How to cancel a Chase credit card

Call Chase at the number on the back of your card and tell them you want to close the account. They will ask why you're leaving and may offer you a better rate or waived fee to stay — you can accept or decline. If you decline, they will process the cancellation. The account closes within a few business days, though it may take longer for the closure to show on your credit report.

Before you call, pay off any remaining balance. Chase will not close an account with an outstanding balance, and you'll keep paying interest until it's gone. If you have a rewards balance you haven't redeemed, redeem it first — you lose any unredeemed points when the account closes.

Canceling a credit card affects your credit score in two ways: your available credit shrinks (which can raise your credit utilization ratio if you carry balances on other cards), and the account's age stops counting toward your credit history length. The impact is usually small if you have other accounts in good standing, but it's worth understanding before you cancel.

Key Takeaways

  • Call the number on the back of your Chase card to request cancellation; they may offer incentives to keep the account open.
  • Pay off your full balance before calling, because Chase will not close an account with money owed.
  • Redeem any rewards points before cancellation, since you lose them when the account closes.
  • Canceling reduces your total available credit, which can raise your credit utilization ratio on other cards you carry balances on.
  • The closed account will stay on your credit report for seven years, still counting toward your credit history length during that time.

What happens to your credit score when you cancel

Your credit score is built from five factors: payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit inquiries (10%). Closing a credit card affects two of these.

First, your available credit shrinks. If you have a $5,000 limit on the Chase card and a $3,000 balance on another card, your utilization ratio is currently 30% ($3,000 divided by $8,000 total available). After you close the Chase card, that same $3,000 balance is now 50% of your available credit ($3,000 divided by $5,000). Higher utilization ratios lower your score, though the effect is temporary — it rebounds as soon as you pay down the other balance.

Second, the account's age stops counting toward your credit history length. If the Chase card is your oldest account and you close it, your average account age drops. This matters less if you have other older accounts, and the closed account itself stays on your report for seven years, still contributing to your history during that time.

The actual score drop from closing one card is usually between 5 and 10 points if you have solid payment history elsewhere. It's larger if the card is your oldest account or if you carry high balances on remaining cards.

Timing: when to cancel before an annual fee hits

Chase charges an annual fee on some cards — typically $95 to $550 depending on the card type. The fee posts on your account anniversary, which is usually the month you opened the card.

If you want to avoid paying the fee, cancel before your anniversary date arrives. You can find your anniversary date by logging into your Chase account online, calling the number on your card, or checking your most recent statement. If the fee has already posted this year, you can sometimes call and ask Chase to reverse it as a one-time courtesy, especially if you've been a customer for several years.

If you're on the fence about keeping the card, some people cancel after the anniversary fee posts, get the fee refunded, and then reopen the card later if they want it back. Chase typically allows you to reopen a closed card within a certain window, though policies vary by card type.

What to do with rewards points before you cancel

Chase rewards come in two forms: points (on cards like the Chase Sapphire Preferred) and cash back (on cards like the Chase Freedom Unlimited). Both are lost when you close the account unless you redeem them first.

Log into your Chase account and go to the rewards section. You can usually redeem points for cash back, statement credits, travel bookings, or gift cards. Cash back redemptions are straightforward — you choose an amount and it posts to your account as a credit or deposit. Travel redemptions and gift cards take a few more clicks but work the same way. Redeem everything before you call to cancel, because once the account closes, you cannot access the rewards portal.

If you have a small balance of points that's not worth redeeming (some cards require a minimum like 100 points), you can sometimes call Chase and ask them to explore it as a statement credit before closing. It's worth asking, but don't count on it.

Paying off your balance before closing

Chase will not close an account that has an outstanding balance. If you have a balance when you call, they will tell you to pay it down first. You can pay online, by phone, or by mail — online is fastest.

After you pay the balance to zero, wait one business day for the payment to post, then call back to request cancellation. If you're carrying a large balance, you might want to pay it down over a few weeks rather than all at once, especially if the card has a low interest rate and you have higher-rate debt elsewhere.

Once the account closes, any remaining balance (if somehow one posts after closure) will still accrue interest and you'll still owe it. The closure doesn't erase debt — it just stops you from using the card.

Alternatives to canceling if you want to keep the account open

If you're canceling mainly because of an annual fee, consider calling Chase first to ask about downgrading to a no-fee version of the same card. Many premium cards (like the Sapphire Preferred) have a no-fee sibling (the Sapphire Preferred has the Sapphire Preferred Visa Signature, though offerings vary). Downgrading keeps the account open and preserves your credit history, but you lose premium benefits like travel insurance or higher rewards rates.

Another option is to keep the card open but stop using it. Put it in a drawer and use another card for everyday purchases. This preserves your available credit and account age without paying an annual fee — though some cards will close inactive accounts after 12 months of no activity, so check your card's terms.

If you're canceling because you want to reduce the number of cards you manage, you could also consolidate by paying off one card and closing it while keeping another open. There's no rule against having multiple cards, but there's also no benefit to keeping a card you never use and don't want to pay for.

What happens after you cancel

After you call and request cancellation, Chase processes it within a few business days. You'll receive a confirmation letter in the mail. The card stops working when ready, though it may take a week or two for the closure to show on your credit report.

The closed account stays on your credit report for seven years. During those seven years, it still counts toward your credit history length, which is why closing old accounts can hurt your score more than closing newer ones. After seven years, the account falls off your report entirely.

If you ever want to reopen the card, you can explore again like a new customer. Chase may approve you when ready or ask you to wait a certain period — policies vary. Reopening counts as a new account, so your average account age resets.

Frequently Asked Questions

Can I cancel my Chase card online or do I have to call?

You must call. Chase does not allow online cancellation through their website or app. Call the number on the back of your card and ask to speak with someone about closing your account. The process takes about 10 minutes.

What if I have a balance I can't pay off right now?

Chase will not close the account until the balance is zero. You can keep the card open and pay down the balance over time, or you can transfer the balance to another card with a lower interest rate and then close this one. Closing an account with an outstanding balance doesn't erase the debt — you still owe it and it still accrues interest.

Will closing my card hurt my credit score?

It usually causes a small temporary drop of 5 to 10 points because your available credit shrinks. The impact is larger if this is your oldest card or if you carry high balances on other cards. The score typically rebounds within a few months as you pay down other balances.

Can I get my annual fee refunded if it already posted?

Sometimes. Call Chase and ask for a one-time courtesy reversal, especially if you've been a customer for several years or if this is your first time asking. They may say yes or no — there's no may provide. If they refuse, you can still cancel the account.

What happens to my rewards points when I close the account?

You lose any unredeemed points. Redeem all your rewards before you call to cancel. Log into your account, go to the rewards section, and convert points to cash back, statement credits, or gift cards. Once the account closes, you cannot access the rewards.