Ever found yourself in a fix while canceling Opensky Credit Card? Whether you are switching to another card company or going forward without it due to any reason, our simple and short guide is here to help you in your process. We are going to provide you with a step-by-step cancellation guide and make sure that you get all the information you need to proceed with your process.
How to Cancel Opensky Credit Card
Here are the steps you need to follow in order to cancel your Opensky credit card without any hiccups.
Step 1: Review Your Account
The first thing you need to do is to review your account fully and observe any pending actions from your side such as outstanding payments or redeeming award points etc.
Step 2: Contact Customer Service
The next step is to contact customer services department. You can do this by simply dialing the helpline number given at the back of your card. Once connected to a customer service agent, let them know that you want to cancel your card.
Step 3: Provide Required Information
You will be asked a series of questions to verify your identity and the ownership of the card. It is advised that you provide all the accurate information to avoid any delays or barriers in your process.
Step 4: Request Cancellation
You will be required to show a clear intent of cancelling you Opensky credit card. You may be asked for a reason behind canceling as it is a requirement in the cancelation request form.
Step 5: Follow Instructions
You are advised to follow all the instructions provided by the customer service agent as they will be guiding you through the whole process right till the end where you are going to physically return the card or cut its chip to destroy it.
Step 6: Confirmation
You may ask for a written confirmation of the cancellation via email to serve as a proof for use in case of any future matters involving the said credit card.
Key Considerations When Cancelling Opensky Credit Card
It is up to you to cancel your credit card at any time you want to but you should keep it in mind that it might affect your overall credit score and your financial position. Here are some things you should keep in mind;
- Impact on Credit Score: Your credit score might be affected because cancelling your card would directly affect your credit utilization ratio.
- Unused Credit: If you are not carrying a balance and your opensky credit card has a high limit, it is advised to keep your card open to increase your utilization ratio.
- Alternative Options: it is always better to explore alternate options before cancelling your card straight away. These options might include downgrading to a lower annual fee or even no fee at all.
- Credit History: bear in mind that when you cancel your credit card, your credit history will be shortened and as a result, again your credit score will be decreased.
- Reward Points: redeeming any unused reward points has already been advised above but if there are more reward points on the way you should keep in mind to utilize all of them before taking any decision for cancellation.
FAQs
Q: Can I cancel my Opensky Credit Card online? A: As of now, Opensky requires customers to cancel their credit cards by contacting their customer service over the phone.
Q: Will cancelling my Opensky Credit Card affect my credit score? A: Yes, cancelling a credit card can impact your credit score, particularly if it results in a higher credit utilization ratio.
Q: Are there any fees for cancelling my credit card? A: Opensky does not charge a fee for cancelling your credit card. However, make sure to settle any outstanding balances before cancellation.
Q: How long does the cancellation process take? A: The cancellation process typically takes a few minutes on the phone with the customer service representative.
Q: Can I reopen a cancelled Opensky Credit Card? A: Reopening a cancelled credit card account is not possible. Once the account is closed, it cannot be reactivated.
Q: What should I do with the physical card after cancellation? A: You can either destroy the card or follow any instructions provided by the customer service representative.
Conclusion
It is quite a simple process when it comes to cancelling your Opensky credit card although it requires a lot of consideration on your part so that you do not make a wrong decision. Keep in mind the considerations and simple and easy to follow steps that we have provided you with and you will be right as rain.