On this page Show
Closing a credit card isn’t as easy as opening a new one. Simply. Closing your credit card account requires certain steps that you must follow to ensure a smooth transition, irrespective of the issuing bank. We will detail the different ways in which you can cancel or close a credit card online and more. Before cancelling your credit card, please ensure that all outstanding balances are cleared. A card is considered closed only when all dues are paid off.
How to Cancel the Credit Card Account?
1. Submitting an online request
While this is the easiest way to be done with your credit card, unfortunately not a lot of banks offer this functionality. For those who do, the process is fairly simple. You go to the bank’s website, locate a form for credit card account closure, fill it up, and submit it. The bank officials usually get back to you via email or phone to confirm your details. Here you can also check how you can improve credit score & how to pay credit card bill.
2. Sending an email
While submitting an online request to close a credit card might not be available for all banks, sending an email is probably the next most convenient way. Whether SBI Bank, HDFC Bank, ICICI Bank, or any other issuer, the official websites usually have the mention of a corporate email ID.
You will need to share certain details including name, address, card number, contact number, and more. However, please refrain from sharing sensitive information such as CVV, card PIN, ATM PIN, OTP, and other passwords that might compromise security.
3. Calling up a helpline number
In case submitting an online request or sending an email to close or cancel your credit card account isn’t an option with your bank, the next best option is calling up their helpline to lodge a card closure request. Much like the last option, the customer care executives will usually request for your contact details and non-sensitive card details. Once shared, you will be intimated of further steps and informed of when the credit card will become inactive.
4. Writing to a postal address
Finally, in case none of the above work, you have a last resort option of writing to the bank’s postal address for closing your credit card. To do this, locate the official communication address for your bank’s credit card department. Usually, instructions dictate sharing contact details and card documents at this postal address.
FAQs
How do I close a credit card account permanently?
When you close or cancel your existing credit card, it is usually closed permanently given you do not put in a request to reactivate it in the future. Following are the ways in which you can close a credit card account permanently.
1. Submitting an online request
2. Sending an email
3. Calling up a helpline number
4. Writing to a postal address
Is it better to close a credit card or leave it inactive?
If you want to keep your credit score high, we recommend you keep inactive credit card accounts open, given they don’t incur any fees or charges. This is because the card adds up to your total credit history, which is an important ranking factor in your credit score.
Can we cancel credit cards online?
For some banks, you can cancel credit card online. This can be checked by contacting your issuing bank. However, for others you will have to take the alternate routes of email, telephone, or postal mail.
