How Do I Cancel My Fifth Third Bank Credit Card?

How Do I Cancel My Fifth Third Bank Credit Card?

Fifth Third Bank provides customers with ways to cancel their bank credit card. You may want to cancel your Fifth Third Bank credit card for a number of reasons. Doing so without taking the proper precautions may result in penalties and a loss of lucrative rewards. It is important that you gather as much info as you can about the cancellation of your Fifth Third bank credit card. Below are some tips on how to cancel your Fifth Third Bank credit card:

Tips on How to Cancel a Fifth Third Credit Card

There are specific steps you need to take if you want to make sure that your credit card is cancelled the right way. Below is what you need to do in order to get it cancelled:

1. Be Sure That You Want to Do It

Canceling a credit card may not be a good idea as it can affect your credit score, which may impact your chances of accessing credit in the future. If you have a credit card with no yearly fees, there is no reason for you to close it. If you are incurring expenses on the card, it may be best to call the Fifth Third customer service team to switch to a credit card that does not have annual fees.

2. Pay Any Balance

Before you cancel the card, make sure any remaining balance has been paid in full. This way, you are less likely to forget about it or get penalized. It may also be best to get a balance transfer before cancellation. After paying the balance, remember to update any subscriptions or automated payments and switch to a new card.

3. Redeem the Rewards

The rewards on your credit card are usually forfeited upon cancellation. It is advisable that you transfer or redeem your rewards so that you do not miss out on fully deserved rewards. Also go through the fine print that comes with your card to fully understand the terms of redemption.

4. Contact Your Bank

After paying off the balance and redeeming your rewards, you can start the process of cancelling your credit card. Call the customer care desk of the Fifth Third bank. Before requesting the closure of your account, verify that you have no balance. Then, notify the representative that you are interested in closing your account permanently.

You may get retention offers to stop you, but it is a personal decision. Also ask them to note that the account is closing as a personal request from you to make sure that it doesn't look like it got closed by default. Always get vital details such as the time and date you made the request, the name of the representative you spoke to, and an address you can use to mail a written cancellation letter. Make sure you send the letter in case of a computer error and request for confirmation that the card was cancelled with zero balance.

5. Destroy the Old Card

After cancelling your Fifth Third Credit card, you can easily destroy it by using a shredder or cutting it into small pieces. Metallic cards can be mailed back to the bank via a prepaid envelope for safe disposal.