About to close a credit card for the first time

[Anonymous]

So since the annual fee will be billed next month I figure now is time to go ahead and close my Capital one credit card. Haven't used it in 4 months since it only has a 750 CL and I have other cards that give me better rewards so I would rather just close it and save myself 36 dollars. Has had a 0 balance since February and only kept it open this long to squeeze out a few extra  months of reporting.

So what do I need to know about closing a credit card? Don't care about util, score impact, or any of that which is what the sticky is about just what do I need to do and say to officially close it?

I figure you have to call, you can't do it over secure message right? And afterward how do I know the card is officially closed and done with? Will I get an email or letter in the mail stating the account is closed? My biggest fear is the CSR says it is closed and then next month the AF is billed anyway.

[Anonymous]

Cap1 is actually pretty good about closing accounts, one of the few things they are really good at.  Just call them give them your account number and tell them you want to close the account.  If Peggy does screw it up, call back again next month and raise holy hell.  If you close the account before the due date of the billing period in which the AF is billed, they have to drop the AF.  Which is a good thing for those who do not like AFs   However it is not worth an extra month of two of trade line, since a closed account will stay on your report for 10 years.

Close it, Cap1 has served its purpose for you and you have moved on... good work and nice scores

[Anonymous]

I closed two Capital One cards earlier this year, it was very easy and took maybe 5 minutes.  One time I didn't even talk to a person, but for the second card I did.  I got letters shortly after saying the accounts were closed and I logged in to online banking again and they were closed.  I checked my reports a couple months later and they were reporting as closed.

[compassion101]

It's pretty easy to close an account with capone, I did it by accident one time while trying to get an AU on my account. I couldn't get a cust service rep to talk to, was on hold for 30 minutes. I called back and in the main menu it gave me a list of choices and I chose the "other" option. There were four choices, one of which was press 4 to close account. I figured this would get me to talk to a rep so I hit it. An automated message then confirmed that my account was now closed and thanked me for being a customer. I called back and entered my account info and my account (0 balance) was no longer a valid account.  

Took me many more hours and waiting in the mail for new card to reopen the account under "special circumstances"

[Anonymous]

It doesn't give me any option to close the account or even speak to a CSR when calling the 800-955-7070 number so I will have to ask in a secure message. Already not happy at all that they dont make it easy to close your account. I already want to just say goodbye to capital one and move on after this.

[Repo-ed]

Closed mine by talking with a CSR through instant messaging.

[sunshine7157]

I closed my HSBC-turned-CAP1 account on May 20 by phone, so as not to get hit with the $59 AF for a $400 cl. Much to my disappointment, the AF showed up on this open credit card this month. I called & raised the roof. They closed it immediately and re-reported it. Just keep an eye on it on your online account site. As soon as its closed, it'll say 'account closed'. My situation was the exception, I think. Most people don't have this problem with CAP1.

[Anonymous]

Yeah I just closed my card by the live chat. Was pretty easy the CSR said my account was closed and will be reported to the CB's within 30 days as paid in full and all future charges will be declined if I use the card.

The annual fee would have been billed when my statement cut next month so time to watch my account just in case they try to pull a fast one.

All in all I had my fustrations but I am very happy with capital one. They gave me an unsecured card when everybody else was denying me for lack of credit references. Their Venture card is good for travel and I would gladly go for that card but I value aspirational awards more than a simple cashback rebate program so the Sapphire preferred will work better for me.

I will miss capital one.

[bamagirl1]

Hi! I closed my C1 through secure messasging for one and online chat for another that was previously HSBC but C1 took it over..both of them had small AF's but I feel I have outgrown them but they did serve their purpose..LOL

I actually felt kinda good doing it..

[skyisthelimit]

You shouldn't see a score drop unless your UTI jumps high.  Like another poster said, your have that on your report for another 10 years.... My reports age is about to drop becouse of a 10 year old loan (paid 10 years ago) that is about to drop off .