Canceling a credit card is sometimes intimidating, especially if you don’t know where to begin. While this should be a straightforward process, many companies make it as difficult as possible to keep their customers. While a store credit card is a good investment for some, there might come a time when you’re ready to close your account. If you want to cancel an American Eagle credit card, you’re in the right place.
Jump ahead to these sections:
- How to Cancel Your Own American Eagle Credit Card
- How to Cancel a Deceased Loved One’s American Eagle Credit Card
American Eagle is a popular clothing brand across the nation. Known for its denim and seasonal items, it’s easy to see why so many sign up for its credit card. With special discounts and rewards for frequent customers, this card can add up to a lot of savings. However, if you’re ready to cancel an American Eagle credit card, read through the guide below.
How to Cancel Your Own American Eagle Credit Card
First, canceling your own American Eagle credit card is relatively straightforward. As long as your account is in good standing and you know your information, you should be able to cancel your store credit card with confidence.
1. Use your reward points
Before you cancel your own American Eagle credit card, check to see if you have any reward points. Any unredeemed rewards are at risk if you close your account. In addition, the representative you speak to later might not mention these rewards.
Known as the Real Rewards Credit Card, you earn 2x points on everyday things with your credit card. If you want to apply these toward any future purchases, now is the time to redeem them. You can apply these to a new or past purchase, redeem them for store credit, and so on. When in doubt, review your card terms to learn how to best leverage your account benefits.
2. Pay or transfer your balance
Next, you can’t close a credit card completely until you pay the balance. Even if you pay the full amount on your last statement, you could have a balance remaining after if the card issuer charges interest. Double-check your remaining balance to make sure it’s completely paid before you start the cancellation process.
Another idea if you’re unable to pay the full balance is to transfer your balance or use a consolidation loan. You can typically get a better rate than a store credit card on a balance transfer, and this pays your credit card completely.
3. Contact customer service
When you’re ready to close your card, the only way to do so is by calling customer service. This number is listed on the back of your Real Rewards credit card. When you call, let the representative know you want to close your account. They might attempt to keep you as a customer, but be firm.
During this process, you’ll need to verify your identity with your account information, social security number, and full name. Have this ready to go before you start your call. You might need to send a written confirmation as well, though this isn’t very common nowadays.
4. Destroy your cards
Finally, make sure you destroy your credit card. This includes any authorized user cards that were associated with your account. If you have your account information saved on a password manager, delete this as well. If you’re not sure how to destroy or shed your card securely, mail it to the lender. In general, a shredder or good pair of scissors is more than enough.
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5. Keep an eye on your account information
Last but not least, continue to check your account statement and credit report. It can take up to 90 days for your account information to change, and this is something you should keep an eye on for your records.
While most accounts are closed without issue, things can sometimes go wrong. Many financial experts recommend sending your request in writing in addition to speaking to someone over the phone.
While optional, it’s helpful to have a paper trail. The most important step is to keep a close eye on your credit report, new accounts in your name, and any lingering balance. In some cases, you might still owe a balance on your account even after it’s closed.
How to Cancel a Deceased Loved One’s American Eagle Credit Card
Are you wondering what to do when someone dies? These next steps can be tricky, but it’s important to account for their financial wellness. Closing credit cards is part of your executor duties. Here’s how to cancel a deceased loved one’s American Eagle credit card.
1. Organize your key documents
After a death, it’s important to have steps in place to stay organized. There are a lot of different documents to juggle, and you’ll need to prove your identity to close a loved one’s account after their death. Beyond knowing how to get a death certificate, you can also organize your loved one’s financial accounts and bank details.
2. Collect credit cards
Next, collect all credit cards associated with their American Eagle account. Once someone dies, this card is no longer valid. Authorized users can’t use this account anymore, and nobody can use it on behalf of the deceased. Collect all of the cards to avoid fraud or any financial challenges.
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3. Notify their card issuer
It’s essential that you notify the card issuer as soon as possible after a death. The longer you wait, the more likely the account will face late fees or extra interest charges. Call the customer service number on the back of the card for assistance and let the representative know you want to report a death.
4. Follow the verification instructions
From there, you’ll be asked to verify the death of this individual. It’s usually done by submitting a copy of the death certificate, but this is at the discretion of the lender. The representative will clarify what you need to submit, if anything. The account will be closed.
If there’s still a balance on the account, this comes from the estate. It’s never the responsibility of living loved ones to pay for these card balances unless that person is a joint account holder. Otherwise, let the estate take care of it.
5. Destroy cards
As mentioned above, it’s illegal and fraudulent to use any credit cards associated with the deceased. This means you need to destroy these cards once you’ve closed the account. Make sure you have all cards (including associated account users) and shred them safely. Alternatively, you can mail them to the lender for disposal.
Unfortunately, there are many scammers who target the recently deceased. This means they might open new accounts or lines of credit in your loved one’s name. To avoid this, keep their cards safe and away from prying eyes.
6. Keep document copies
Lastly, keep copies of important documents. This includes your loved one’s account statement and other bank details. You want to closely monitor their credit for changes over the next few months, making sure to report anything suspicious. By monitoring their account activity, you ensure their financial legacy is in good standing.
Close Store Credit Cards Quickly
Though there are a lot of reasons why you might open a store credit card, they’re not always the right investment. A store credit card typically comes with a higher interest rate, and it might not be the right financial move long-term. That being said, you can easily cancel your American Eagle credit card in just a few steps.
Before you cancel, consider whether this move will impact your credit. Unfortunately, closing an account can negatively impact your credit rating. Still, it might be the right choice for you. If you’re acting on behalf of a loved one, it might take longer to ensure you have the proper paperwork. It’s important to feel in control when it comes to your finances.