When you don’t know where to start, canceling a credit card can be intimidating. Do you know how to cancel American Eagle credit card?
American Eagle is one of the most well-liked retailers in the nation. It is understandable why so many people sign up for the chain’s credit card given that it is particularly well-known for its jeans and has over 1,300 locations worldwide.
However, if you’re ready to cancel an American Eagle credit card, read through the guide below.
How to Cancel American Eagle Credit Card?
First, canceling your own American Eagle credit card is relatively straightforward. You should be able to cancel your store credit card with confidence as long as your account is in good standing and you are aware of your personal information.
1. Use Your Reward Points
Before you cancel your own American Eagle credit card, check to see if you have any reward points. If you close your account, any rewards that are still unused could be lost. It’s also possible that the representative you speak with later won’t bring up these benefits.
Known as the Real Rewards Credit Card, you earn 2x points on everyday things with your credit card. This is the perfect time to redeem them if you want to use them toward any future purchases.
These can be used as store credit, applied to current or previous purchases, etc. When in doubt, read your card’s terms to find out how to make the most of your account’s benefits.
2. Pay Or Transfer Your Balance
After that, until the balance is paid in full, you cannot completely close a credit card. If the card issuer charges interest, you might still owe money even if you paid the full amount on your last statement.
Before beginning the cancellation procedure, double check your outstanding balance to make sure it has been paid in full.
Transferring your balance or using a consolidation loan are other options if you are unable to pay the entire balance. On a balance transfer, you typically get a better rate than a store credit card, and this fully settles your credit card.
3. Contact Customer Service
The only way to close your card is to contact customer service when you’re ready to do so. Your Real Rewards credit card’s back contains this number.
Inform the operator that you wish to close your account when you call. They might make an effort to keep you as a client, but be firm.
You will be asked for your account information, social security number, and full name during this process to confirm your identity. Prepare this before you begin your call. Though it’s not very common these days, you might also need to send a written confirmation.
4. Destroy Your Cards
Finally, make sure you destroy your credit card. Including here are any cards used by authorized users that were connected to your account. Delete your account information if it is stored on a password manager.
Mail your card to the lender if you’re unsure of how to securely dispose of or destroy it. In most cases, a decent pair of scissors or a shredder will suffice.
5. Keep An Eye on Your Account Information
Last but not least, keep checking your credit report and account statement. Your account information may change after up to 90 days, so you should keep track of it for your records.
While most accounts are closed without incident, mistakes can happen from time to time. In addition to speaking with someone on the phone, many financial experts advise writing your request.
Having a paper trail is advantageous even though it’s not required. The most crucial action is to keep a close eye on any outstanding balances, new accounts opened in your name, and your credit report. It’s possible that even after your account is closed, you may still owe money on it.
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How to Cancel a Deceased Loved One’s American Eagle Credit Card?
Do you ever wonder what to do when someone passes away? Even though these subsequent steps may be challenging, it’s crucial to take their financial stability into consideration.
A responsibility of yours as executor is to close credit cards. How to terminate an American Eagle credit card owned by a deceased loved one.
1. Organize Your Key Documents
It’s crucial to put procedures in place to stay organized after a death. To close a loved one’s account after their passing, you’ll need to juggle a number of different documents and provide identification proof.
2. Collect Credit Cards
Next, gather every credit card linked to their American Eagle account. This card is not usable after someone passes away.
Nobody can use this account on behalf of the deceased, and authorized users are no longer able to use it. To prevent fraud or any other financial difficulties, gather all of the cards.
3. Notify Their Card Issuer
Following a death, you must immediately inform the card issuer. The longer you wait, the more likely it is that the account will incur late fees or additional interest charges.
To report a death, call the customer service number listed on the back of the card and ask for assistance.
4. Follow the Verification Instructions
Your next task will be to confirm this person’s demise. Although the lender has the final say, it is typically done by submitting a copy of the death certificate. If anything needs to be submitted, the representative will make it clear. We’ll close the account.
If there is a balance on the account, it is paid out of the estate. Living relatives should never be held accountable for paying off card balances unless they are joint account holders. Alternatively, let the estate handle it.
5. Destroy Cards
As previously stated, using any credit cards connected to the deceased is unlawful and fraudulent.
This indicates that after closing the account, you must destroy these cards. Make sure you have all cards (including associated account users) and shred them safely. Alternately, you could send them to the lender for destruction via mail.
Unfortunately, a lot of con artists target the recently deceased. This indicates that they might open fresh accounts or credit lines in your loved one’s name. Keep their cards secure and hidden from prying eyes to avoid this.
6. Keep Document Copies
Lastly, make copies of important documents. There are also other bank information and the account statement for your loved one included.
Over the coming months, you should closely check their credit for any changes and be sure to report anything suspicious. You can make sure their financial legacy is in good standing by keeping an eye on their account activity.
Takeaway: How to Cancel American Eagle Credit Card
Though there are a lot of reasons why you might open a store credit card, they’re not always the right investment. Since store credit cards typically have higher interest rates, they might not be the best long-term financial choice.
Before you cancel, consider whether this move will impact your credit. Regrettably, closing an account can hurt your credit score.
However, it might be the best option for you. It might take longer to make sure you have the right documentation if you’re acting on behalf of a loved one. It’s crucial to have a sense of control over your finances.
Read More: How to Cancel American Eagle Order?
