How To Cancel Your Amazon Credit Card: A Veteran’s Guide

Canceling a credit card, even one tied to a behemoth like Amazon, is a straightforward process, but it’s a decision you should approach with careful consideration. The short answer is: You can cancel your Amazon credit card by contacting Chase (the issuer) either online, by phone, or by mail. Before you take the plunge, let’s delve into the nitty-gritty details and explore the potential ramifications. This guide will not only walk you through the cancellation process but also equip you with the knowledge to make an informed decision.

Understanding the Cancellation Process

Chase, as the issuer of Amazon’s credit cards (both the Prime and non-Prime versions), handles the cancellation process. Here’s a breakdown of your options:

Canceling Online

This is often the most convenient method, though it might not always be available.

1. Log into your Chase account: Head to the Chase website and log in using your credentials.
2. Navigate to your credit card account: Find your Amazon credit card in your list of accounts.
3. Look for the “Secure Message Center” or “Contact Us” option: The exact location varies depending on Chase’s website layout, but you’re looking for a way to send a secure message.
4. Send a cancellation request: Draft a message clearly stating your intention to cancel your Amazon credit card. Include your name, account number, and the reason for cancellation (optional, but helpful for Chase).
5. Wait for confirmation: Chase will typically respond within a few business days to confirm the cancellation. Keep an eye on your email and Chase account for updates.

Canceling by Phone

This is a direct and often faster method, especially if you have questions or concerns.

1. Call Chase Customer Service: Find the phone number on the back of your credit card or on Chase’s website. The general customer service number is usually a good starting point.
2. Identify Yourself: Have your credit card number and other identifying information (like your Social Security number) ready.
3. Request Cancellation: Clearly state that you want to cancel your Amazon credit card.
4. Answer Security Questions: Be prepared to answer security questions to verify your identity.
5. Confirm Cancellation: Ensure you receive verbal confirmation that the card has been canceled and ask for a cancellation confirmation number for your records.

Canceling by Mail

This is the least convenient method, but it provides a paper trail.

1. Draft a Letter: Write a formal letter stating your intention to cancel your Amazon credit card. Include your name, account number, address, and a clear statement requesting cancellation.
2. Sign the Letter: Ensure you sign the letter to authenticate your request.
3. Mail the Letter: Send the letter to the address provided on your credit card statement or on Chase’s website. It’s recommended to send it via certified mail with return receipt requested to confirm delivery.
4. Follow Up: Allow several weeks for processing and follow up with Chase customer service by phone to confirm cancellation.

Important Considerations Before Canceling

Before you hit that cancellation button, consider these crucial factors:

• Rewards Points: What will happen to your accumulated Amazon Rewards points? Will you lose them? You typically have a grace period to redeem them, so check your card’s terms and conditions.
• Credit Score Impact: Canceling a credit card can affect your credit score, particularly if it’s one of your oldest accounts or has a high credit limit.
• Alternative Uses: Could you repurpose the card for a specific type of purchase or use it sparingly to keep the account active and maintain your credit history?
• Annual Fee: Is the annual fee the primary reason for cancellation? Consider asking Chase if they can waive the fee or offer a product change to a card with no annual fee.
• Spending Habits: Are you canceling because you’re struggling with debt? Consider other options like budgeting, balance transfers, or credit counseling.

Understanding The Consequences of Card Cancellation

It’s essential to understand the potential consequences that can arise from canceling your Amazon credit card, especially how it could affect your credit score and overall financial health.

• Impact on Credit Utilization Ratio: Canceling a card reduces your overall available credit, which can increase your credit utilization ratio. Ideally, you want to keep this below 30% of your available credit. Higher utilization can negatively impact your credit score.
• Loss of Credit History: Closing older accounts can shorten your credit history, a factor that influences your credit score. If your Amazon card is one of your older accounts, be mindful of this.
• Closure Fees (Rare): While uncommon, some cards may have early closure fees if you close them within a certain timeframe of opening. Check your cardholder agreement.
• Loss of Benefits: Obviously, you lose the benefits associated with the card, such as purchase protection, travel insurance, and, of course, Amazon Rewards points earning potential.

FAQs: Your Burning Questions Answered

Here are 12 frequently asked questions to help you navigate the cancellation process with confidence:

1. Will canceling my Amazon credit card hurt my credit score?

It might. The impact depends on factors like your credit utilization, credit history length, and overall credit profile. If it’s an old card with a high credit limit, cancellation could negatively impact your score.

2. What happens to my Amazon Rewards points if I cancel my card?

Typically, you have a grace period to redeem your points before they expire. Check your card’s terms and conditions for specifics. It’s wise to redeem them before canceling.

3. Can I cancel my card if I have a balance?

Yes, but you’re still responsible for paying off the remaining balance according to the card agreement. Chase will likely continue to send statements until the balance is cleared.

4. How long does it take for the cancellation to be processed?

Online and phone cancellations are usually processed within a few business days. Mail cancellations may take longer, up to several weeks. Always confirm the cancellation with Chase.

5. Can I reopen my Amazon credit card after canceling it?

It’s unlikely you can reopen the same account. You’d typically need to apply for a new card and go through the application process again, which may not guarantee approval.

6. Can Chase refuse to cancel my card?

No, they cannot refuse a cancellation request. However, they may try to persuade you to keep the card by offering incentives or explaining the potential impact on your credit score.

7. What if I have authorized users on my card?

Canceling the card will terminate the authorized user’s access to the account. Inform them of your intention to cancel.

8. How do I know for sure that my card is canceled?

Confirm with Chase customer service after you’ve initiated the cancellation process. Request a written confirmation for your records. Also, monitor your credit report to ensure the account is reported as closed.

9. Can I cancel my card online if I don’t have a Chase online account?

No. You need a Chase online account to cancel online. If you don’t have one, you’ll need to use the phone or mail method.

10. What if I lost my Amazon credit card? Should I cancel it?

Yes, if you lost your card, you should immediately report it to Chase and request a new one. If you’re not planning to use the card, then you can cancel it instead of getting a replacement.

11. Can I cancel my card if it’s frozen because of fraudulent activity?

Yes. You can cancel the card even if it’s frozen. You’ll need to work with Chase to resolve the fraudulent activity and then proceed with the cancellation.

12. Is it better to close or downgrade my Amazon credit card?

It depends on your situation. Downgrading to a card with no annual fee allows you to keep the account open, preserving your credit history and available credit. If you’re determined to close the account, then cancellation is the only option.

Final Thoughts

Canceling your Amazon credit card is a personal decision based on your financial circumstances and goals. By understanding the process, potential consequences, and alternative options, you can make an informed choice that aligns with your overall financial well-being. Remember to always prioritize responsible credit management and maintain a healthy credit profile.