Each year around $950 billion is billed on American Express cards. American Express is the world's largest card issuer by purchase volume and they are in the business of processing millions of personal and business transactions. American Express charges higher than average yearly fees, which can draw individuals way from keeping the card.

Before you throw away your American Express credit card, know this: canceling the credit card the right way involves more than simply discarding it. You must specific steps to close the credit card account for good… Otherwise your credit score suffers.

Follow the steps below to cancel your American Express card:

What You’ll Need

• Account information
• Personal information (Name, address, phone number, email, Social Security Number)
• Reason for canceling
• Phone

Steps to Cancel

1. Pay your balance in full before you attempt to cancel your credit card. 
2. To cancel your American Express card, call 1-800-327-1267 (Gold Card, Gold Card Rewards, American Express Credit Card Holders). Platinum Card holders must call 1-800-801-6564. If you are outside of the U.S. call 1-336-393-1111.
3. Corporate Card Members must contact your company's Program Administrator to cancel your Card.
4. Tell the representative that you want to cancel your American Express card. The representatives at American Express will most likely use sales tactics and incentives to pressure you into keeping your American Express credit card. Remember to stay firm, and remind the representative you are calling to cancel your American Express card. 
5. Once your card has been cancelled, ask for a letter of confirmation, and keep it in a safe place for your records. 
6. After you have received your cancellation letter in the mail, cut your American Express card and throw it away. 

CancelWizard has rated canceling an American Express card as "difficult" because you can't cancel online, and must call Customer Service. Have questions? Ask any questions in the comment section below, or let CancelWizard take care of the cancellation for you. Thanks!