Call Credit One's customer service line to request cancellation
To cancel a Credit One card, you call their customer service number on the back of your card and tell them you want to close the account. Credit One will ask you to verify your identity, confirm your account details, and may ask why you're closing it — but they cannot force you to stay. The cancellation takes effect when ready, though the account may show as "closed by cardholder" on your credit report for up to seven years.
Before you call, pay off any remaining balance on the card. Credit One will not cancel an account with an outstanding balance, and you'll continue to owe interest on whatever you leave unpaid. If you have a promotional rate or 0% APR period, that ends the moment the account closes, so any remaining balance reverts to the regular purchase rate.
Write down the date and time you called, the name of the representative you spoke with, and the confirmation number they give you. This creates a record in case there's a dispute later about whether the account was actually closed.
Key Takeaways
- Pay your full balance before calling to cancel, because Credit One will not close an account with money owed.
- Call the number on the back of your card, verify your identity, and ask to close the account — the process takes a few minutes.
- Write down the date, representative name, and confirmation number so you have proof the account was closed.
- Closing the card will lower your available credit, which may raise your credit utilization ratio and temporarily lower your credit score.
- Check your credit report 30 to 60 days later to confirm the account shows as closed; if it doesn't, call back with your confirmation number.
What happens to your credit score when you close the account
Closing a Credit One card removes that available credit from your total credit limit. If you have other cards with balances, your credit utilization ratio — the percentage of your total available credit that you're using — will go up. A higher utilization ratio can lower your credit score by 10 to 50 points, depending on how much of your total credit you were already using.
The account itself stays on your credit report as "closed by cardholder" for seven years. During that time, it continues to show your payment history, which is actually helpful if you paid on time. After seven years, the account falls off your report entirely. The damage to your score is usually temporary; if you keep other accounts in good standing, your score typically recovers within a few months.
If you're concerned about the impact, you can wait to close the card until after you've paid down balances on other cards, or until you've opened a new card with a higher limit. This keeps your utilization ratio lower and softens the score impact.
Settle any disputes or fraud claims before closing
If you have an open dispute with Credit One — a charge you're contesting, a billing error you reported, or suspected fraud — do not close the account until the dispute is resolved. Closing the account can complicate the investigation and may prevent Credit One from refunding you if the dispute is ruled in your favor.
If you spot unauthorized charges on your Credit One statement, report them to Credit One's fraud department before you call to cancel. Credit One has 60 days from the date you report the fraud to investigate and respond. Once you have their written response, you can proceed with closing the account.
Check your credit report after closing to confirm the account is listed correctly
After you close your Credit One card, request a free copy of your credit report from AnnualCreditReport.com, the only site authorized by federal law to provide free reports. You can get one report from each of the three bureaus — Equifax, Experian, and TransUnion — once every 12 months.
Check the report 30 to 60 days after you called to cancel. Look for your Credit One account and confirm it shows a status of "closed by cardholder" or "account closed." If it still shows as open or active, contact Credit One again with your confirmation number and ask them to verify the closure with the credit bureaus. Errors on your credit report can be disputed in writing; each bureau has a process for submitting disputes on their website.
What to do if you want to keep the account but stop using it
You don't have to close the card to stop using it. If you want to keep the account open — to preserve your available credit and protect your credit utilization ratio — you can straightforward stop charging to it. Credit One will not close an inactive account automatically, though some card issuers do after 12 to 24 months of no activity.
If you keep the account open, make a small charge every few months and pay it off in full. This keeps the account active and shows the credit bureaus that you're using credit responsibly. You avoid the score impact of closing the account, and you maintain a backup card if you need it.
Understand the difference between closing and freezing your account
Closing an account and freezing an account are not the same thing. When you close your Credit One card, the account ends and you cannot use it. When you freeze an account, you temporarily suspend it — you can unfreeze it later and use it again. Credit One does not offer account freezing; you can only close or keep the account active.
If you're worried about fraud or unauthorized use, closing is the right move. If you're just taking a break from the card, keeping it open and inactive is safer for your credit score. There is no middle ground with Credit One.
Frequently Asked Questions
Will closing my Credit One card hurt my credit score?
Yes, temporarily. Closing the card lowers your available credit, which raises your credit utilization ratio if you have other balances. This typically causes a 10 to 50 point drop. The impact is usually temporary; your score typically recovers within a few months if you keep other accounts in good standing and pay on time.
What if I have a balance I can't pay off right now?
Credit One will not close the account until the balance is paid in full. You can keep charging and paying as usual, or you can request a lower credit limit to reduce temptation. Once the balance reaches zero, call to close the account.
How long does it take for the account to show as closed on my credit report?
The account usually appears as closed within 30 to 60 days. Check your free credit report from AnnualCreditReport.com to confirm. If it still shows as open after 60 days, call Credit One with your confirmation number and ask them to verify the closure with the credit bureaus.
Can I reopen my Credit One card after I close it?
No. Once you close a Credit One card, that account is permanently closed. You cannot reopen it. If you want a Credit One card again in the future, you would have to open a new account, which means a new hard inquiry and a new account on your credit report.
Do I need to return the physical card after closing?
Credit One does not require you to return the card, but it's a good idea to cut it up or destroy it so it cannot be used. The account is closed on Credit One's system, so the card will be declined if someone tries to use it, but destroying it removes the risk entirely.