How to cancel your Credit One Bank card
To cancel your Credit One Bank card, call their customer service line at 1-877-825-3242. Have your card number ready. Tell them you want to close the account. They will confirm your identity, process the cancellation, and give you a confirmation number. The card stops working when ready, though it can take a few days for the closure to show on your credit report.
Before you call, pay off any remaining balance on the card. Credit One will not close an account with an outstanding balance — they will ask you to settle it first. If you have pending transactions, wait a few days for them to clear before calling, so you know the true balance.
Write down the confirmation number they give you. Keep it for your records. You do not need to physically destroy the card, but you can cut it up if you prefer.
Key Takeaways
- Call Credit One Bank customer service at 1-877-825-3242 with your card number and ask to close the account.
- Pay off your full balance before calling — Credit One will not close an account that still owes money.
- Write down the confirmation number you receive and keep it with your records.
- The card stops working right away, though it may take several days for the closure to appear on your credit report.
- Closing a credit card can lower your credit score temporarily because it reduces your total available credit.
Why you might want to cancel
Credit One Bank cards carry annual fees — usually between $39 and $99 depending on the card type — and relatively high interest rates. If you have built your credit and now may have access to for a card with no annual fee or a lower rate, closing this one makes financial sense.
Cancelling also stops future charges. If you are not using the card and do not want to pay the annual fee again, closing it prevents that charge from hitting your account next year.
What happens to your credit score when you cancel
Closing a credit card typically lowers your credit score in the short term. The main reason is that it reduces your total available credit. If you had a $500 limit on the Credit One card and no other cards, closing it shrinks your total credit availability. This affects your credit utilization ratio — the amount of credit you are using compared to the amount available to you.
The impact is usually temporary. Your score often recovers within a few months as long as you keep other accounts in good standing and do not miss payments elsewhere.
If the Credit One card is your oldest account, closing it can also lower your score because it shortens your average account age. Older accounts help your credit history look more established.
Steps to take before you call
Check your statement online or by mail to see your exact balance. Log into your Credit One account at creditonebank.com or call 1-877-825-3242 to review recent transactions. Make sure nothing is still pending.
Pay the full balance using whatever method is easiest for you — online through your account, by phone, by mail, or in person at a bank branch if you have access to one. Do not close the account until the balance is zero.
If you have set up any automatic payments or recurring charges to this card (subscriptions, insurance, utilities), update those accounts with a different payment method now. Once the card is closed, those charges will fail and may trigger late fees or service interruptions.
Gather any documents related to the account — recent statements, the card itself, anything with your account number. You will not need to mail these in, but having them nearby when you call makes the process faster.
What to say when you call customer service
Call 1-877-825-3242 during their business hours. Have your card number ready. When you reach a representative, say: "I would like to close my Credit One Bank account." They may ask why, but you do not have to give a reason. A straightforward "I am no longer using the card" is enough.
They will verify your identity by asking for your Social Security number, date of birth, or other personal information. Answer their questions. They will confirm your balance is zero. If it is not, they will tell you the amount owed and ask you to pay it before they can proceed.
Once the account is closed, ask for a confirmation number and write it down when ready. Ask them to confirm the date the account closes. Some representatives will also offer to mail you written confirmation — you can accept or decline.
After your account is closed
The card stops working right away. Any attempt to use it will be declined. Transactions you made before the closure will still process normally.
Check your credit report a few weeks later to confirm the account shows as closed. You can view your credit report free once per year at annualcreditreport.com. The account will remain on your report for seven years after closure, but it will show a zero balance and a closed status.
If you see any unexpected charges or problems after closure, call customer service again with your confirmation number and they can investigate.
Alternatives to cancelling
If you are mainly concerned about the annual fee, you can call and ask Credit One to waive it. They sometimes do for customers with good payment history, though there is no may provide. It costs nothing to ask.
If you want to keep the account open but stop using it, you can straightforward put the card away. This keeps your available credit intact and preserves your account age, both of which help your credit score. Just make sure you do not forget about it — set a phone reminder to check the statement once a year and confirm no fraudulent charges have appeared.
Frequently Asked Questions
Will closing my Credit One card hurt my credit score?
Yes, usually in the short term. Closing a credit card reduces your total available credit, which can lower your score by 10 to 50 points depending on your overall credit profile. The impact is temporary and your score typically recovers within a few months if you keep other accounts in good standing.
Can I cancel over the phone or do I have to go to a branch?
You can cancel entirely over the phone by calling 1-877-825-3242. Credit One Bank is an online bank and does not have physical branches, so phone is your only option. You do not need to mail anything in or visit anywhere.
What if I have a balance I cannot pay right now?
Credit One will not close the account until the balance is paid. If you cannot pay the full amount when ready, you have two options: set up a payment plan with them (call and ask), or wait until you can pay it off. Closing the account does not erase the debt — you will still owe it even after closure.
How long does it take for the closure to show on my credit report?
The account closes when ready when you call, but it can take 30 to 60 days for the closure to appear on your credit report. Check annualcreditreport.com a few weeks after closure to confirm it shows as closed.
Do I need to cut up the card?
No, it is not required. The card stops working when ready after closure, so it cannot be used even if someone finds it. You can cut it up for peace of mind if you want, but it is not necessary.