Simple, just call and cancel. That’s what I did. Depending on their limit, you might go down a bit, but nothing to be concerned about.
Once you have a Zero balance, pick up the phone and call them.
@Expansion wrote:Hello Fico Friends!
For months (years?) I've been meaning to cancel my two CreditOne cards.
They both have very small limits, and one has an annual fee that is billed monthly as $8.25. At this point I have enough credit that canceling them would have very little impact on my overall credit or utilization.
What is the best way to cancel these cards, without unleashing any chaos on my credit reports?
I've read that CreditOne are notorious for things getting messy after closing.
Is it enough to call? Do I need to also send a letter? How do I know they are not doing any shenanigans?
There are detailed instructions I found on this forum, but they're almost 10 years old, so I wanted to check in and make sure I'm up to date.
Thank you for your wisdom and insight!
Just make sure you have a zero balance or a credit balance, then call and cancel.
Be sure to follow up after canceling, for at least one full cycle, to make sure they don't slap you with one more fee.
