Are you thinking about saying goodbye to your Bank of America Alaska Airlines credit card? Perhaps the annual fee no longer aligns with your travel habits, or you've found a new card that better suits your needs. Whatever the reason, cancelling a credit card can feel a bit daunting, but with the right steps, it's a smooth process.
This comprehensive guide will walk you through every step of cancelling your Bank of America Alaska Airlines credit card, ensuring you're well-informed and prepared. Let's get started!
Step 1: Assess Your Reasons and Alternatives (Engage the User Here!)
Before you even think about picking up the phone, let's consider why you're cancelling. Is it the annual fee? Are you not traveling with Alaska Airlines as much? Or perhaps you've heard about other cards with better rewards for your spending habits?
Think about it for a moment. Sometimes, there are alternatives to outright cancellation that could save you money or preserve your credit history. Have you considered:
- Downgrading to a no-annual-fee card? Bank of America might offer other credit cards without an annual fee that you could switch to, allowing you to keep your credit line open and maintain your credit history.
- Negotiating the annual fee? If you've been a loyal customer and have a good payment history, it's sometimes possible to call Bank of America and ask if they can waive or reduce the annual fee for the current year.
- Maximizing your current benefits? Before you cancel, make sure you've used up any remaining benefits like the Alaska Airlines Companion Fare, free checked bags, or any unused miles.
If you've thought through these options and cancellation is still the best path for you, then proceed with confidence!
Step 2: Redeem Your Alaska Airlines Miles
This is a critical step you absolutely cannot skip. While your Alaska Airlines Mileage Plan miles are generally tied to your Mileage Plan account and not directly to your Bank of America credit card, it's always best practice to redeem them before you cancel the card. This eliminates any potential for confusion or forfeiture, even if it's unlikely with a co-branded card like this one.
Sub-heading: How to Access and Redeem Your Miles
- Log in to your Alaska Airlines Mileage Plan account: Visit the Alaska Airlines website and log in to your Mileage Plan account.
- Check your mileage balance: Confirm the exact number of miles you have available.
- Explore redemption options:
- Flights: The most common use is for award flights on Alaska Airlines or their partner airlines. Look for flights that maximize your miles' value.
- Upgrades: You might be able to use miles for upgrades on existing bookings.
- Other partners: Explore options with Alaska's hotel and car rental partners, though flight redemptions usually offer the best value.
- Merchandise/Gift Cards (Use with caution): While some programs offer this, the value per mile is typically much lower than for travel.
Pro Tip: Consider booking a speculative trip if you have a significant number of miles and no immediate travel plans. Just ensure you understand the cancellation/change policies for award tickets.
Step 3: Pay Off Your Entire Balance
You cannot cancel a credit card with an outstanding balance. Before you contact Bank of America, ensure your balance is zero. This includes any pending transactions.
Sub-heading: Verifying Your Zero Balance
- Log in to your Bank of America online banking account: Access your credit card statement.
- Confirm all transactions have posted: Make sure there are no "pending" charges that haven't finalized yet.
- Pay the full outstanding balance: If you have any balance, pay it in full. It's often best to pay a slightly higher amount than what's due to account for any last-minute interest accrual.
- Wait for the payment to clear: This can take a few business days. Do not initiate the cancellation process until the payment has fully posted and your balance is officially $0.00.
Step 4: Contact Bank of America Directly
The most reliable way to cancel your Bank of America Alaska Airlines credit card is by phone. While some banks allow online cancellation, it's generally recommended to speak with a representative to ensure the cancellation is processed correctly and to get immediate confirmation.
Sub-heading: Gather Your Information
Before you call, have the following ready:
- Your Bank of America Alaska Airlines credit card number.
- Your personal identification information (e.g., Social Security Number, date of birth, mother's maiden name – whatever they typically use to verify your identity).
- Your desired reason for cancellation. Be prepared for the representative to try and retain your business by offering incentives or alternative card options.
Sub-heading: The Cancellation Call
- Dial the Bank of America Customer Service Number for Credit Cards:
- For general credit card inquiries, you can call 800.732.9194. This number is typically available 24/7.
- Alternatively, you can look for the customer service number specifically listed on the back of your card.
- Navigate the automated system: You'll likely encounter an automated menu. Listen carefully for options related to "account services," "cancellation," or "speaking to a representative." It may take a few tries to get to a live person.
- State your intention clearly: Once connected, politely state that you wish to cancel your Bank of America Alaska Airlines credit card. For example: "Hello, I would like to close my Alaska Airlines Visa Signature credit card account."
- Be prepared for retention efforts: The representative will likely ask for your reason for cancellation and may offer incentives (e.g., waived annual fees, bonus points) to keep you as a customer. If you're firm in your decision, politely decline. You can say something like, "Thank you for the offer, but I've decided to proceed with the cancellation."
- Confirm zero balance: The representative will likely confirm your current balance. Reiterate that you've paid off your balance in full.
- Request immediate closure: Ask them to close the account immediately.
- Obtain a confirmation number: This is crucial. Ask for a confirmation number or a reference ID for the cancellation. Write it down immediately.
- Ask for a confirmation email/letter: Request that Bank of America send you a written confirmation of the account closure to your mailing address or email.
- Confirm the effective date: Ask for the exact date the account will be officially closed.
Important Note on Timing: It's generally recommended to cancel a credit card after the annual fee posts if you want to try and get it refunded. Many banks have a grace period (e.g., 30-60 days) where they will refund the annual fee if you cancel the card. Check your card's terms and conditions or ask the representative about this policy.
Step 5: Verify Account Closure and Monitor Your Credit
Your work isn't quite done after the call. It's essential to follow up and ensure the cancellation has been properly processed and doesn't negatively impact your credit score unexpectedly.
Sub-heading: Confirming the Closure
- Check your online banking: After a few business days (or within the timeframe the representative provided), try logging into your Bank of America online banking. The Alaska Airlines credit card account should no longer be active or visible.
- Look for the confirmation: Keep an eye out for the confirmation email or letter you requested from Bank of America.
- Shred your card: Once you've confirmed the account is closed, cut up your physical card (and any authorized user cards) into small pieces to prevent fraud.
Sub-heading: Monitoring Your Credit Report
- Obtain your free credit report: You're entitled to a free credit report from each of the three major credit bureaus (Experian, Equifax, and TransUnion) once a year via AnnualCreditReport.com.
- Check your report within 1-2 billing cycles: Verify that the Bank of America Alaska Airlines credit card appears as "closed by grantor" or "closed by consumer" and that there's no outstanding balance.
- Understand the credit score impact: Closing a credit card can sometimes have a minor, temporary impact on your credit score, especially if it was one of your oldest accounts or if it significantly lowers your overall available credit. However, a single closed account, especially if you have other healthy credit lines, usually doesn't cause significant long-term damage.
Step 6: Update Automatic Payments
If you had any recurring subscriptions, utility bills, or other automatic payments tied to your Bank of America Alaska Airlines credit card, you must update them with a new payment method. Failure to do so will result in failed payments and potentially late fees from those merchants.
Sub-heading: Identifying and Updating Automatic Payments
- Review past statements: Go through your last few credit card statements to identify any recurring charges.
- Contact merchants directly: Update your payment information with each merchant.
- Set reminders: If you have many, set reminders to ensure you've caught them all.
Frequently Asked Questions (FAQs)
Here are 10 related FAQ questions, all starting with "How to," with quick answers:
How to check if my Alaska Airlines miles will expire? Alaska Airlines Mileage Plan miles generally do not expire, but your account can become "inactive" after two years without activity. If this happens, you can call Guest Care to reactivate it, and your miles will still be there.
How to avoid an annual fee on my Bank of America Alaska Airlines credit card? You can try calling Bank of America's retention department to request a fee waiver or reduction, especially if you're a loyal customer. Alternatively, you might be able to downgrade to a no-annual-fee Bank of America card.
How to know if cancelling my credit card will hurt my credit score? Closing a credit card can slightly impact your credit score by reducing your overall available credit and potentially shortening your average age of accounts. The impact is usually minor if you have other credit lines and a good payment history.
How to get a confirmation of cancellation from Bank of America? When you call to cancel, explicitly ask the representative for a confirmation number and request that a cancellation letter or email be sent to you.
How to deal with a remaining balance after cancelling my card? You cannot cancel a credit card with an outstanding balance. You must pay the entire balance in full before Bank of America will close the account.
How to find the customer service number for Bank of America credit cards? The primary customer service number for Bank of America credit cards is 800.732.9194. You can also usually find it on the back of your physical credit card.
How to ensure all automatic payments are updated after cancellation? Review your last few credit card statements to identify recurring charges, then contact each merchant directly to update your payment information with a new card.
How to redeem my Alaska Airlines Companion Fare before cancelling? The Companion Fare is typically deposited into your Mileage Plan account. Ensure you use it to book an eligible flight before your account anniversary if a new fee is due, or before you cancel.
How to check my credit report after cancelling a card? You can obtain a free copy of your credit report from each of the three major bureaus (Experian, Equifax, TransUnion) once a year at AnnualCreditReport.com. Check it within 1-2 billing cycles after cancellation.
How to decide between downgrading and cancelling my Alaska Airlines credit card? Consider your long-term financial goals. Downgrading keeps your credit line open, potentially preserving your credit score, while cancellation is a clean break if you truly no longer need the card or its benefits.
