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Although SBI credit cards bring you multiple benefits and lifestyle offers, one can find it difficult to manage the card, or simply wish to upgrade. Closing the credit card account is also a prudent choice when you rarely use it. Let’s find out how to cancel an SBI credit card.

How to Close an SBI Credit Card Account

You can raise a cancellation request through the bank’s customer care helpline or by posting a written letter addressed to the bank.

  • Dial 1860-180-1290 or prefix the local STD code and call 39-02-02-02 to initiate a cancellation request

  • Another option is to send an email to sbicorporate.services@sbicard.com

Points to Remember When Cancelling Your SBI Credit Card

Knowing how to close an SBI credit card account is helpful, especially in dire situations. But there are a few points you should keep in mind before deactivating your card. These points include: 

  • Clear any and all the outstanding due amounts since termination of the card will only be effective after all remaining dues are cleared. Failing to do so keeps the card active and the outstanding amount may attract penalties. 

  • Cancel any automatic payments you may have set on the card. 

  • Check the latest credit card statement to ensure no fraudulent transactions have been made on the card.

  • Refrain from making new purchases on the credit card you want to close. Doing so generates a fresh statement of payment that needs to be cleared. 

  • Redeem all the accumulated reward points on the card to cash in your benefits. 

  • Request/save the confirmation received after your request is successfully processed. 

Consequences of Closing Your SBI Credit Card Account

To ensure that you make an informed decision and one that prioritises your financial health, knowing what can happen is key. Listed below are some of the effects of closing a credit card account:

  • Impact on your Credit Score 

Closing one of your credit card accounts would lead to a lower total credit limit. Assuming your expenses remain the same, you may have to use more of the available credit limit from your other credit cards. This will push your credit utilisation ratio, negatively impacting your credit score. 

  • Impact on your Credit History 

Cancelling your credit card also cancels the credit history linked to the card. In other words, when you cancel a card, your credit history gets shortened. This too can negatively impact your credit score and the possibility of secure future lines of credit.  

  • Reduced Total Credit

Closing your SBI credit card takes away a line of instant credit. Without this instant financing option, you can also lose out on buy-now-pay-later, and EMI payment perks if you have just one credit card. 

  • Termination of Add-on Cards and Other Benefits

Most SBI credit cards offer free add-on cards. However, once you cancel the primary card, all other cards stand to be cancelled as well. Additionally, upon the card’s cancellation, you won’t qualify for its attractive merchant discounts, offers, rewards, fuel surcharge waivers, and other perks.

Steps to Reactivate a Cancelled Credit Card

You can register a reactivation request for your closed SBI credit card account by:

  • Calling the toll-free SBI credit card customer care helpline at 1860-180-1290/1860-500-1290/(STD prefix) 39020202.

  • Using the ‘Write to Us’ portal and fill out an online query form outlining your reactivation request. 

 

Note: that your card will only be reactivated after all the documentation work and other formalities (as per the bank’s policies) have been concluded.

Frequently Asked Questions

Yes, depending on the circumstances, the bank may close your credit card. Generally, this happens in the case of inactivity, misconduct, or multiple defaults in payments.

Yes, if your credit has been unused for a long period, and you don’t need the extra credit limit, you can deactivate your credit card. 

You should cancel your credit card if you have not been using it or if you are upgrading the card. 

To permanently close your SBI credit card, you can register a cancellation request either by contacting the bank’s toll-free customer care helpline or by submitting a written letter. 

No, currently SBI credit card cancellation requests can only be made via the bank’s customer care helpline or through email. No online modes are currently available for this service. 

To reactivate your closed credit card, you can either call the bank’s customer support team or register a query via the ‘Write to Us’ portal. 

Your request to close the SBI credit card account will be processed and considered effective only after you clear all the dues on your card. You will receive confirmation via SMS or email when the request is processed.

There are a few things you should and should not do after placing your request to cancel your SBI credit card. First, ensure all the dues are paid in full. Second, avoid making new purchases. Lastly, do not share sensitive card information with anyone and dispose of the card by cutting it diagonally once the request is successfully processed. 

Yes, the bank will notify you about the outstanding dues and your request to close the SBI credit card will only be processed after you clear any and all balances on the card. 

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