How To Cancel Credit One Card?

Credit cards are now being offered with simple processes of a few minutes, and this is what I believe has declined their highly respected value, which once they hold. Did you issue a Credit One Bank credit card and now don’t feel like keeping it, no worries, it’s easy. Many don’t know how a credit card works, they just opt for one because it’s readily available and helps them to buy whatever their heart says and indulge and boast about that.

Banks are offering credit cards because they understand the desires of the masses more than the needs and it’s true when someone with a salary of Macbook’s cost buys it on EMI on the credit card. Later all this indulgence is leveraged by banks and they offer loans against a loan to avoid default. Anyway, it’s good if you have understood this already or maybe you have succumbed already and now need to come out of this trap.

This guide will help you cancel the Credit one bank credit card. I have explained the easy methods broken down in simple steps below for you to understand and apply hassle-free. Before you start the cancellation, I would recommend you to go through the important know-before pointers to make yourself understand, the terms, policies, and deadlines. If you are unhappy with Credit One Bank, I have mentioned some best alternatives to it, towards the end of this post.

Know Before Canceling Credit One Card

Below are some important things to know before canceling a Credit One card:

• Credit Score: Canceling your credit card irrespective of the issuer,  always potentially impacts your credit score, especially if it’s an older card or your sole card. Credit scoring includes factors like credit utilization ratio (amount of credit used compared to credit limit) and credit history length. Canceling a card will shorten your credit history, which in return will increase your credit utilization ratio (if you carry a balance on other cards).
• Outstanding Balance: Remember that you won’t be able to cancel a Credit card if you have any outstanding balance. You must clear the entire balance before initiating the cancellation process.
• Annual Fees: If your card has an annual fee, I would suggest you check if you’ve already paid it for the year ongoing. If so, canceling might not save you much money.
• Rewards: You must understand that you will lose any of your unused rewards points or cash back upon canceling. I would suggest you contact Credit One to confirm their policy and understand.

How to Cancel Credit One Card Before Activation?

Yes, it’s possible and can be done easily. The quickest and only method in this concern is to call their customer support and put forward your concern, understand the process below:

Follow the simple steps below to cancel your subscription over a phone call.

1. Dial Credit One Bank at (877) 825-3242 from your registered mobile number.

2. Put forward your concern once you get connected to a representative that you wish to cancel your unactivated credit card with them.
3. Make sure you remember all your account information. Provide all the required details. 
4. Cross-verify with the customer service agent that your credit card has been canceled/processed or if there is any prerequisite pending before you finish the call. Ask for a confirmation message for your request for any future correspondence.

Keep checking for messages or emails from Credit One Bank, following up on your cancel request.

How to Cancel Credit One Credit Card? 

There are a few methods that I have mentioned below that will enable you to cancel your credit card with Credit One Bank. Understand the simple methods broken down into simple steps and select whichever process seems easy to you.

How to Cancel Credit One Credit Card Online? 

The first easy method is to cancel your Credit One card through the website with the simple steps mentioned:

1. Go to the official website of Clear.
2. Log in to your Credit One Bank Account. 
3. Scroll down and look for the “Account Services” section and click on it. 
4. Click on the Close Account option. 
5. A warning notification will pop up on your screen, that will show you the list of benefits you will lose after canceling your membership. 
6. Check the warning message as read and if you still wish to continue.
7. Follow the simple onscreen instructions and prompts and complete your cancellation process.

How to Cancel Credit One Bank Credit Card on the Phone?

This one is another easy method to put forward your request. Before you call them make sure you have your account information readily available. Information and entails required are, your customer ID, the name listed on the account, and other general information.

Follow the simple steps below to cancel your subscription over a phone call.

1. Dial Credit One at 1877 825 3242 from your registered mobile number.

2. Put forward your concern once you get connected to a representative that you wish to cancel your credit card with them.
3. Make sure you remember all your account information. Provide all the required details. 
4. Cross-verify with the customer service agent that your membership has been canceled/processed before you finish the call. Ask for a confirmation message for your request for any future correspondence. 

How to Cancel Credit One Bank Credit Card via Mail?

You can also write a letter containing your request for cancellation of your Credit One Bank credit card. 

1. Draft a detailed letter that mentions your intention to cancel.
2. Mention in the subject line “Cancel Credit card”. This ensures that request is next forwarded to the concerned department for quick procession.
3. Mention your concern about canceling and also support it with a simple and valid reason. Include important details like your name, billing address, account details, etc. 
4. Post the letter to the following Mailing Address.

Credit One Bank, General Correspondence, P.O. Box 98873,
Las Vegas, NV 89193-8873.

5. Check for any correspondence in the next couple of days in your mailbox and proceed as outlined.

How to Freeze Credit One Card?

Credit One bank currently doesn’t offer any option to freeze your Credit One credit card in the traditional sense. Credit One as an alternative offers a different feature that might serve a similar purpose, known as temporary card locking.

Freezing a credit card will restrict access to your credit report which will further make it difficult for someone to open new accounts in your name. Locking your card, on the other hand, will prevent any unauthorized transactions on your existing card.

Understand how can you proceed with this;

• Lock your card: If you come to know that your card is lost or stolen, you can get that locked immediately through the Credit One mobile app or website. This will help you prevent any further transactions until you unlock it or request a replacement card.

• Report a lost or stolen card: If you are sure about your card being lost or stolen, I would recommend you to immediately contact Credit One and report it. They will cancel the card and upon approval from you will also send you a replacement.

Alternatives to Credit One Bank Credit Card

• Chase Sapphire Preferred Card: This card offers customers a welcome bonus of 60,000 points after they have spent $4,000 on purchases in the first 3 months from account opening. Customers can earn up to 2x points on travel and dining and 1 point per dollar spent on all other purchases. It comes with an annual fee of $95.
  
• Capital One Venture X Rewards Credit Card: This card also offers a welcome bonus of 75,000 miles after customers spend $4,000 on purchases in the first 3 months from account opening. This also offers provision to customers to earn 2x miles on all their purchases and they can also redeem their miles for travel or transfer them to travel partners. There is an annual fee for this which starts at $395.
  

• Marriott Bonvoy Boundless Credit Card: This card is a suitable option for frequent Marriott stays, as it offers a welcome bonus of 75,000 points after customers spend $3,000 on purchases in the first 3 months from account opening. Customers can also earn 6 Marriott Bonvoy points per dollar spent at Marriott Bonvoy Hotels and also 2 points per dollar which they spent on all the other purchases. The annual fees start at $95.
  
• Citi Double Cash Back Card: This card like others also offers a welcome bonus of $180 cash back after the customers spend $1,500 in purchases in the first 3 months from account opening. Customers are offered to earn unlimited 1% cash back on all their purchases upfront and also an additional 1% cash back as they pay them off. The best part is no annual fee.

• Blue Cash Preferred Card from American Express: Like others, this one also offers a welcome bonus of $300 statement credit after customers spend $6,000 on purchases in the first 6 months from account opening. Customers can earn 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%), 3% cash back at U.S. gas stations (up to $6,000 per year in purchases, then 1%), and 1% cash back on other purchases and the annual fee starts at $95.
  
• Discover it Student Chrome Card: The welcome bonus offered is up to $200 match after customers spend $1,000 in purchases in the first 3 months from account opening. Customers can also get a cash-back match on all the cash back they’ve earned at the end of the first year. There is no annual fee.

Conclusion

Financial experts suggest saying no to any sort of credit until it’s utterly important, but we here are indulging in credit cards, because they offer points, features, and cashback which most of the time sound senseless and force us to spend a huge chunk so that we can save a negligible amount. Anyway, I hope you have got the answers to your questions through this post.

Frequently Asked Questions