit card.
1. By phone
Calling by phone can be an easy way to cancel your Chase credit card. To do so, follow the procedure.
- Look for the number located on the back of the credit card. Then dial your cell phone or landline to directly reach the customer service team.
- The customer service representative is required to take the call. They will ask identification questions to corroborate their communication with the product holder. It would be best to properly answer queries such as first name, last name, account number, and zip code.
- Inform the reason for your call: Cancel the credit card. They will possibly ask the reason for your decision. After answering, the request will be attended successfully.
- You can also call directly at 1 (800) 432-3117.
2. Use the website for cancellation
Through the website, you can carry out the without-calling process in a simple way. Here’s how to do it.
- The first thing you need to do is to log in to the Chase website.
- Now, you must log in to your Chase profile, adding your personal information such as username and password.
- Have you already logged in to your online account? It would help if you went directly to the drop-down menu on the left side of the screen. Click on the “Secure Messaging” button.
- The next step is to click on the “I have a question about one of my accounts” option.
- Next, choose the credit card you want to close permanently.
- The system will allow you to add a short message explaining the reasons for your decision.
- The written message will be sent directly to the Chase customer service team.
3. Make a written request
You can also cancel your credit card in writing. And you can do it in the following way.
- Start by writing a letter in which you should attach important personal information such as name, room address, email address, and credit card number.
- The content of the letter should be written. Explain your intention to cancel your credit card. Attach the reasons why you wish to deactivate it permanently.
- Now, go to the post office nearest your home or the one of your choice. Send the document to the Chase mailing address.
- If you have sent the letter by mail, keep the tracking copy provided by the shipping company.
This is the address to which you should send your letter:
National Bank by Mail
P.O. Box 6185
Westerville, OH 43086
What happens after I complete the credit card cancellation?
Once you have completed the cancellation of a Chase credit card, you must wait at least 60 days to receive the first notice.
You will have a full credit report directly from the three major credit reporting companies. The next step is to evaluate the document to ensure your request has been honored.
You don’t have to do any additional procedures if the card was canceled. But if the reports indicate that the card is still active, the most advisable thing to do is to establish new communication with Chase.
But the best thing to do is to make a phone call. That way, you can talk to an advisor, whom you will have to notify in detail about your application.
How does your decision impact your credit score?
As you have seen, canceling the Chase credit card does not represent complexity. But the move could significantly impact your credit score.
For that reason alone, you must think many times before deciding to deactivate the product. The negative consequences will boil down to these three points:
- Credit utilization is today’s ratio between the credit limit and credit balance. If you have eliminated your card, your available credit will be considerably reduced. This situation will also cause your credit score to drop below 30%, which is a serious problem.
- This measure also negatively interferes with your credit history length. Cards that have been canceled become part of the credit reports. Therefore, they will not be considered when establishing a certain length of credit duration.
- If you have other credit cards, you should not be afraid to cancel the Chase product. The credit mix is seen as a positive issue. The problem is if the eliminated product is the only one you currently manage. Thus, the credit history could be significantly affected.
Does Chase close inactive credit cards?
The answer is yes. Chase can close an inactive credit card.
And it will do just that with those not used for a year. Regardless of whether it’s a Visa or Freedom, the company will notify the cardholder of that determination.
Your product will be canceled even if you use the card after the company’s notification. But if you want to keep it active, the company’s suggestion is to call customer service to explore ways to avoid the penalty.
If you don’t want this to happen, you should have the Chase card remain with a small fee. An example of this may be Amazon gift cards for $1.