Canceling your Experian credit report by yourself online is easy. Follow these steps:
- Visit the Experian Website.
- Sign in to your account.
- Confirm your Experian credit information and select “cancel the subscription.”
- Select the reason why you want to cancel your account.
- Confirm your cancellation by clicking on the confirm button.
Alternatively, you can cancel through customer service. You will need to:
- Call Experian customer service.
- Provide the service provider with your personal details, including your account number and social security number.
- Follow the instructions provided to reach the membership and billing service.
- Request cancellation of the credit report.
You can also send a mail to the support team and request them to cancel your Experian subscription. It is, however, important to note that the above steps only cancel your subscription and not close your account.
How to Close Your Experian Account
If you’d like to close your Experian account completely, here is an easy guide on how to close your account using different methods.
Close Your Experian Account Over the Phone
- Contact the Experian call center.
- Select the consumer’s option.
- You’ll be required to identify yourself either by:
- Name
- Home address
- Social security number
- Date of birth
- You may have to stay on hold for a while as your call is directed to the available representative.
- Once the representative picks up the call, tell them you want to close your Experian account.
- The representative will be able to complete the account closure.
Note: It is important to note down the important information the representative will provide you through the call. This information will come in handy if you encounter any problems confirming the details of the call.
Close Your Experian Account by Email
Please send an email to Experian email asking them to cancel your membership. Although this method may take longer than the rest, you do not have to worry as your communication is documented in the mail section.
Unfortunately, no method can cancel your Experian membership online. You must make a direct call or email the customer center.
Experian has a smartphone app that provides the same services as its website. This app is extremely helpful and provides all the information you’d like to know about Experian account cancellation and closure in case you have difficulties canceling.
Experian Support Number
You can reach the Experian membership through their call center at 1-866-617-1894. Note that the call center’s operating hours are:
- Monday to Friday: from 6 am to 8 pm.
- Saturday to Sunday:from 8 am to 5 pm.
Why Close Your Experian Account?
Although Experian may quickly boost your credit score, some cons may lead you to close your account sooner. The major reason customers choose to close their Experian accounts is that this account’s boost is not guaranteed to work. While some payments are not eligible, the credit score gets affected greatly. Therefore, your credit score may need to improve as it should.
Security remains a crucial issue with banks. Some are only concerned about your account information security. This rarely works with Experian, as this account requires access to your online checking account. You have to share your data to qualify for payments. Besides, most people are not comfortable sharing their personal data.
Experian does not help to increase your scores at other major credit bureaus such as Equifax and TransUnion. It only works for your Experian score and not with other major accounts. Additionally, this account is only true for credit scores, but it does not help while applying for loans.
People with a suitable credit file are the only ones that may benefit from Experian. This credit report only works for those trying to build a reliable credit history. Therefore, it only works for some people.
While Experian may not be the best account for quite a huge number of people, below are some other things that make people prefer other similar programs that can improve their credit scores.
How to Withdraw Your Money After Canceling
The first thing you should know about canceling the Experian credit report is that it hurts your credit score. The other reason this should not be your go-to account is that withdrawing money after canceling your account only works for some subscriptions.
In most circumstances, you can withdraw your money after the cancellation but will receive a prorated amount. Experian determines the refund rules and retains a portion of your money as a penalty for termination.
The policy states that the auto insurance is paid upfront. Therefore, you are only entitled to get a refund of the remaining amount.
Experian Monthly Fee
As much as this account may appear straightforward, $24.99 for a monthly premium subscription is a lot of money. The family subscription amounts to $34.99 per month. Although the basic plan is free, it does not have premium identity protection plans.
You incur finance charges monthly if you are yet to pay the balance in full. The finance charge is based on your balance. These hidden charges which include taxes, interests, and membership fees accelerate the Experian credit account’s expenses.
Do People Lose Money Through Experian?
Experian account holders may suffer massive money losses over time. You may undergo a temptation and end up putting all your finances in Experian; hence you will not be aware of your expenditure.
Not clearing your dues by the billing date earns you a higher interest rate. This is one of the major ways to lose money through Experian. The interest incurred over a long period becomes very high, which results in losses.
If anyone gains access to your account’s confidential information, you can easily become a victim of fraud.
Can I Pause My Experian Account?
Although you cannot pause your Experian subscription, you can request a security freeze for your credit report. Freezing your account means limiting others, including lenders and service providers, from obtaining and viewing your credit reports.
To file a credit freeze process, follow these steps.
- Call Experian customer service.
- Provide the service provider with your personal details, including your account number and social security number.
- Request the service provider to freeze your credit report.
- You can choose to freeze your account for a specific time frame.
Alternatively, you can visit the Experian website and get a detailed walk-through on freezing your credit report.
To unfreeze your account, follow these steps:
- Visit the Experian website.
- Follow the given guidelines on the “unfreeze your credit” homepage.
- Make sure to use the same account number you used while freezing the credit account.
Alternatively, you can unfreeze your account by contacting the service providers or sending them an email. Either way, you will be required to provide verification information to lift the freeze.
Freezing does not halt your subscription but protects your account from fraudulent credit applications. This process, however, is free.
Bottom Line
Having an Experian account can help if you hope to grow your credit score rapidly. However, some cons are associated with being a holder of this credit account. Experian credit account only works with your credit score and not with any other credit bureaus. This account may not be the best because its boost is not guaranteed to work, and you may end up making major losses.