So, you're considering closing your American Express account. Whether it's a credit card, charge card, or another type of account, the process requires a few crucial steps to ensure a smooth transition and avoid any unexpected issues. This comprehensive guide will walk you through everything you need to know.
Step 1: Evaluate Your Reasons and Alternatives
Before you pick up the phone or draft that letter, let's take a moment to reflect. Why exactly are you looking to close your American Express account? Is it the annual fee, a change in spending habits, or simply a desire to simplify your finances? Understanding your motivation can help you decide if closing the account is truly the best option.
Sub-heading: Consider the Impact on Your Credit Score
Closing a credit card, especially an older one or one with a high credit limit, can temporarily impact your credit score. This is because it can:
Decrease your overall available credit: If your total credit limit goes down, your credit utilization ratio (how much credit you're using compared to what's available) might go up, which can negatively affect your score.
Shorten your credit history: The length of your credit history is a factor in your credit score. Closing an old account removes that history from your active accounts, though it will remain on your report for several years.
Sub-heading: Explore Alternatives to Closure
American Express offers various options that might be more suitable than outright closure:
Product Change/Downgrade: Can you switch to a card with a lower or no annual fee, or one that better suits your current needs? This keeps your account history intact.
Temporary Suspension: If you're not using the card but might in the future, you might be able to suspend it temporarily (though this is less common for credit cards).
Retention Offers: If the annual fee is your concern, try calling Amex to see if they'll offer you a retention bonus (e.g., statement credit, bonus points) to keep your account open. Many cardholders have success with this!
Step 2: Settle Your Affairs and Prepare for Closure
Once you're certain about closing your account, there are a few important preparatory steps you must take. Skipping these could lead to forfeiture of rewards or lingering debt.
Sub-heading: Pay Off Your Balance in Full
This is non-negotiable. American Express will not close an account with an outstanding balance. Even if you're closing a charge card, ensure all charges are paid.
Outstanding Balance: Make sure your balance is completely paid down to zero. This includes any pending transactions or EMIs (Equated Monthly Instalments).
Interest Accrual: If you have a credit card and pay off the principal but close the account immediately, interest might still accrue on recent purchases. Ensure you've accounted for all potential interest.
Sub-heading: Redeem Your Membership Rewards Points (or Transfer Them!)
Do not forget your points! If you close your American Express account without redeeming or transferring your Membership Rewards points, you will forfeit them.
Redemption Options: Redeem your points for statement credits, gift cards, travel, or merchandise.
Transfer to Airline/Hotel Partners: This is often the most valuable option. You can transfer your points to a wide array of airline and hotel loyalty programs like Emirates Skywards, Delta SkyMiles, Hilton Honors, and many more.
Important Note: If you have another American Express card that also earns Membership Rewards, your points might be pooled, and you may not lose them upon closing one specific card. However, it's always best to confirm with Amex. If the card you're closing is your only Membership Rewards earning card, you typically have about 30 days from the account closure date to redeem them, but transferring them before closing is safer.
Sub-heading: Cancel Automatic Payments and Subscriptions
Remember any services or bills you have set up for auto-payment using this Amex card?
Update Billing Information: Contact merchants (e.g., streaming services, utility providers, gym memberships) and update your payment information to a different card or bank account. Failure to do so could result in missed payments and service interruptions.
Step 3: Contact American Express to Initiate Closure ✉️
Now that you've prepared, it's time to formally request the closure. American Express offers a few ways to do this.
Sub-heading: Closing by Phone (Recommended)
This is generally the easiest and most direct method. You can speak directly with a representative, confirm details, and address any questions or offers they might have.
Find the Number: The best number to call is usually on the back of your American Express card. Alternatively, you can typically find it on their official website under "Contact Us" or "Customer Service." For general inquiries or cancellation, you might use 1-800-446-6307 (for US accounts). If you're outside the US, you can call collect at 1-336-393-1111.
State Your Intent: Clearly inform the representative that you wish to close your account.
Provide Information: Be prepared to verify your identity with your account number, name, address, and potentially other security questions.
Listen to Offers (Optional): The representative might try to retain you by offering benefits or fee waivers. This is your chance to consider if any of these offers change your mind.
Request Confirmation: Ask for a confirmation number or, even better, a written confirmation of the account closure. Note the name and employee ID of the representative you speak with.
Sub-heading: Closing via Online Chat
Some American Express platforms (especially for business accounts or within the online banking portal) offer a live chat function.
Log In: Access your American Express account online.
Find the Chat Option: Look for a "Chat" button, often located in the bottom right corner of the screen or within the "Contact Us" section.
Initiate Chat: Inform the chat representative that you want to close your account.
Verify and Confirm: Be ready to provide verification details and request confirmation of the closure.
Sub-heading: Closing by Mail
While possible, this method is less immediate and can take longer for the request to be processed.
Draft a Letter: Clearly state your intention to close your American Express account. Include:
Your full name
Your complete mailing address
Your American Express account number(s)
A clear statement requesting the closure of your account.
Your signature
Mail to the Correct Address: Send your letter to the appropriate American Express mailing address. For US accounts, a common address is:
American Express
PO Box 981535
El Paso, TX 79998
Keep Records: Send the letter via certified mail with a return receipt requested so you have proof of delivery.
Step 4: Follow Up and Monitor Your Account vigilant
The closure process isn't always instantaneous. It's vital to follow up and monitor your credit report to ensure the account is correctly closed.
Sub-heading: Expect a Final Statement
Even after you request closure, you might receive one final statement from American Express. This statement will typically show a zero balance (if you paid it off) or any remaining interest/fees that accrued before the official closure.
Sub-heading: Monitor Your Credit Report
It can take up to 3 months for a closed account to reflect on your credit report.
Check Regularly: Access your credit reports from all three major credit bureaus (Experian, Equifax, TransUnion) periodically to confirm the account is marked as "closed by grantor" or "closed by consumer" with a zero balance.
Dispute Errors: If you notice any discrepancies or if the account isn't closed as requested after a reasonable time, contact American Express immediately to resolve it.
Sub-heading: Retain Confirmation Documents
Keep any confirmation numbers, letters, or emails related to your account closure in a safe place. This documentation will be invaluable if any issues arise later.
Frequently Asked Questions (FAQs)
How to Check My American Express Account Balance Before Closing?
You can check your American Express account balance by logging into your online account, using the Amex mobile app, or by calling the customer service number on the back of your card.
How to Redeem My Membership Rewards Points Online?
To redeem Membership Rewards points, log into your American Express online account, navigate to the "Membership Rewards" section, and choose your preferred redemption option (e.g., statement credit, gift cards, travel).
How to Transfer American Express Points to Airline Partners?
Log into your Membership Rewards account, select "Transfer Points to Partners," choose your desired airline or hotel loyalty program, link your respective accounts, and then specify the number of points you wish to transfer.
How to Find the Customer Service Number for American Express?
The primary customer service number for your specific American Express card is typically printed on the back of your card. General contact numbers can also be found on the American Express official website under "Contact Us."
How to Get a Confirmation of Account Closure from American Express?
When speaking with a representative, explicitly request a confirmation number for the closure or ask for a written confirmation to be mailed or emailed to you.
How to See if Closing My Amex Card Affected My Credit Score?
You can monitor your credit score through various credit monitoring services or by requesting free annual credit reports from AnnualCreditReport.com to observe any changes after closing your account.
How to Reopen a Closed American Express Account?
Reopening a closed American Express account is generally not possible once it's officially closed. You would typically need to apply for a new card.
How to Cancel Automatic Payments Tied to My Amex Card?
You must individually contact each merchant or service provider that has your Amex card on file and update your payment method to a different card or bank account.
How to Avoid an Annual Fee When Closing an Amex Card?
If you're closing due to an annual fee, call Amex within 30 days of the fee being charged to your statement. They often offer a refund if you cancel within this timeframe. Alternatively, you can inquire about downgrading to a no-annual-fee card.
How to Deal with an Outstanding Balance if I Still Want to Close My Account?
You must pay off your outstanding balance in full before American Express will process your account closure request. You can make a payment online, via the app, or by phone.
