A:

Wal-Mart offers two types of credit cards: the Walmart MasterCard and the Walmart credit card. Both are administered through Synchrony Bank. To closer either one of these credit cards, contact Wal-Mart by sending a letter to the address shown on your latest billing statement or by calling the company's customer service number (you can find it on the back of your Walmart credit card or on your statement, or online).

If you need to close your account right away, calling customer service is the fastest way to process your request.

Details About Closing Your Walmart Credit Card

Under most circumstances, you are still liable for the full outstanding credit card balance. To prevent accumulating additional charges by any other authorized users of your Walmart credit card, collect all cards issued and destroy them. If authorized users are in other states than the one in which you reside, notify them about your plans to close your Walmart credit card right away.

Until you settle the account in full, the variable 23.15% annual percentage rate (APR) for the Walmart credit card and the variable 17.15% to 23.65% APR (26.15% for cash advances) for the Walmart MasterCard apply to remaining balances.

Wal-Mart reports your credit card activity to the three credit bureaus (Equifax, Experian and TransUnion). Closing your account may negatively impact your credit history, depending on how long you have had the card. If your Walmart credit card is your oldest credit card, consider paying off the full balance but keeping your account open; otherwise, the average age of all your accounts will go down, which can reduce your credit score.

Wal-mart offers several payment options for its credit cards, including online, over the phone, by mail and in store (both Wal-Mart and Sam's Club sites, if you're a Sam's Club member). For details, see "Can You Pay off a Walmart Credit Card in Store?"

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