7 Tips For Closing A Credit Card View as article  Do Your
Research    1. Clear the Balance  If you are carrying a balance
on a credit card, you can't close the card without first
clearing the balance. You can do this the old-fashioned way,
which is the best way: pay off the balance. If you can't afford
to pay the card off, you can transfer the balance to another
credit card, preferably one with a lower interest rate.  2. Read
the Fine Print  Check your card holder's agreement for closing
procedures and possible penalties before you make the call. If
you've opened the card recently, you may find that there is a
charge for early closure.  3. Collect Outstanding Rewards
Generally, any rewards (such as points or airline miles) still
technically belong to you even after you close the credit card.
But the wise person will collect before closure. If you're not
up to a certain amount of points or dollars earned to collect
your reward, decide if it's worth it or not to hang on to the
card until you reach that amount.