Finance

How to Cancel PenFed Credit Card 2021 [Updated]

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Do you own a PenFed credit card but want to cancel it for some reason?

If you don’t want to use a penFed credit card anymore or switching to another one then you can easily cancel your card. All you have to do it either call to the PenFed customer support number or access your PenFed online account and cancel your credit card.

However, they will ask you about the reasons of cancellation and also may offer a lower interest to keep you up with it. So, it all depends on you what will you do next.

Now, if you are committed to cancel your PenFed credit card anyhow then keep reading this article.

How to Cancel PenFed Credit Card?

To cancel your PenFed credit card you have to contact to PenFed member through online and fill out your personal details and the reason of your cancellation. After that, they will review your request and if everything goes perfect then they will cut off your connection from your current owned credit card.

Other than this, you also must provide the accurate reasons behind the cancellation of your credit card if it has a higher credit limit. This is because it will impact your credit score as well as your overall credit history.

Now, if you don’t care about those things then you can move to the further process to cancel your credit card account of PenFed.

Cancel PenFed Credit Card through PenFed Online

If you’ve access to your PenFed online banking or account then you can simply open your account and cancel your credit card account. You don’t have to visit the PenFed company or bank to close your credit card account.

However, if you don’t own online banking then learn on how to register to PenFed online banking.

After you created a PenFed online account then follow the following steps to close your credit card account of PenFed credit union.

Open Browser

First of all, open your browser on your mobile device or laptop. You can use any browser you want such as chrome, safari, opera, and firefox.

Visit PenFed Website

Now, type penfed.org in the search bar to open the official website of PenFed credit union. From there, you can manage all of your PenFed online banking transactions and check overall statements, and more.

Login to your Account

Once you on the main page of PenFed credit union then click on the Login button from the upper-right navigation bar. It will take you to the penFed online account login page.

After that, provide your login credentials of your PenFed online banking and access your account.

Click on Account Actions

Now, click on the Account Actions from the top right navigation bar. From there you can check your account services, visit forms center, order a PenFed debit card, check the statements & documents, transfer money, contact to PenFed customer support and also manage your PenFed account profile.

Click on Contact Us

Next, select the Contact us option under Contact us section from the left side. This will open the new page where you can state all your PenFed account issues and also ask queries if you have any.

Fill Out the Form

After clicking on contact us option, now you will see a submission form on where you have to provide your member information and state your problem information.

By default, PenFed will automatically fill out your member information section but if not then you have to fill it out manually by yourself. So, enter your PenFed name, email address, and phone number (working).

After that, under the problem information section, write a message that you want to cancel/close your PenFed credit card account. Provide the full detailed message or information so that it will be easier for PenFed to understand your request.

Click on Submit

Finally, submit your form and wait for the response in your email which you’ve provided.

Cancel PenFed Credit Card through PenFed Phone Number

If you don’t want to use the PenFed website or online banking or you don’t have access to it then you can also call the following customer support number and request to close your credit card account.

But remember, they will ask you about the reason for the cancellation and also convince you to not close your credit card account. In addition, they can also offer you a lower interest rate and other negotiation options to make you keep using the credit card. So, better prepare what you are trying to say or what you will say at that moment.

Now, for the PenFed customer support phone number to cancel your credit card account, simply call at 800-247-5626.

Cancel PenFed Credit Card through Letter

You can also write a letter directly to the PenFed credit union and request to close your credit card account. If you don’t want to follow the above two methods then send a credit card cancellation letter and get your job done.

So, write a letter and include the following things in your letter.

  • Your name.
  • Contact information
  • Account number
  • Credit card number

After you provide the above information in your letter then also request to close your credit card account.

Now, once your PenFed credit card cancellation request letter is complete then send it to the following location.

Box 247009

Omaha, NE 68124-7009

Does Cancelling Your PenFed Credit Card Affect Your Credit Score?

If you cancel your PenFed credit card account that has a higher credit limit then it will affect your credit score and your overall credit history. It will slowly decrease the available credit limit of your account and also lower down the credit score by time.

There is no way that your credit score will increase after your close/cancel your credit card account.

So, you shouldn’t close your credit card account even though you don’t use it. That’s because it will slowly increase your credit score even you don’t use it anymore and also helps in better credit history (long-term). But if you suddenly close your account then it will be difficult for your to recover it back.

Conclusion

You can follow any of the above-mentioned methods to cancel PenFed credit card account easily. But if you have time then calling directly to the penFed customer support number is a good way to close your credit card. Sending a letter or filling out the request form can take a longer time to cancel your account.

If you have any queries related to PenFed then feel free to ask them in the comment section down below.

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