Steps for Closing or Canceling Your SBI Credit Card
Credit cards are widely used financial products; however, some cardholders may find it challenging to maintain them and decide to switch to a different card. In such cases, it is recommended that cardholders cancel or close their existing credit card to avoid unnecessary fees and charges.
To cancel or close an SBI credit card, cardholders may call the toll-free number 1860-180-1290 or 39-02-02-02 with a local STD code prefix. Alternatively, they can write a request letter to SBI Card, PO- Bag 28, GPO, New Delhi-110001, including their name, address, card number, and contact details. It is important to avoid mentioning confidential information like the CVV number or PIN.
Once the process is initiated, cardholders can diagonally cut the card. All add-on cards associated with the primary card will also be canceled automatically by the bank.
Before initiating the cancellation process, it is essential to ensure that all dues and outstanding balances, including EMIs, are settled. Cardholders should also redeem any unused reward points within 45 days of card cancellation. Using the card prior to the cancellation process is not recommended as it generates a statement with a fresh payment due, which may affect the cancellation request. Checking the most recent credit card statement thoroughly is also crucial to avoid fraudulent transactions.
If a cardholder cancels or closes one of their credit cards, it can affect their credit utilization ratio and CIBIL score. However, if they only have one credit card and settle all dues, canceling it will not impact their credit score.
In summary, canceling or closing an SBI credit card involves a straightforward process that can help cardholders avoid unnecessary charges and maintain their financial well-being.
Effective Ways to Reactive an SBI Credit Card That's Been Closed?To Reactivate a closed or cancelled SBI credit card, interested applicants can either contact the bank's SBI credit card helpline number at 1860-180-1290 or 39-02-02-02 (using the local STD code as a prefix) or email them at [email protected]. Once the required documentation and formalities have been taken care of, the bank will reactivate the closed or cancelled SBI credit card.
Frequently Asked Questions About Cancelling or Closing an SBI Credit Card
What are the things that need consideration before cancelling my SBI credit card account? Before initiating the process of cancelling your SBI credit card account, all dues should be cleared, and the card must not be used again. Do not share sensitive information like the credit card PIN and CVV number with the bank, and cut the card diagonally before throwing it.
Will the bank alert me of any outstanding dues before I start the cancellation process for my SBI credit card? Yes, you must clear all of your dues before initiating SBI credit card cancellation, and the bank will notify you if you have not paid your dues. If there are any pending dues, you won't be allowed to cancel your SBI credit card.
When will SBI consider my SBI credit card account to be closed? Once your SBI credit card account has been closed, SBI will provide you with a written confirmation. Your credit report will also include that your credit card account has been closed.
Do I have to cancel my add-on cards separately? Once your primary SBI credit card has been closed, the add-on credit cards will also be closed and non-functional.
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