How to close a credit card the right way—A complete guide

Closing or cancelling a credit card is a big financial decision which could impact your credit score and overall financial health. Know the procedure: It may differ from one credit card to another, so be sure to check the procedures set by that specific bank. It may differ from one credit card to another, so be sure to check the procedures set by that specific bank. Losing reward points: When you cancel a credit card, very often you will lose reward points that you accumulated from the purchases. 2) Through written request To start initiating closure, write to your credit card issuer requesting cancellation while including all relevant credit card information.