How to Cancel Your Amex Card: A Step-by-Step Guide
Canceling your American Express card doesn’t have to be a headache. You can cancel your Amex card by phone, online chat, or mail. This guide walks you through each method, step-by-step. We’ll cover everything from preparing to cancel to what to do after you’ve closed your account.
Let’s dive into the world of Amex card cancellation and make this process as smooth as possible for you.
Before You Cancel: Important Considerations
Before you rush to cancel your Amex card, take a moment to think about a few key points. These could save you money and protect your credit score.
Impact on Your Credit Score
Canceling a credit card can affect your credit score. Here’s why:
- Credit utilization: Closing a card reduces your available credit, potentially increasing your credit utilization ratio.
- Length of credit history: If it’s one of your oldest cards, canceling might shorten your credit history.
Consider keeping the card open if it doesn’t have an annual fee and you’re not tempted to overspend.
Annual Fee Refunds
Did you just pay your annual fee? You might be able to get some of it back. Amex often offers prorated refunds if you cancel within a certain timeframe after the fee posts. It’s worth asking about this when you call to cancel.
Rewards Points and Benefits
Don’t let your hard-earned rewards go to waste! Before canceling:
- Check your rewards balance
- Use or transfer your points
- Take advantage of any remaining benefits
Remember, once you cancel, you’ll likely lose access to any unused rewards.
Preparing to Cancel Your American Express Card
A little preparation goes a long way. Here’s what to do before you start the cancellation process:
Checking Your Account Balance
Make sure your balance is zero. You can’t cancel a card with an outstanding balance. If you have a balance:
- Pay it off in full
- Consider a balance transfer to another card
Don’t forget about any pending charges that haven’t posted yet.
Redeeming Remaining Rewards
Use those points before you lose them! Options include:
- Book travel
- Get statement credits
- Shop with points
- Transfer to partner programs
Check the Amex Membership Rewards site for all your options.
Updating Automatic Payments
Go through your recent statements and look for any recurring charges. Update these with your new payment method to avoid missed payments or service interruptions.
Methods to Cancel Your Amex Card
You’ve got options when it comes to canceling your Amex card. Let’s break them down:
Canceling by Phone
This is the most direct method. You’ll speak with a representative who can process your cancellation immediately.
Canceling Online
While you can’t cancel directly online, you can use the chat feature to start the process.
Canceling by Mail
The slowest option, but it works if you prefer written communication.
Step-by-Step Guide: How to Cancel Amex Card by Phone
Let’s walk through the phone cancellation process:
Finding the Right Customer Service Number
Look on the back of your card for the customer service number. If you can’t find your card, try these numbers:
- U.S. Card Members: 1-800-528-4800
- International Card Members: 1-336-393-1111
What to Say When Canceling
Be clear and direct. Try something like:
“Hello, I’d like to cancel my American Express card, please.”
Be prepared to explain why you’re canceling. The representative might offer solutions to keep you as a customer.
Dealing with Retention Offers
Amex might offer incentives to keep your account open. These could include:
- Annual fee waivers
- Bonus points
- Statement credits
Consider these carefully. If they solve your reason for canceling, it might be worth keeping the card.
Canceling Your Amex Card Online
While you can’t directly cancel online, you can start the process through chat:
Using the Amex Chat Feature
- Log into your Amex account
- Look for the chat icon (usually in the bottom right)
- Start a chat and explain you want to cancel
Navigating the Cancellation Process
The chat agent will likely:
- Verify your identity
- Ask why you’re canceling
- Offer retention bonuses
- Process your cancellation or transfer you to a phone agent
Be patient. This process might take longer than a phone call.
Canceling Your American Express Card by Mail
If you prefer writing, here’s how to cancel by mail:
Writing a Cancellation Letter
Include:
- Your name and address
- Card number
- Clear statement that you want to cancel
- Request for confirmation of cancellation
Keep it short and to the point.
Where to Send Your Request
Mail your letter to:
American Express P.O. Box 981535 El Paso, TX 79998-1535
Use certified mail for proof of delivery.
What to Do After Canceling Your Amex Card
Your card is canceled. Now what?
Confirming the Cancellation
Get written confirmation. If you canceled by phone or chat, request an email or letter confirming the cancellation.
Destroying the Physical Card
Cut up your old card, focusing on the chip and magnetic strip. Some people go the extra mile and use a shredder designed for plastic cards.
Monitoring Your Credit Report
Check your credit report about a month after canceling. Make sure it shows the account as “closed by consumer.” If there are any errors, dispute them with the credit bureaus.
Alternatives to Canceling Your Amex Card
Not sure if canceling is the right move? Consider these options:
Downgrading to a No-Annual-Fee Card
Amex offers several no-annual-fee cards. Ask if you can switch to one of these instead of canceling outright.
Requesting a Retention Offer
Before you cancel, ask if there are any retention offers available. You might score some bonus points or a fee waiver that makes keeping the card worthwhile.
FAQs About Canceling Amex Cards
Let’s tackle some common questions:
Can I cancel my Amex card with a balance?
No, you need to pay off your balance first. If you can’t pay in full, consider a balance transfer or setting up a payment plan with Amex.
Will canceling affect my credit score?
It might. Canceling reduces your available credit, which could increase your credit utilization ratio. If it’s one of your oldest accounts, it could also impact your length of credit history.
What happens to my rewards when I cancel?
Generally, you lose access to any unused rewards when you cancel. Use them or transfer them before canceling.
Can I reopen a closed Amex account?
It’s possible, but not guaranteed. Amex sometimes allows reopening within a short period after closing. It’s best to be sure before you cancel.
Common Mistakes to Avoid When Canceling Your Amex Card
Watch out for these pitfalls:
Not Redeeming Rewards
Don’t let those hard-earned points go to waste! Use them before you lose them.
Forgetting to Update Automatic Payments
Go through your statements and update any recurring charges to avoid missed payments or service interruptions.
Closing Your Oldest Credit Card
If your Amex is your oldest card, consider keeping it open. Length of credit history is a factor in your credit score.
Key Takeaways on Canceling Your Amex Card
Canceling your Amex card doesn’t have to be complicated. Remember these key points:
- Consider the impact on your credit score before canceling
- Redeem or transfer your rewards
- Pay off your balance
- Update automatic payments
- Choose your cancellation method: phone, chat, or mail
- Get confirmation of cancellation
- Monitor your credit report afterward
Whether you’re simplifying your wallet or avoiding an annual fee, now you know how to cancel your Amex card the right way. Take your time, weigh your options, and make the choice that’s best for your financial health.
