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How to Close Your SBI Credit Card?

If you have an SBI credit card and want to upgrade it to another with better benefits or have not been using it for some time but have been paying its annual fees, you can go ahead and cancel it. The bank offers several ways to close your SBI credit card, both online and offline. You simply need to follow the specific instructions stated by the bank to initiate the cancellation process of your SBI credit card.

How to Close Your SBI Credit Card Online?

If you are wondering how to close your SBI credit card online, the process is simple and easy to follow-

  • Cancel SBI credit card by sending an email-

You can cancel your SBI credit card online by sending an email to the official SBI email address through your net banking account. You would need to log in to your account using your credentials and state your credit card closure request. Once the request is placed, you would receive a unique Interaction ID on your registered mobile number. The bank would then get in touch with you to close your SBI credit card.

How to Cancel Your SBI Credit Card Offline?

To deactivate your SBI credit card offline, you can opt for either of the three methods mentioned below-

  • Call the SBI customer care helpline-

You can call the SBI customer care helpline numbers, which are active 24x7, to place your request for SBI credit card closure. The customer care executive would ask you a few details to authorize the card. Once validated, the executive would process your request.

The SBI customer card helpline numbers are-

18601801290/ 18605001290/ 18001801290/ 39020202 (local STD code as prefix)

  • Send a letter to the bank’s official address-

You can write a letter and send it via post to the official address of SBI, requesting the closure of your SBI credit card. You would need to mention all relevant details related to your account, such as your name, credit card number, and credit card expiry date.

  • Visit the nearest SBI branch-

You can visit the nearest SBI branch and request a bank official to close your SBI credit card. You would need to carry all the relevant documents along with the SBI credit card that you wish to close.

Points to Remember When Closing Your SBI Credit Card

Now that you know how to cancel the SBI credit card, you need to keep a few things in mind when initiating the process-

  1. Clear all pending loans, balance transfers, outstanding dues, or EMI against your SBI credit card to progress with the cancellation process.

  2. Check SBI’s website for the closing process and any penalties that may be charged for closing your SBI credit card account.

  3. Cancel any automatic payments you may have set up against your credit card.

  4. Do not make any new purchases on your SBI credit card once the closure request has been made and the dues have been cleared.

  5. After you apply for a credit card, make sure to redeem all the accumulated reward points on your SBI credit card before it is closed.

  6. Request for a confirmation from the bank, if not provided, stating that the cancellation of your SBI credit card has been successful.

What are the Consequences of Closing Your SBI Credit Card?

Closing your credit card can have certain effects on your finances. These include-

  • Reduced total credit available

  • If the expenses remain the same the credit utilization ratio would increase significantly

  • Lowering of the credit score due to the increase in credit utilization ratio

  • Lower credit score as the average credit history will be reduced

Frequently Asked Questions About Closing SBI Credit Card

  • ✔️Can the bank close my SBI credit card account without asking me?

    In the case of inactivity, delinquency, or multiple defaults in payments, the bank may close your credit card without inquiring.

  • ✔️Should I deactivate my unused SBI credit card?

    You can close your SBI credit card if you haven’t been using it, as it would save you from having to pay annual fees on the card.

  • ✔️In what cases should I close my SBI credit card?

    If you are upgrading your current SBI credit card, or have an unused credit card from SBI, you can opt to close it.