Bajaj Finserv and RBL Bank give users of Supercard easy and hassle-free credit card cancellation options when closing a credit card. You can close it online or offline in case you find you no longer need the services of this 4-in-1 credit card. Following is how, in a few easy measures, you can close your Bajaj Finserv RBL Bank Credit Card:
Bajaj Finserv enables you to submit online a request for cancellation. You can send an email to email@example.com and provide the appropriate credit card and personal information for more assistance in closing your Supercard.
Send a letter to the nearest branch of RBL Bank stating that you would like your Supercard to close. You will have to send your card along with a written request, split in half, diagonally across the chip or magnetic stripe.
Make a call and ask the agent how to close a credit card at 022-71190900. By uploading basic details, check your Supercard account and the representative will initiate your submission.
Speak to an executive and make a cancellation request at an RBL branch. Make sure your SuperCard and evidence of identity are on board. Bajaj Finserv and RBL Bank look at your account upon receiving your cancellation request to check that you do not have any outstanding dues.
The cancellation of your card does not in any way impact your credit score. If a credit card looks like a debt trap, closing it is perfectly fine. But it can give you many advantages when you know how to use it prudently. Therefore, make an informed decision about a credit card termination.
Firstly, before beginning the process and to save time, pay all your unpaid dues.
Remember to redeem all the loyalty points you have earned before you think about how to cancel a credit card.
Bear in mind that if you have had a credit card for a while and have paid it on a regular basis, cancelling it will shorten your credit history and may harm your credit score.
It is recommended that you cancel a credit card when it is too expensive or when you pay high annual fees without receiving sufficient benefits. But it should be noted that this challenge is not raised by the Bajaj Finserv RBL Bank Supercard. In addition, you will get access to impressive offers on credit cards and discounts on items ranging from airfares and hotel accommodation to food and clothes.
Check your pre-approved credit card offer from Bajaj Finserv if you find the Supercard's offers appealing and do not have one yet. Doing so gives you immediate acceptance with a tailored deal as well as the ability to earn up to 20,000 loyalty points as a bonus for joining.
All credit card companies have the right to close your account due to inactivity and don't have to give you notice that they're doing it. If they close an account for other reasons, such as an adverse credit report, they must notify the cardholder within 30 days after taking the adverse action.
In general, it's best to keep unused credit cards open so that you benefit from a longer average credit history and a larger amount of available credit. Credit scoring models reward you for having long-standing credit accounts, and for using only a small portion of your credit limit.
If a card has high fees or a low limit, you may consider canceling it. For low limit cards, your utilization won't be harmed too much if you cancel. But keep in mind that it's better to close newer accounts, not accounts you've had since the beginning of your credit-building tenure.