Call Credit One Bank to cancel, or write to them in writing — either method closes the account, but written confirmation protects you if a dispute arises later
Credit One Bank's customer service number is on the back of your card. Call that number, tell them you want to close the account, and they will process the cancellation over the phone. The entire call usually takes five to ten minutes. If you prefer a paper trail, you can send a written request to Credit One Bank's mailing address — the back of your card or your statement will have it — asking them to close the account and confirm closure in writing.
Before you call or write, pay off your balance completely. Credit One Bank will not close an account with an outstanding balance, and even if they did, you would still owe the debt. If you have a balance you cannot pay in full right now, contact them about a payment plan or settlement before requesting closure.
After you request cancellation, the account closes when ready, but the card itself remains valid for a few days while the system updates. Do not use the card after you have requested closure. Check your credit report 30 to 60 days later to confirm the account shows as closed.
Key Takeaways
- Pay your full balance before calling to cancel — Credit One Bank will not close an account with money owed.
- Call the number on the back of your card or send a written request to their mailing address; written requests create a record of your cancellation date.
- The account closes when ready when you request it, but stop using the card right away to avoid confusion.
- Verify the closure on your credit report within 60 days to confirm the account is marked as closed.
Why you might want to close a Credit One Bank card
Credit One Bank cards carry high annual fees — often $75 to $99 per year — and high interest rates. If you have built credit elsewhere and now have access to cards with lower fees and better terms, closing this card makes financial sense. You are no longer paying for a product that no longer serves you.
Closing the account also removes a monthly temptation to use a card designed to keep you in debt. Credit One Bank's business model depends on cardholders carrying balances and paying interest and fees. If you have moved past that point, closing the account is a clean break.
What happens to your credit score when you close the account
Closing a credit card typically lowers your credit score in the short term because it reduces your total available credit. If this card represents a large portion of your total credit limit, the impact is larger. However, the score recovers over time as you continue to pay other accounts on time.
The long-term effect depends on your overall credit profile. If you have other cards with good payment history and low balances, closing this one card will have minimal lasting impact. If this is one of only two or three cards you own, the effect is more noticeable but still temporary.
Do not keep the card open just to protect your credit score. A card with a $99 annual fee costs you money every year. The score recovery from closing it takes three to six months; the fee costs you money every single year. The math favors closure.
How to handle the account after closure
Once the account is closed, you cannot use the card. Any attempt to charge to it will be declined. If you have set up automatic payments to this card — for a subscription or recurring bill — update those payments to a different card or bank account before you close the account. A failed payment can damage your credit and trigger late fees with the merchant.
Keep the closed card in a safe place for at least one year. If a dispute arises about a charge made before closure, you may need to reference the card number or account details. After one year, you can safely destroy the card by cutting it in half and discarding it.
Do not close the account and then throw the card away without updating your recurring payments. This is the most common mistake people make, and it leads to declined charges and damaged relationships with merchants.
What to do if Credit One Bank refuses to close your account
Credit One Bank is required to close an account when you request it, even if you have a balance. If they tell you they cannot close the account, ask to speak to a supervisor. If the supervisor also refuses, file a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB investigates complaints against banks and can force closure if Credit One Bank is acting unlawfully.
In practice, this almost never happens. Credit One Bank processes thousands of closures every month and has no incentive to fight a customer who wants to leave. If you encounter resistance, it is usually a misunderstanding on the phone — ask the representative to clarify what they mean by "cannot close."
Alternatives if you want to keep a credit card open
If you want to keep a card open for credit history purposes but do not want to pay the annual fee, call Credit One Bank and ask if they will waive the fee. Some cardholders report success with this approach, especially if they have a long payment history with the bank. There is no harm in asking.
If they refuse to waive the fee, you have two real choices: close the account or pay the fee. Keeping a card open specifically to pay a $99 annual fee is not a sound financial decision. Your credit score will recover from closure; your wallet will not recover from paying unnecessary fees year after year.
Frequently Asked Questions
Will closing my Credit One Bank card hurt my credit score?
Yes, but temporarily. Your score will drop in the short term because you have less available credit. The impact is usually 10 to 30 points and recovers within three to six months as you continue to pay other accounts on time. The long-term benefit of not paying a $99 annual fee outweighs the temporary score dip.
Can I reopen the account after I close it?
No. Once you close a Credit One Bank account, you cannot reopen it. If you want a Credit One Bank card again in the future, you would have to explore as a new customer. Most people who close these cards do not want to come back.
What if I have a pending charge on the card when I close it?
Pending charges will post to the account even after closure. You remain responsible for paying them. Close the account only after all pending transactions have posted and cleared, or contact the merchant to cancel the pending charge before you request closure.
Do I need to pay off my balance before closing, or can I close and then pay?
You must pay the balance before or at the time of closure. Credit One Bank will not close an account with an outstanding balance. If you close the account and still owe money, the account will reopen automatically to collect the debt, and you will continue to accrue interest and fees.
How long does it take for the closure to show on my credit report?
The account will show as closed within 30 to 60 days. Check your credit report at annualcreditreport.com to confirm. If it still shows as open after 60 days, contact Credit One Bank to verify the closure was processed.