How to Cancel a Credit One Credit Card Before Activating It (2024)

FAQs

How to Cancel a Credit One Credit Card Before Activating It? ›

WalletHub, Financial Company

Bottom line. If you change your mind and don't want a card that you recently opened, it's smarter to call the issuer to cancel the card than just ignoring it. You might get hit with an unexpected annual fee, or the card will be closed because the issuer considers your account inactive.

The Bottom Line. Keeping credit card accounts open for as long as possible is a smart strategy for building and maintaining good credit, especially if you're planning to apply for new credit in the near future.

You can cancel your Credit One credit card application by calling (800) 752-5493 from 5 a.m. to 9 p.m. Pacific Time, Monday - Friday, and 6:30 a.m. to 5 p.m. on Saturday and Sunday. Closing a new credit card account isn't likely to have a major or long-lasting impact on your credit score.

If you're simply cancelling one credit card to apply for another, it may not affect your credit score. You should, however, avoid doing this too frequently as each application appears as an inquiry on your file and can impact your score.

WalletHub, Financial Company

The easiest way to cancel a Credit One card is by calling customer service at (877) 825-3242. Another way to cancel your card is to mail the request. Credit One does not offer an option to cancel online.

Yes, you can cancel your credit card by sending a written letter of request to your credit card company. You will have to note down details like the name of the credit card that needs to be cancelled and then send this to your credit card issuer.

Key Takeaways

Closing a charge card won't affect your credit history (history is a factor in your overall credit score). Closing a credit card could hurt your credit score by increasing your credit utilization if you don't pay off all your balances.

You may be able to cancel a credit card application if it's still pending. But some credit card issuers review online applications in minutes or seconds, so it can be difficult to cancel an application in time. Canceling an application won't affect your credit scores.

If your Credit One Bank credit card is lost or stolen, call Customer Service immediately at 877-825-3242. If you're outside the U.S. call 1-702-405-2042. We will cancel your current card number and issue you a replacement card as soon as possible. What do I do if I see a suspicious transaction on my statement?

Can I cancel a credit card that I just opened? ›

You can't decline a credit card after being accepted, but you can always cancel your new credit card if you don't want the new account. Canceling a new credit line might be the right move if you're worried about going into debt you can't pay off.

Credit card issuers could also see this behavior as a red flag for the future. They can quickly catch on that you are signing up for cards only to earn their bonuses and then canceling in a short amount of time, which will put you at risk of damaging your good credit in the long-run.

Key takeaways: Closing a credit card can hurt your scores because it lowers your available credit and can lead to a higher credit utilization, meaning the gap between your spending and the amount of credit you can borrow narrows. Canceling a card can also decrease the average age of your accounts.

Closing a card immediately after opening it and reopening another card leads to two hard inquiries on your report within a short time. This can lead to your credit score dropping further.

You'll be unable to use your new credit card for purchases or other transactions until you activate it. Additionally, your account may be automatically closed if you don't activate your card within 14 days after you receive it in the mail.

Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.