How To Cancel Indigo Credit Card

The Indigo Credit Card is a credit card that can be both a helpful tool for managing your finances and a potential burden if not used responsibly. If you find that you are not utilizing your Indigo Credit Card or if the fees associated with it outweigh its benefits, it may be worth considering canceling it.

However, it is essential to recognize that canceling a credit card can have consequences for your credit score. Therefore, it is crucial to carefully evaluate all aspects and adhere to the appropriate procedure to minimize any potential negative effects.

How To Close Indigo Credit Card?

Follow these steps for smooth cancellation of your indigo Credit Card:

Pay Off Your Balance:

• It is advisable to settle your outstanding balance completely before canceling your card. In the event that you are unable to do so, it is important to continue making payments even after cancellation.

• It may be worth considering a balance transfer if you have an outstanding balance on your Indigo card. Transferring it to a card with a lower interest rate could be beneficial.

Please keep in mind that canceling your card does not release you from any remaining balances or charges. You are still responsible for paying them off.

Read More: How To Cancel Milestone Credit Card 

Contact Customer Service:

1. Locate the customer service number: Typically, it can be found on the rear side of your credit card. In case you are unable to find it, refer to the website of the card issuer.
2. Contact customer service: Clearly state your intention to cancel your card. Anticipate the representative’s attempt to persuade you to retain it.
3. Adhere to their guidance: They will provide you with step-by-step instructions to facilitate the cancellation of your card.

Contact details

After contacting customer service, remember to ask for a confirmation email or letter stating that your account has been closed.

Check Your Credit Report:

• Obtain a credit report: It is possible to obtain a complimentary credit report once per year from each of the three primary credit bureaus.

• Examine your credit report: Verify that your Indigo Credit Card is listed as “closed” or “account closed at consumer’s request”.

• Contest any inaccuracies: In the event that your card is still indicated as open, reach out to both the credit bureau and the card issuer to rectify the mistake.

Consistently monitoring your credit report guarantees the accurate reporting of your card cancellation.

Consider the Impact on Your Credit Score:

• It is important to comprehend the potential consequences of cancelling a credit card, as it can have an impact on your credit utilization ratio and subsequently affect your credit score.

• Take into consideration your credit history before making a decision. If your Indigo card happens to be your oldest credit card, closing it could result in a shorter credit history, which in turn can have an impact on your credit score.

• It is advisable to plan accordingly if you have intentions of applying for a loan or another credit card in the near future. Keeping your card open until after such applications might be a better course of action.

When deciding whether to cancel a credit card, it is crucial to have a comprehensive understanding of the potential consequences it may have on your credit score.

Conclusion:

To summarize, the process of canceling your Indigo Credit Card encompasses various measures. These include reaching out to customer service, reviewing your credit report, settling any outstanding balance, and evaluating the potential effect on your credit score. By adhering to these steps, you can guarantee a cancellation method that mitigates any possible adverse consequences on your credit.

Read More: How To Cancel Bank Of America Credit Card

Video Guide For Cancelling Indigo Credit Card

FAQs

Will Cancelling a card hurt my credit?

Closing a credit card could lower your credit score. That’s because it could lead to a higher credit utilization ratio, reduce the average age of your accounts and hurt your credit mix. Before closing a credit card, it’s wise to consider these factors and the potential impact on your credit score.

Will Cancelling credit card affect credit?

Closing a credit card can hurt your scores because it lowers your available credit and can lead to a higher credit utilization, meaning the gap between your spending and the amount of credit you can borrow narrows. Canceling a card can also decrease the average age of your accounts.

Is it better to cut up a credit card or cancel it?

Typically, it is advisable to maintain open credit card accounts that are not being used in order to reap the advantages of an extended credit history and a higher credit limit. Credit scoring systems tend to favor individuals with longstanding credit accounts and those who utilize only a small fraction of their credit limit.