How to Cancel Your Capital One Credit Card?

There could be various reasons for your question on how to cancel your Capital One credit card but Capital One offers multiple ways to cancel your card through phone, online and mail. Check out the detailed steps below. 

Best 3 solutions to how to cancel your Capital One credit card? 

The fastest way to cancel your card account would be through online and by phone. 

Online – 

To answer the question, “Can I cancel my Capital One credit card online?” follow the steps below.

Log in through your valid online credentials on your Capital One Account. You will land on the homepage. 

Select the Card you want to close, choose “I want to” and “Control your card” and follow the further directions to close your Capital One credit card account permanently. 

Through Phone – 

Another fastest way to cancel Capital One credit card is through connecting with their customer support staff at 800-227-4825 (within the USA) and 804-934-2001 (outside the USA). 

Follow the recorded instructions until you speak to their customer representative. Keep your card, card number and Social Security Number handy while you are on call. 

Make sure not to share any sensitive information with the Capital One staff on the recorded calls. While cancelling your card, you will be showered will better retention offers or rewards points to either downgrade or upgrade your Capital One credit card. 

Through Mail – 

Mailing a cancellation request is the most underused method in this internet world. Still, if you want to know, you could submit the Capital One credit card termination request at the below address, 

Capital One at P.O. Box 30285, Salt Lake City, UT 84130-0287. 

In Person – 

Unfortunately, Capital One doesn’t provide any option to cancel your credit card account at any of their branches nearby. 

How to cancel your Capital One credit card YouTube video. 

How to not hurt your credit scores by not canceling your Capital One credit card? 

A lot of customers often think about cancelling their credit card for below reasons, but you don’t actually have to cancel your card but rather follow the below alternatives. 

Lifestyle and over expenditures – 

If you feel like cancelling your credit card, just because you can’t control your expenses then just request for your credit limit reduction by a few dollars. This will prevent you from overshooting your budget as any payments above the credit limit would be automatically declined. 

Heavy Interest rates – 

Talk to your credit lender and explore options to reduce those APRs. If you have been a loyal customer with a good transaction history, Capital One might as well offer you some revised APRS or at least help you switch to some better cards at minimal fees, suiting your budget. 

Capital One will help you downgrade your card and preserve your credit score at the same time. 

Fraudulent activities on your card – 

Capital One will close your old card on account of any fraudulent transactions or if lost/stolen. You will be issued with a new card in such scenarios. 

Will closing my Capital One credit card affect my credit score? 

Yes, your credit score is reduced upon closing Capital One credit card. The sudden credit utilization ratio prop indicates a dent in your credit score hurting your credit report. 

Cancelling and reopening the same Capital One credit card will result in hard enquiries turning out to be double denting your credit reports, hence one should always be clear about their credit card termination. It’s better to keep an unused Capital One credit card rather than closing or cancelling it.