{"id":3109,"date":"2021-01-22T20:13:34","date_gmt":"2021-01-22T14:43:34","guid":{"rendered":"https:\/\/aayushbhaskar.com\/?p=3109"},"modified":"2021-01-30T10:54:43","modified_gmt":"2021-01-30T05:24:43","slug":"how-to-close-credit-card","status":"publish","type":"post","link":"https:\/\/aayushbhaskar.com\/how-to-close-credit-card\/","title":{"rendered":"4 Simple Ways To Close a Credit Card in India","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
Don’t we all enjoy a shopping spree on our credit cards?<\/span><\/p>\n A credit card allows us to buy products with a promise to pay later. It helps us lessen the current burden of payments. However, at times, when we are not happy with the credit card And we might want to close\/cancel it.<\/span><\/p>\n There are several reasons why one wishes to close their credit card. Maybe you do not need it anymore, or you never used it as such, or you do not want to be associated with the particular bank now. <\/span><\/p>\n Sometimes, the annual fees of holding the card are too much, and the usage is comparatively null. The reason could also be that one is not happy with the credit card provider’s services. <\/span><\/p>\n The reason can be any. <\/span><\/p>\n Nobody can stop you from closing your credit card, provided you have all the dues cleared. It is a reasonably straightforward process to close the credit card and not really come with any complications.\u00a0<\/span><\/p>\n <\/p>\n If you are wondering what impact it would have on your\u00a0credit score<\/a>\u00a0\u2013 we have some good news for you! <\/span><\/p>\n If you follow the right credit card cancellation\/closing procedure, it will not negatively impact your credit score. <\/span><\/p>\n For those who are wondering what a credit score, it is a numerical representation and an analysis based on the person’s credit files. It represents the creditworthiness of the person, and the higher it is, the better it is.\u00a0<\/span><\/p>\n <\/p>\n You can check your credit score at CIBIL Website.<\/a><\/em><\/p>\n Closing the credit card varies from bank to bank and depends on the specific process they follow. However, every bank has a generic system of closing the card that one can rely on. Below are the ways how you can close your credit card \u2013<\/span><\/p>\n Find the customer care number of your respective bank. <\/span><\/p>\n The customer care numbers are available either online or on the documents, if you have any. Request the customer care executive for closing the card in your name after providing all the necessary details. <\/span><\/p>\n The customer care executive might ask you for a reason, so make sure to provide him\/her with that too. <\/span><\/p>\n After the conversation, the bank will process your request for closing your card within a few hours, days, or even months, depending on the bank.<\/span><\/p>\n For a prompt response, you can also write a letter to the bank’s manager. Mention\u00a0<\/span>your credit card’s essential details<\/span>, such as the credit card number, card holder’s name, address, and contact information. <\/span><\/p>\n Ensure that you do not mention your card’s CVV number of PIN, for safety reasons. The postal address to send the letter on will be available on the bank’s official website that your card belongs to. <\/span><\/p>\n If you do not find it there, you can also call the customer care executives to know the same. <\/span><\/p>\n After you send the letter and the authorities receive it, you might get a call for them. As the request is confirmed, the bank will process your credit card closure request.\u00a0<\/span><\/p>\n <\/p>\n To make your work simpler, there is also a provision to submit an online request to close the card. <\/span><\/p>\n Visit the official website of the bank to which your credit card belongs to. Fill the closure form there and submit it. <\/span><\/p>\n One of the bank’s executives will call you to confirm the request, and upon confirmation, they will initiate your request. <\/span><\/p>\n However, not each and every bank offers this facility to its customers, so ensure that you check the availability of this way beforehand.<\/span><\/p>\n Raise a request to close your credit card by e-mailing the same to your card’s issuer. <\/span><\/p>\n Again, not every bank might have an e-mail solely dedicated to this purpose. But the ones who do, you can find a dedicated e-mail address for the closure of the card on their official website.<\/span><\/p>\n The e-mail shall have all the necessary details of your credit card and your personal details required to\u00a0close the card. <\/span><\/p>\n As and when you send the e-mail, your request for closing the card will be processed after you hear from the bank’s representative either via an e-mail or through a call.<\/span><\/p>\n You can opt for either one or more of the steps above to be extra cautious. <\/span><\/p>\n Once you do the following, wait for your card’s closure. Once it is closed, and it shows in your credit report, make sure that the reason for the closure is ‘closed at consumer’s request’ and nothing else. <\/span><\/p>\n A different reason such as ‘closed at issuer’s request’ can harm our credit score.\u00a0<\/span>\u00a0<\/span><\/p>\n As soon as this step is done, too, comes the last step of the process. Destroy your credit card! Either out it into a shredder or cut it into tiny pieces and discard it.\u00a0<\/span><\/p>\n1. Call your customer care: <\/span><\/h2>\n
2. Submit the closure request in writing: <\/span><\/h2>\n
3. Submit an online request: <\/span><\/h2>\n
4. Send an E-mail for the card’s closure: <\/span><\/h2>\n
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