How to Deactivate Credit Card, Cancellation of Credit Card

Having too many credit cards for a long time may be too overwhelming. In such situations, it is better to get rid of the ones that you don’t use often by deactivating them. Even though the guide on how to deactivate your credit card varies from one bank to another, there are few common steps that you can follow to deactivate your credit card.

Here is a step-by-step guide for the same!

Steps to Deactivate Credit Card via Customer Care

You can contact your bank’s customer service executives and ask them to deactivate your credit card. Once you raise this request with your bank’s customer support executive, the agents from your bank will contact you and explain the further steps to be followed. You will be asked about the reason for cancelation of your credit card along with a few details about the same.

You can easily find the details of your bank’s customer support staff on the bank’s official website.

Steps to Deactivate Credit Card via Post

To deactivate your credit card via post, you need to write a letter and mail it to your bank/credit card issuer. The letter should contain all the details about your credit card and send it to the concerned department in your credit card’s bank through ordinary or registered post.

The postal address of the bank/credit card issuing company can be found easily on the official website of your bank.

Steps to Deactivate Credit Card via Email

You can send an email request to your bank/credit card issuer regarding the deactivation of your credit card. All you need to do is provide your crest card and personal details and request for deactivation. Your request will be processed after the verification of details provided by you.

You can find the email address to be written to, on the official website of your bank/credit card issuer.

Read More: Credit Card Benefits: Why Should you Buy a Credit Card?

Steps to Deactivate Credit Card via Website

Some banks/credit card issuers offer the option of deactivating your credit card at the comfort of your home through the bank’s official portal. All you need to do is follow these steps-

Log in to the bank’s official website using your credentials
Click on ‘Credit Card’, and select ‘Deactivate’
Fill in the deactivation form by entering the required details and click on ‘Submit’

After submission of the form, you will be contacted by the bank’s representative for confirmation and your request will be processed further.

Points to be Considered While Deactivating your Credit Card

As you move on to deactivate your credit card, consider the following points-

Ensure that there is no outstanding balance in your credit card account
Read about the credit card deactivation procedure of your bank thoroughly
Use all the rewards, and discount vouchers on your credit card
Cancel all the auto-payments and bill transfers on your credit card
Check your credit card statement to confirm that there are no last-minute charges on your card
Confirm the exact date of deactivation of your credit card with the customer care executives
Make sure that you get a written confirmation from the credit card issuer that your card was deactivated and that your account was closed
It is important to note that when you deactivate a credit card, any other add-on card associated with will automatically be deactivated
Once you raise the request for credit card deactivation, you will not be able to transfer your balance from this card to the other

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Read More: Guide to Different Types of Credit Card - A Comparison

FAQs

Can I cancel an unused credit card?

Yes, you can cancel an unused credit card. Infact, it is better to cancel it if you don’t need it.

How to deactivate my credit card?

You can deactivate your credit card by contacting your bank/credit card issuing company either via their customer service staff, post or email. You can also deactivate your credit card by visiting the bank’s official website.

Will it affect my credit score if I deactivate my credit card?

Deactivating a credit card may or may not have an impact on your credit score. However, the impact can be minimized by following all the necessary steps required to deactivate your credit card.

Are there any charges involved in deactivation of a credit card?

No, there are absolutely no charges involved in deactivation of your credit card.

What will happen if there is an outstanding balance in my credit card when I request for deactivation?

You will not be able to request for deactivation of your credit card if there is an outstanding balance in your credit card. To be able to apply for deactivation, you first need to clear your outstanding balance.

Will I have to submit my credit card to the bank once I deactivate it?

This depends from bank to bank. Some banks may ask to mail them your credit card after cutting it into two pieces, while others may ask for a picture of the same. Few banks do not ask for anything as such.