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How to cancel an HSBC credit card

Cancelling your HSBC card

Updated

You’ve paid off your credit card and put a stop to autopay. But closing your account isn’t as simple as cutting up your card.

Calling to cancel your account can take time. Representatives are trained to convince you to stay by offering perks and gifts, requiring you to decline three or more times before you’re free.

Before canceling your HSBC credit card by phone, here’s an alternative to get the ball rolling in minutes.

Can you cancel your HSBC credit card without calling?

The short answer: Maybe.

To at least start the process of canceling your HSBC credit card without picking up the phone:

1. Log in to your HSBC account.
2. Click the BankMail link to the left of your screen.
3. Choose Other as the subject of your message. In your message, include your credit card number and state that you want to close your card.

If you can’t cancel your card online, call 888-385-8916 to reach HSBC’s credit card support line.

What to expect when you call to cancel your card

Whether it’s to clean out your wallet or gain control of your finances, know your reason for canceling before you call. Any representative you speak to will try to convince you to stay and could even forward you to HSBC’s customer retention division for more persuading.

Credit card companies don’t want to lose you, and so they make it difficult to cut ties.

Have a game plan

Before you pick up the phone, know if more perks or a lower APR could entice you to stay.

Above all: If you’re sure you want to close you account, strongly say no to any enticing deals the rep throws your way.

Before trying to cancel your Capital One credit card, prepare by reading our guide to canceling your credit card.

Will canceling my HSBC credit card affect my credit score?

It could. Credit bureaus determine your creditworthiness by looking at your payment history and the age of your credit. But they also look at how much credit is available to you compared to how much you’re using — known as a credit utilization ratio.

Closing a card with a high spending limit and $0 balance can temporarily increase your ratio, resulting in potential creditors seeing you as a higher risk.

In general, credit bureaus like to seeAfter you’ve canceled your credit card your credit utilization ratio at 30% or below. If you’re looking to get control of your finances, it may help you to keep your $0 balance card open and just stop using it.
How does a credit utilization ratio affect my score?

After you’ve canceled your credit card

After you’ve canceled your card online or by phone, send a written letter to HSBC with your cancellation request. Include your credit card number and account number.

Send your signed letter to:

HSBC Bank USA, N.A.
PO Box 2013
Buffalo, NY 14240

Get a new card that you’ll love

If you want to close your credit card because it doesn’t fit your needs, you may want to find a new credit card that better suits you. Compare your options to find the best card for your needs and credit profile.

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2 Responses

  1. Default Gravatar
    RameshApril 12, 2018

    How to cancel credit card?

    • Avatarfinder Customer Care
      JhezApril 12, 2018Staff

      Hello Ramesh,

      Thank you for your comment.

      If you’re inquiring about cancelling an HSBC credit card, you can follow the steps above. You must make sure that you have paid off the (outstanding) balance of your card, transfer rewards points (if there’s any) and then contact your provider. You must make sure you’re closing or terminating the card gracefully so this would not give a high impact to your credit score.

      For a guide, you may check this page. I hope this helps.

      Regards,
      Jhezelyn

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