Feeling overwhelmed by credit card statements, annual fees, or simply looking to streamline your finances? Deciding to close a credit card, especially one from a major institution like Truist, can be a smart move, but it's crucial to do it correctly to avoid any unforeseen financial hiccups. This comprehensive guide will walk you through every step of the process, ensuring a smooth and hassle-free closure of your Truist credit card.
Thinking of Closing Your Truist Credit Card? Let's Get Started!
Before we dive into the nitty-gritty, let's take a moment. Are you absolutely sure you want to close this card? Sometimes, there are alternatives to outright cancellation, such as product changes to a no-annual-fee card, or simply reducing your usage. However, if you've weighed your options and decided closing is the right path for you, then let's proceed with confidence!
Step 1: Preparation is Key – Gather Your Information and Understand the Impact
This initial phase is all about getting your ducks in a row. A little foresight here can save you a lot of headaches later.
Sub-heading: Verify Your Card Details and Outstanding Balance
- Locate your Truist credit card: Have the physical card handy, as you'll need the card number, expiration date, and security code.
- Check your current balance: Log in to your Truist online banking account or check your most recent statement. It's imperative to know the exact amount you owe. Ideally, you want to pay off the entire balance before initiating the closure process.
- Identify any pending transactions: Make sure no recent purchases are still pending. These need to clear before you can pay off the full balance.
Sub-heading: Redeem Any Outstanding Rewards
- Truist Rewards Program: If your Truist credit card earns rewards (cash back, points, miles), now is the time to redeem them. According to Truist's policies, unredeemed rewards are often forfeited upon account closure. Don't leave money on the table!
- You can typically redeem rewards through Truist Online Banking or by calling the Truist Rewards Service Center at 1-800-255-7125. Be sure to check your specific card's reward terms and conditions for details on redemption options and expiration policies.
Sub-heading: Understand the Potential Impact on Your Credit Score
Closing a credit card can have an impact on your credit score, both positively and negatively, depending on various factors.
- Credit Utilization Ratio: This is the amount of credit you're using compared to your total available credit. Closing a card reduces your total available credit, which can increase your utilization ratio and
potentially lower your score. This effect is more pronounced if the card you're closing has a high credit limit or if you carry balances on other cards. - Length of Credit History: Your credit score benefits from a long credit history. If the Truist card you're closing is one of your oldest accounts, closing it could shorten your average credit age, negatively impacting your score.
- Credit Mix: Having a variety of credit accounts (credit cards, loans, mortgages) can be beneficial for your score. Closing a card might slightly alter your credit mix.
Consider these points carefully. If you're planning to apply for a loan (mortgage, auto loan) in the near future, it might be advisable to postpone closing the card until after your loan application is approved.
Step 2: Pay Off Your Entire Balance
This is a critical step. Truist will not close an account with an outstanding balance, and leaving a small balance can lead to unexpected fees and negatively impact your credit.
Sub-heading: Make the Final Payment
- Pay the full amount: Ensure you pay off the entire outstanding balance, including any accrued interest or fees.
- Allow time for payment to post: Payments can take a few business days to process and reflect on your account. Do not initiate the closure request until you've confirmed the balance is $0.00.
Step 3: Contact Truist Customer Service
The most direct and recommended way to close your Truist credit card is by contacting their customer service department.
Sub-heading: Prepare for the Call
- Have your information ready: Your full name, account number, date of birth, and possibly your Social Security Number will be needed for verification.
- Be clear about your intent: State clearly that you wish to close your credit card account.
- Be prepared for retention efforts: Truist may try to offer incentives (e.g., lower interest rates, waived annual fees, bonus rewards) to keep you as a customer. Be firm but polite if you're set on closing the account.
Sub-heading: The Phone Call Process
- Dial the Truist Credit Card Customer Service Number: The primary number for Truist credit card support is 844-4TRUIST (844-487-8478). This number is typically available Monday through Friday, 8 am to 8 pm ET, and Saturday, 8 am to 5 pm ET, with 24-hour automated assistance.
- Navigate the automated system: Listen carefully to the prompts and select the option for credit card services or account inquiries. You may need to press a number to speak with a representative.
- Speak to a representative: Once connected, clearly state, "I would like to close my Truist credit card account ending in [last four digits of your card number]."
- Confirm a zero balance: The representative will likely verify your current balance. Confirm that it is $0.00. If there's any remaining balance, they will guide you on how to pay it off.
- Request confirmation: Crucially, ask the representative to send you a written confirmation (either via email or mail) that your account has been closed with a zero balance. This serves as your official record. Note down the representative's name and a reference number for the call, if provided.
- Cancellation Date: Ask for the exact date the account will be officially closed.
Sub-heading: Alternatives (Less Recommended)
While calling is the most effective, some banks might allow written requests or online closure for certain accounts. However, for a credit card, a direct phone conversation is highly recommended for immediate confirmation and to address any potential issues.
- Written Request: You could send a written request to Truist's corporate address. Include your full name, address, credit card number, and a clear statement of your intent to close the account. However, this method is slower and less reliable for immediate confirmation.
- Online/App: Some basic account management is available through the Truist online banking portal or mobile app, but a full credit card closure typically requires a phone call.
Step 4: Secure Confirmation and Monitor Your Account
Don't consider the process complete until you have official confirmation.
Sub-heading: Receive Written Confirmation
- Await confirmation: Truist should send you a confirmation email or letter stating that your credit card account has been closed and has a zero balance. Keep this document for your records.
- Follow up if necessary: If you don't receive confirmation within 7-10 business days, call Truist again using the same customer service number and refer to your previous call's reference number (if you have one).
Sub-heading: Monitor Your Credit Report
- Check your credit report: Approximately 30-60 days after closing the card, obtain a free copy of your credit report from all three major credit bureaus (Experian, Equifax, and TransUnion) via AnnualCreditReport.com.
- Verify the closure: Ensure that the Truist credit card account is reported as "closed by grantor" or "closed by consumer" with a zero balance.
- Dispute any discrepancies: If you find any inaccuracies or if the account still shows an active balance, contact Truist immediately to rectify the error and dispute it with the credit bureaus.
Step 5: Securely Dispose of Your Physical Card
Once you have received confirmation of closure and verified it on your credit report, it's time to safely dispose of the physical card.
Sub-heading: Destroying the Card
- Shredding: The most secure method is to use a cross-cut shredder that can handle credit cards.
- Cutting: If you don't have a shredder, cut the card into multiple small pieces, ensuring the chip, magnetic stripe, and account number are completely destroyed. Spread the pieces across different trash bins to further minimize risk.
Step 6: Update Automatic Payments (If Applicable)
If you had any recurring subscriptions or bill payments linked to your Truist credit card, remember to update them to a new payment method. Otherwise, these payments will fail, potentially leading to missed payments or service interruptions.
Related FAQ Questions
Here are 10 frequently asked questions about closing credit cards, particularly relevant to Truist:
How to check my Truist credit card balance?
You can check your Truist credit card balance by logging into your Truist online banking account, using the Truist mobile app, or by calling Truist customer service at 844-4TRUIST (844-487-8478).
How to redeem Truist credit card rewards?
You can typically redeem Truist credit card rewards through the Truist Online Banking portal, the Truist Mobile Banking App, or by calling the Truist Rewards Service Center at 1-800-255-7125. Ensure you redeem them before closing your card as they are often forfeited upon closure.
How to contact Truist credit card customer service?
The primary customer service number for Truist credit cards is 844-4TRUIST (844-487-8478). They also offer 24-hour automated assistance.
How to get confirmation of Truist credit card closure?
When you call to close your card, request a written confirmation (email or physical mail) that your account has been closed with a zero balance. Note down the representative's name and call reference number.
How to know if closing a Truist credit card will hurt my credit score?
Closing a credit card can hurt your credit score by increasing your credit utilization and shortening your average credit history, especially if it's an old card with a high limit. Evaluate these factors before closing.
How to dispose of a closed Truist credit card securely?
After confirming closure, shred the card with a cross-cut shredder or cut it into many small pieces, ensuring the chip, magnetic stripe, and account number are completely destroyed.
How to update automatic payments linked to my Truist credit card?
Before closing, review all services and subscriptions linked to your Truist credit card and update your payment information with an alternative card or bank account to avoid service interruptions.
How to get a copy of my credit report after closing the card?
You can get a free copy of your credit report once every 12 months from each of the three major credit bureaus (Experian, Equifax, and TransUnion)
How to dispute an error on my credit report after closing a Truist credit card?
If you find any inaccuracies on your credit report regarding the closed Truist card, first contact Truist directly to resolve the issue. If needed, you can then dispute the information with the respective credit bureau.
How to avoid annual fees on a Truist credit card without closing it?
You can sometimes avoid annual fees by contacting Truist customer service and asking if they offer a product change to a no-annual-fee card. This allows you to keep the credit line open and preserve your credit history.
