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How to Cancel a Credit Card 

Wondering how to cancel credit card? Nowadays, you can easily cancel a credit card from the comfort of your home. For this, you simply need to visit the lender’s website or send an email to cancel your credit card. Alternatively, you can opt for the traditional methods of cancelling the credit card via customer care, post, or by visiting the bank branch. Continue reading to know ‘how to close a credit card account’.

How to Close Credit Cards Online

You can cancel your credit card online by following any of the two ways mentioned below:

1. Via the Bank’s Official Website

  • Step 1: Visit the card-issuing lender’s official website.

  • Step 2: Fill out the credit card cancellation or closure form.

  • Step 3: Submit the form.

Post form submission, you will receive a call from a bank representative to verify and confirm the credit card cancellation request.

2. By Sending an Email

To cancel a credit card through email, you must send an application to the lender’s dedicated email address mentioning the card details, such as credit card number, expiry date of the card, and your name, along with your registered mobile number. A bank representative will then verify your request and confirm upon credit card cancellation. 

Note: Please check if your lender provides this credit card cancellation facility.  

How to Close Credit Card Offline

Searching for how to cancel a credit card offline? Follow the ways mentioned below:

1. Via Post

You must send a credit card closing application mentioning details such as your name, credit card number, expiry date on the card, contact details, etc., and send it to the lender’s official address via post. You can find the postal address on the official website of the credit card-issuing company.

2. By Calling Customer Care

The easiest way to cancel a credit card today is via credit card customer care. Calling customer care to close your credit card account will require some verification on your part. Keep the card handy!

3. By Visiting the Bank Branch

You can also cancel a credit card by visiting the lender’s branch. Ensure to take your credit card, ID, and address proof. You can initiate the credit card cancellation request with the help of an official representative.

Things to Keep in Mind While Cancelling Your Credit Card

If you want to cancel your credit card, do consider certain things:

  • Clear All Dues

You may have credit card dues related to EMIs, cash withdrawals, loan amounts, etc., on your credit card. Ensure to clear all the payments before requesting credit card cancellation. If you do not clear the dues, the bank or credit card issuer may not let you cancel the credit card account.

  • Enjoy Facilities Before Cancelling Credit Card

Ensure that you claim all unredeemed rewards you have accumulated on your credit card.

  • Stop Automatic Transaction/Making New Transactions

Before cancelling the credit card, it is also imperative to stop using it for at least a month.

  • Learn About Closing Process and Penalties

Before you opt for the credit card cancellation process, you must know the closing procedure or rules laid down by the lender. This practice will help you avoid any penalties or additional charges outside the mutually agreed terms and conditions. Do not forget to check the credit card statement so that you can also avoid paying unnecessary charges just before closing the credit card.

  • Obtain a Written Confirmation

Once the credit card cancellation process is complete, you must obtain written confirmation from the bank. This confirmation is important to verify that there are no pending dues between either party. It might also come in handy in case there’s a related error on your credit score.

  • Add-on Cards Cancellation

While cancelling a credit card, the add-on cards (if any) also get cancelled automatically.

  • Non-Availability of Balance Transfer Facility

As soon as you raise a request for a credit card cancellation process, you cannot apply for the balance transfer process to another bank account.  

Consequences of Cancelling Credit Cards

  • Reduced credit limit

  • Increased credit utilisation ratio

  • Reduced credit history

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FAQs on How to Cancel a Credit Card

✔️Is it better to cancel unused credit cards?

Yes, instead of holding unused credit cards, you should cancel them.

✔️Do I need to submit my credit card to the bank once it is cancelled?

You can dispose of the credit card by cutting it diagonally.

✔️When I cancel a credit card, will my add-on card also be cancelled?

When a credit card is cancelled, all add-on cards are automatically cancelled.

✔️How to close a credit card account permanently?

You can cancel a credit card via the lenders’ official website, via customer care, via email, via branch visit, or by sending the application by post, etc.

✔️Does cancelling a credit card affect your credit score?

Cancelling a credit card might or might not have an impact on your credit score. Ensure that you check your updated credit report to understand the impact if any.