Can You Cancel a Credit Card Application?

Yes, sometimes. If your application is still pending, you may be able to cancel it by contacting the card issuer right away, but many applications are processed in minutes.

If you are already approved, you usually cannot “cancel the application,” but you can cancel the new credit card account.

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When You Can Cancel a Credit Card Application

You have the best chance to cancel if:

• Your application status is still pending, or

• You applied by mail or in person and the decision is not instant

What to do:

• Call the issuer immediately and ask if they can cancel or withdraw the application.

If You Were Already Approved

If the card was approved, the account may already be open. In that case, your next step is usually to cancel the credit card account, not the application.

Important notes:

• Not activating the card does not always solve it. Some issuers may still treat it as an open account, and they may close it later if it is never activated.

• Even if you cancel quickly, the credit check (hard inquiry) may have already happened, and that can still affect your credit score a little.

How To Cancel the Card Properly

In Canada, the Government of Canada’s guidance for cancelling a credit card account includes:

1. Contact the card issuer (phone or in writing) and ask them to close the account.

2. Ask for written confirmation that the account is closed, and keep it.

3. Know that cutting up the card, letting it expire, or not using it does not cancel the account.

4. Check your statements after closing, because some transactions (like subscriptions) can still appear.

5. Check your credit report later to confirm it shows as cancelled (it can take about 30 days to update).

Will Cancelling Hurt Your Credit Score?

It can. Closing a credit card can lower your score because it may reduce your available credit and change your credit history length.

Also, the hard inquiry from applying can cause a small, temporary dip even if you cancel.