How To Cancel Kohl’s Credit Card? Follow These Steps

Are you considering canceling your Kohl’s credit card? Whether you’re looking to simplify your finances or just don’t shop at Kohl’s as often anymore, this comprehensive guide will walk you through everything you need to know about canceling your Kohl’s credit card. We’ll cover the pros and cons, step-by-step instructions, and important considerations to keep in mind before you make your decision.

Before You Cancel: Things to Consider

Before you rush to cancel your Kohl’s credit card, it’s essential to take a step back and consider the potential impacts. Here are some key factors to keep in mind:

Impact on Your Credit Score

Canceling a credit card can affect your credit utilization ratio, which is a significant factor in calculating your credit score. Your credit utilization ratio is the amount of credit you’re using compared to your total available credit. When you close a credit card, you reduce your available credit, which can increase your utilization ratio and potentially lower your credit score.

“Canceling a credit card can have a short-term negative impact on your credit score, especially if it’s one of your older accounts or has a high credit limit.” – John Ulzheimer, credit expert

Outstanding Balances and Rewards

Before canceling, make sure to:

• Pay off any outstanding balances
• Use any remaining rewards or points
• Check for any pending returns or refunds

Alternative Options

Consider these alternatives before canceling:

• Freezing your card: This temporarily suspends your account without closing it
• Downgrading: If available, switch to a different Kohl’s card with fewer benefits and no annual fee
• Negotiating better terms: Contact Kohl’s to see if they can offer you better terms or benefits

Canceling Your Kohl’s Credit Card

Now that you’ve considered the implications, let’s dive into the process of canceling your Kohl’s credit card.

Preparation Checklist

Before you begin the cancellation process, gather the following information:

• Your Kohl’s credit card number
• Personal identification information (name, address, Social Security number)
• Account login details (if canceling online)
• Reason for cancellation (optional, but may be asked)

Canceling over the Phone

1. Call the Kohl’s Credit Customer Service number at (855) 564-5748.
2. Navigate the automated system to reach a representative.
3. Inform the representative that you want to cancel your Kohl’s credit card.
4. Provide necessary account information for verification.
5. Answer any questions about your reason for canceling.
6. Request written confirmation of the cancellation.
7. Ask about the status of any rewards or pending transactions.
8. Confirm that your balance is zero or make arrangements to pay it off.

Tips for a Smooth Conversation:

• Be polite but firm in your decision
• Have your reasons for cancellation ready
• Take notes during the call, including the representative’s name and any confirmation numbers

Canceling via Mail

To cancel your Kohl’s credit card via mail, simply send a written request to their customer service department, including your account details and reason for cancellation.

Template Letter:

[Your Name]
[Your Address]
[City, State ZIP Code]

[Date]

Kohl's Credit Services
P.O. Box 3120
Milwaukee, WI 53201-3120

Re: Cancellation of Kohl's Credit Card Account [Your Account Number]

Dear Kohl's Credit Services,

I am writing to request the immediate cancellation of my Kohl's credit card account, number [Your Account Number]. Please close this account and send me written confirmation of the cancellation.

I have paid off any outstanding balances on this account. If there are any remaining charges or credits, please inform me in writing at the address above.

Thank you for your prompt attention to this matter.

Sincerely,
[Your Signature]
[Your Printed Name]

Mailing Instructions:

• Send the letter via certified mail with return receipt requested
• Keep a copy of the letter for your records

Why You Can’t Cancel Online (and What You Can Do Instead)

Unfortunately, Kohl’s doesn’t offer an online cancellation option for their credit cards. However, you can use their website to:

1. Check your balance: Ensure it’s zero before canceling
2. Review recent transactions: Look for any pending charges or returns
3. Update contact information: Make sure Kohl’s has your current address for final statements

You can also use the live chat feature on Kohl’s website to inquire about the cancellation process, though you’ll likely be directed to call or write for actual cancellation.

After Cancellation

Once you’ve successfully canceled your Kohl’s credit card, here’s what you should anticipate:

Confirmation of Closure

• Look for a written confirmation from Kohl’s
• Check your credit report after 30-60 days to ensure the account is marked as “closed”

Final Statement and Payment

• You may receive a final statement showing a zero balance
• If there’s a remaining balance, pay it promptly to avoid late fees

What Happens to Your Rewards

• Any unused rewards or points will likely be forfeited upon cancellation
• Consider using them before canceling if possible

Alternatives to Canceling

If you’re on the fence about canceling, consider these alternatives:

Freezing Your Kohl’s Credit Card

How to Freeze Your Card:

Downgrading to a Different Kohl’s Card

If available, ask about downgrading to a card with:

• Lower or no annual fee
• Fewer benefits
• Lower credit limit

Negotiating Better Terms

Try negotiating with Kohl’s for:

• Waived annual fee
• Lower interest rate
• Better rewards program

Reopening a Closed Kohl’s Credit Card

If you change your mind after canceling, reopening your Kohl’s credit card may be possible, but it’s not guaranteed.

Is it Possible?

• Generally, you can request to reopen a closed account within 30-90 days
• The decision is at Kohl’s discretion

Steps to Reopen (If Applicable):

1. Call Kohl’s Credit Customer Service
2. Request to reopen your closed account
3. Provide necessary identification and account information
4. Undergo a new credit check
5. If approved, activate your new card when it arrives

Timeframe and Considerations:

• Act quickly, as the window for reopening is limited
• A new credit check may result in a hard inquiry on your credit report
• Your new account may have different terms than your original one

Smart Credit Card Management

Whether you decide to keep or cancel your Kohl’s credit card, here are some tips for smart credit management:

Monitoring Your Credit Report

• Check your credit report regularly (you’re entitled to one free report from each bureau annually)
• Look for errors or unauthorized accounts
• Use credit monitoring services for real-time alerts

Alternatives to Store Credit Cards

Consider these options instead of store-specific cards:

• Cash-back credit cards
• Travel rewards cards
• Low-interest credit cards

Building Credit Without a Kohl’s Card

If you’re canceling your Kohl’s card, try these methods to maintain good credit:

• Keep other credit accounts open and active
• Pay all bills on time
• Maintain a low credit utilization ratio
• Consider a secured credit card if you’re rebuilding credit

Conclusion

Canceling your Kohl’s credit card is a personal decision that depends on your financial situation and shopping habits. By following this guide, you can make an informed choice and navigate the cancellation process smoothly. Remember to consider the impact on your credit score, use any remaining rewards, and explore alternatives before making your final decision.

Ultimately, the key to good financial management is staying informed and making choices that align with your long-term financial goals. Whether you keep your Kohl’s card or decide to cancel, always prioritize responsible credit use and regular monitoring of your financial accounts.

FAQs

Let’s address some common questions about Kohl’s credit cards:

Does A Kohl’s Credit Card Have An Annual Fee?

As of 2024, the standard Kohl’s Charge card does not have an annual fee. However, always check the most current terms and conditions, as fees can change.

What If I Don’t Activate My Kohl’s Credit Card?

If you don’t activate your card:

• The account is still open
• You can’t make purchases
• It may still impact your credit score

Is There An Expiration Date For My Kohl’s Card?

Yes, Kohl’s credit cards do have expiration dates. Typically:

• Cards are valid for 3-5 years
• You’ll receive a new card before the expiration date
• The account remains open even if the physical card expires

Why Would My Kohl’s Credit Card Be Closed?

Kohl’s may close your account for reasons such as:

• Inactivity for an extended period
• Frequent late payments or defaults
• Violation of the card agreement
• Changes in your credit score or financial situation

Additional Resources

• Official Kohl’s Credit Card Information
• Federal Trade Commission – Credit Card Rights
• Consumer Financial Protection Bureau

By following this comprehensive guide, you’ll be well-equipped to make the best decision about your Kohl’s credit card and manage your credit responsibly. Remember, your financial health is an ongoing journey, and staying informed is your best tool for success.