How to Terminate Academy Credit Card

How to Terminate Academy Credit Card

Academy Credit Card is a popular credit card that offers a range of rewards and benefits to its users. However, if you no longer need or want the card, it is important to know the steps to terminate it properly. In this article, we will discuss the process of terminating Academy Credit Card, including the necessary steps to take and important considerations to keep in mind.

Step 1: Contact Academy Credit Card Customer Service

The first step in terminating your Academy Credit Card is to contact thecustomer servicedepartment. You can call the number on the back of your card or visit the Academy Credit Card website to find the customer service contact information. When you speak with a representative, be sure to let them know that you want to terminate your card. They will ask you for some information to verify your identity and may also ask you for a reason for cancelling the card.

Step 2: Pay Off Your Balance

Before you can cancel your Academy Credit Card, you must ensure that you have paid off your balance in full. This is important because if you cancel the card with a balance still owing, you will still be responsible for making payments on that balance. Be sure to check your account balance and make any necessary payments before proceeding with the cancellation process.

Step 3: Cut Up Your Card

Once you have paid off your balance and contacted customer service to terminate your card, it is important to physically cut up your card. This will prevent you from accidentally using the card in the future or having it stolen and used by someone else. Be sure to dispose of the card securely, such as by shredding it or cutting it into small pieces.

Important Considerations

While the process of terminating Academy Credit Card is straightforward, there are some important considerations to keep in mind. First, it is important to note that cancelling a credit card can have an impact on your credit score. This is because credit scores are based in part on the length of your credit history and the number of open credit accounts you have. Cancelling a credit card can shorten your credit history and reduce the number of open accounts, which can lower your credit score.

Second, it is important to consider the rewards and benefits that you may be giving up by cancelling your Academy Credit Card. If you have accumulated rewards points or other benefits, be sure to redeem them before cancelling the card. You may also want to consider whether there are other credit cards that offer similar rewards and benefits that may be a better fit for your needs.

Conclusion

Terminating Academy Credit Card is a straightforward process that involves contacting customer service, paying off your balance, and cutting up your card. However, it is important to keep in mind the potential impact on your credit score and the rewards and benefits that you may be giving up. By following these steps and considering these factors, you can terminate your Academy Credit Card in a way that is both financially responsible and beneficial for your long-term financial health.