Log into your account online or via the Chase app to review your balance and redeem every eligible reward to ensure you do not leave money on the table. Your score relies on several factors, and closing an account can disrupt two of the most critical ones: credit utilization and length of credit history.
Avoid Fees When Closing Your Chase Credit Card: Key Steps to Follow
You must navigate a series of financial checkpoints to ensure the process does not inadvertently damage your credit score or leave you vulnerable to future fees. Use gift cards or statement credits to maximize the value before closure.
Even if you plan to transfer the balance to another card, you must clear the debt with Chase to satisfy the terms of the closure. When you close a card, your total available credit shrinks, which can increase your utilization ratio if you carry balances on other cards, potentially lowering your score.
Avoid Fees When Closing Your Chase Credit Card: Key Steps to Follow
Ask for written confirmation via email or chat transcript and note the date of the call and the name of the representative. Credit utilization measures the percentage of your available credit you are currently using.
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