Table of Contents

How to Close Your Apple Credit Card: A Definitive Guide

So, you’ve decided to part ways with your Apple Card. Maybe you’re streamlining your finances, or perhaps you’ve found a card that better suits your needs. Whatever the reason, closing a credit card account requires careful consideration and a specific process. Let’s dive into the straightforward steps to close your Apple Card the right way. The process is simple, though you’ll have to contact Goldman Sachs.

The short answer: You cannot close your Apple Card online or through the Wallet app. You must contact Apple Card Support via phone or chat to request the closure. Before contacting them, ensure you have a zero balance, meaning you’ve paid off all outstanding charges and that any pending transactions have cleared. Once you contact them, explicitly state your request to close the account.

The Detailed Process of Closing Your Apple Card

Here’s a step-by-step breakdown to ensure a smooth closure:

Pay Off Your Balance Completely: This is paramount. You cannot close your Apple Card with an outstanding balance. Log into your Wallet app and pay the entire amount due. Double-check that all transactions have been processed and nothing is pending.
Redeem Any Apple Cash Rewards: Before closing the account, ensure you’ve redeemed any Apple Cash balance accumulated through Daily Cash rewards. You can transfer it to your bank account, use it for Apple purchases, or send it to someone via iMessage. Leaving it in the account means you will forfeit the cash once the account closes.
Contact Apple Card Support: This is where the actual closure request happens. You have two primary options:
- Phone: Call Apple Card Support at 1-877-255-5923. This is often the quickest way to speak to a representative directly.
- Chat: Open the Wallet app, tap on your Apple Card, tap the three dots in the upper-right corner, and then select “Message” to start a chat with an Apple Card Specialist.
Clearly State Your Intent: Once connected, clearly state that you want to close your Apple Card account. Be prepared to answer a few questions about your reasons for closing.
Confirm the Closure: After the representative processes your request, confirm that the account is officially closed. Ask for written confirmation, if available, or note the date and time of the call, along with the representative’s name, for your records.
Monitor Your Credit Report: After a month or two, check your credit report to ensure the account is reported as closed. You can obtain free credit reports from annualcreditreport.com. This helps prevent any potential identity theft or reporting errors.

Understanding the Implications of Closing Your Apple Card

Closing a credit card, even one you don’t use frequently, can have consequences. Here’s what you need to be aware of:

Impact on Credit Score: Closing a credit card can affect your credit score, particularly your credit utilization ratio. This is the amount of credit you’re using compared to your total available credit. If the Apple Card represents a significant portion of your available credit, closing it could increase your credit utilization and potentially lower your score.
Loss of Credit History: The Apple Card contributes to your overall credit history. Closing it removes that positive history from your report over time.
Consider the Age of the Account: Older credit accounts generally have a more positive impact on your credit score. If your Apple Card is one of your older accounts, think carefully before closing it.

Alternatives to Closing Your Apple Card

Before deciding to close your Apple Card, consider these alternatives:

Lowering Your Credit Limit: Instead of closing the account, you could request a lower credit limit. This can help you manage your spending and potentially reduce the temptation to overspend.
Keeping the Card Open but Unused: If you’re concerned about the impact on your credit score, you could simply keep the card open and unused. Just be sure to monitor it for any unauthorized activity.

Frequently Asked Questions (FAQs) About Closing Your Apple Card

Here are some of the most common questions surrounding the closure of an Apple Card account:

1. Can I close my Apple Card directly through the Wallet app?

No, you cannot close your Apple Card directly through the Wallet app. You must contact Apple Card Support via phone or chat.

2. What happens to my Daily Cash rewards if I close my account?

Any Apple Cash balance will be forfeited if you close your account before redeeming it. Make sure to transfer it to your bank account or use it before initiating the closure process.

3. Is there a fee to close my Apple Card?

No, there is no fee to close your Apple Card.

4. How long does it take to close my Apple Card?

The closure process is usually immediate once you speak with an Apple Card Support representative. However, it may take a billing cycle or two for the account to be fully reflected as closed on your credit report.

5. Will closing my Apple Card hurt my credit score?

Potentially, yes. It can impact your credit utilization ratio and remove a source of available credit, which could negatively affect your score, especially if it’s one of your older accounts or represents a significant portion of your credit limit.

6. Can I reopen my Apple Card after closing it?

While it’s not impossible, it’s generally difficult to reopen a closed credit card account. You would likely need to reapply for the card, and approval is not guaranteed.

7. What information will I need when I contact Apple Card Support to close my account?

Be prepared to verify your identity. You may need to provide your date of birth, Social Security number, or other identifying information.

8. What if I have recurring payments set up on my Apple Card?

Before closing your account, cancel or transfer any recurring payments to another credit card or payment method. Failure to do so could result in missed payments and potentially damage your credit score.

9. What happens if I close my Apple Card and later find a charge I don’t recognize?

Even after closing your account, you can still dispute charges. Contact Apple Card Support to initiate a dispute.

10. Will closing my Apple Card affect my Apple Pay account?

No, closing your Apple Card will not affect your Apple Pay account. You can continue to use Apple Pay with other cards linked to your account.

11. Is there a best time to close my Apple Card?

Consider the impact on your credit score. Avoid closing it right before applying for a loan or mortgage, as it could negatively affect your approval chances.

12. What should I do with the physical Apple Card after closing the account?

Once the account is closed, it’s best to destroy the physical Apple Card by cutting it into pieces, especially through the magnetic strip and chip. This prevents any potential misuse of the card.

Closing a credit card is a significant financial decision. Ensure you weigh the pros and cons carefully before proceeding. Following these steps will help you navigate the process of closing your Apple Card smoothly and efficiently.