How to Cancel My Discover Credit Card
Discover credit cards offer a range of benefits and rewards to their users, but there may come a time when you decide it’s time to cancel your card. Whether you have found a better credit card option or simply want to reduce your number of credit cards, canceling your Discover credit card is a straightforward process. Here’s a step-by-step guide on how to cancel your Discover credit card:
1. Pay off your balance: Before canceling your credit card, make sure to pay off any outstanding balance. This will ensure that you don’t incur any additional fees or interest charges.
2. Redeem any rewards: If you have accumulated any rewards on your Discover credit card, it’s a good idea to redeem them before canceling. Discover offers a variety of redemption options, including cash back, gift cards, and travel rewards.
3. Contact customer service: Call Discover’s customer service hotline at 1-800-DISCOVER (1-800-347-2683) to initiate the cancellation process. Be prepared to provide your account information and answer any security questions to verify your identity.
4. Confirm the cancellation: Once you have reached a customer service representative, inform them of your intention to cancel your credit card. They may ask for a reason for canceling, but this step is optional.
5. Cut up and discard your card: After confirming the cancellation, cut up your Discover credit card and dispose of it securely. This will prevent any potential misuse of the card.
6. Confirm the cancellation in writing: While not required, it’s a good practice to send a written confirmation of your cancellation to Discover. This can be done via email or regular mail, stating your account number and the date of cancellation.
7. Monitor your credit report: After canceling your Discover credit card, keep an eye on your credit report to ensure that the cancellation has been accurately reflected. You can request a free credit report annually from each of the three major credit bureaus.
Frequently Asked Questions (FAQs):
1. Will canceling my Discover credit card affect my credit score?
Canceling your credit card may have a temporary negative impact on your credit score, especially if it was one of your oldest credit accounts. However, over time, your score should recover as long as you maintain other credit accounts in good standing.
2. Can I cancel my Discover credit card online?
No, Discover requires you to call their customer service hotline to cancel your credit card.
3. Will I lose my rewards if I cancel my Discover credit card?
No, you can redeem your rewards before canceling your Discover credit card. However, it’s essential to note that some rewards may have expiration dates.
4. Can I reopen a canceled Discover credit card?
In some cases, you may be able to reopen a canceled Discover credit card. Contact Discover’s customer service for more information.
5. Can I cancel my Discover credit card if I still have a balance?
Yes, you can cancel your Discover credit card even if you have an outstanding balance. However, you will still be responsible for paying off the balance.
6. How long does it take to cancel a Discover credit card?
The cancellation process can typically be completed during the call with customer service. However, it’s advisable to monitor your account to ensure the cancellation is processed correctly.
7. Can I cancel my Discover credit card if it’s lost or stolen?
Yes, if your Discover credit card is lost or stolen, contact customer service immediately to report it and request a cancellation and replacement card.
In conclusion, canceling your Discover credit card involves paying off your balance, redeeming any rewards, contacting customer service, and confirming the cancellation. While canceling may have a temporary impact on your credit score, it’s a straightforward process that can be completed over the phone. Remember to cut up and discard your card, monitor your credit report, and send a written confirmation if desired.