HomeCredit CardsHow to cancel or close SBI Credit Card?

How to cancel or close SBI Credit Card?

Close SBI Credit Card – Credit card is a very good payment instrument if used wisely and effectively. Nowadays credit card has become a status symbol. People make use of multiple credit cards. But, whenever they receive a fat bill they get worried. As per me, you should keep only one or two credit cards. If you have multiple credit cards, you should cancel it or close it. It is easy to cancel or close a credit card. The reasons for closing of credit card are given below.

  • Multiple credit cards generate multiple bills. It will be difficult to manage due dates.
  • Multiple credit cards create impulsive buying syndrome and you may end up spending extra.
  • You need to pay annual charges for unused cards.
  • You are not satisfied with the features and customer care services.
  • You got offer for the card with superior features and higher credit limit.
  • Your card is lost and you are not in need of card.

Whatever be the case if you want to cancel or close your SBI credit card, this post is for you. In this post, I will share methods to cancel or close your SBI credit card. I will also share things you should consider before closing any credit card. The purpose is to help you with closure or cancellation of your credit card.

close sbi credit card

How to cancel or close SBI credit card?

Step by step method to cancel or close your SBI credit card are given below.

#1 Check for card status

The first thing to check before closing a credit card is if the card is active or not. If your card is kept in unused conditions for a few months’ credit card company has the rights to cancel your card anytime. The bank also suspends credit card if cardholder defaults on the payment due or exceed the credit limit.

In case your card is canceled there is no point in applying for closure.

#2 Clear your dues

If your credit card is active, you should go for the next step which is clearing your dues. The credit card cancellation process will begin only if your clear your pending dues. You will get information about credit card dues in the credit card statement. A credit card statement is sent to the card holder e-mail ID. The statement contains a summary, outstanding amount as well as payment made on credit card.

There are multiple methods to clear your dues. You can login to sbicard.com and make payment via net banking or SBI ATM card. You can also make payment via cheque or demand draft. SBI also offers facility to make payment via ECS (electronic clearing system).

Also Read – 10 Ways to Increase Credit Card Limit

#3 Redeem your reward points

Another important step you need to perform before closing a credit card is checking your reward points. If you have unused reward points you can use it for redeeming for attractive gifts. Pending reward points can be used within 45 days of the cancellation of card. You can use SBI website for redeeming of your reward points.

You can get details of your SBI credit card from your registered mobile number. You can get information via SMS or via missed call also.

#4 Apply for cancellation

Once you are done with all of the above points you can apply for closure or cancellation of your credit card. There are two methods for cancellation.

  • By calling helpdesk – SBI credit card holder can close SBI credit card by calling helpdesk. The numbers of helpdesk are 1860 500 1290, 1860 180 1290, 39 02 02 02(Prefix local the STD code) or 1800 180 1290 (toll free). The representative will ask personal information including name, mobile number, birthdate etc for authentication. You can also write email to customer.care@sbicard.com
  • Send Written request – SBI card holder can also send written request for the closure of your credit card. You need to mention credit card holder name, birthdate and CVV in the letter. The address is – SBI Card, PO-Bag 28, GPO, New Delhi – 110001.

Things to consider before closing credit card

You should consider following points before closing your credit card.

  • Make sure no credit card payment is due before initiating cancellation. Cancellation of card is not allowed in case amount is due on the credit card. You should check credit card statement to know your payment due.
  • You should not initiate any new transaction on the card that you are about to cancel.
  • You should check the reward point and redeem the same before giving request for the cancellation.
  • Closing of credit card means lowering your credit score. You should not close all your credit cards at a time.
  • Make sure to cut the credit card diagonally before disposal.
  • Your add-on credit card will also get close with primary credit card.
  • Don’t forget to take written confirmation from bank about closure of credit card.
  • Bank will not give refund of annual fees, joining fee or renewal fees.

Over to you –

Have you used facility of closing your credit card?

Do share your views and experience in the comment section given below.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.