February 24, 2024

If you are an SBI credit cardholder and planning to close your credit card due to multiple reasons such as unnecessary spending, a spike in bills, and all that, you can do it through online and offline ways mentioned below. Skip and you lose out!

How to Close SBI Credit Card

About Closing SBI Credit Card

If you are unhappy with the features of your SBI credit card or want a new credit card in its place, you might want to close your current card.

Additionally, canceling the card makes sense if you hardly ever use it and it has a high annual fee.

If you are dissatisfied with the features of your SBI credit card or wish to replace it, you may wish to close it. Also, if you rarely use the card and it has a high annual fee, you should cancel it.

However, you should keep in mind that canceling a credit card may have a temporary impact on your credit score. So, in this section, we will discuss how to close SBI credit cards and what factors to consider when closing your card account.

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How to Close SBI Credit Card Online

You can close your SBI credit card online by sending an email to SBI’s official email address via your net banking account.

Log in to your Internet banking account with your credentials and submit a credit card closure request.

You will receive a unique interaction ID on your registered mobile number after submitting the request for closure. Furthermore, the bank will contact you in order to close your SBI credit card.

How to Close SBI Credit Card Offline

Call the Customer Care Number for Cancellation

You can cancel your credit card by calling SBI’s customer service number. For credit card cancellation, the bank has a toll-free number or a landline number that you can dial with the local standard code.

When you call the customer service department, you must provide the necessary information such as your name, card number, contact information, and address.

Furthermore, never provide your card’s CVV number or pin if asked. After you successfully initiate the cancellation request, the bank will contact you and provide you with the cancellation details.

Write a Cancellation Request to SBI

In addition to calling the bank’s customer service department, you can write a cancellation request letter and send it to SBI card, PO bag 28, GPO, New Delhi 110001. In the cancellation letter, include your name, card number, address, and contact information.

Also, do not include any confidential information in the letter, such as a PIN or CVV. When your account is closed, your card will be deactivated.

Again, the bank will provide you with written confirmation of the closure of your credit card. A word of caution: cut the card diagonally until it is closed to avoid misuse.

Visit the Nearest SBI Branch

You can close your SBI credit card by requesting a bank official at the nearest SBI bank branch. Carry all necessary documents, as well as the SBI credit card that you want to close.

Things to Keep in Mind when Closing SBI Bank Credit Card

Before you request SBI Credit Card cancellation, keep the following points in mind.

  • Before closing a credit card, you must pay off all outstanding balances. If there is an outstanding balance, SBI Card will request payment before closing the card account.
  • Before canceling a credit card, check the most recent credit card statement to ensure there are no fraudulent transactions on the card.
  • It is critical not to use the credit card before initiating the credit card cancellation because card providers will not approve the cancellation if new purchases are made.
  • Before closing the card, you should also check the earned reward points and redeem them.

Consequences of Closing Your Credit Card

Cardholders may encounter the following consequences:

Lowered Credit Limit

A closed credit card reduces your overall credit limit by reducing the availability of easy credit from one of your cards.

This may cause you to use more of the available credit on your other credit cards, affecting your credit utilization ratio.

Shortened Credit History

If you cancel one of your credit cards, your credit history will be cut shorter. This may not have a direct impact on your credit score, but you will not be building it.

Difficulty in Handling Emergencies

It is critical to maintain a good credit score because a credit card is used for more than just shopping, booking movie tickets, and other lifestyle needs.

Furthermore, the card can be used for medical emergencies such as hospitalization, medication purchases, and other purposes.

Frequently Asked Questions

How Can I Close My SBI Credit Card Online?

Write an email requesting the closure of your SBI credit card and send it to the bank’s official email address via your Internet banking account.

How Can I Close My SBI Credit Card Account Permanently?

You can close your SBI credit card account permanently by calling the bank’s helpline number or writing a letter to the bank. After submitting the closure request, it is recommended that you cut your credit card diagonally.

Can the Bank Close My SBI Credit Card Account without Asking Me?

In the event of inactivity, negligence, or multiple payment defaults, the bank may close your credit card without inquiring.

Should I Deactivate My Unused SBI Credit Card?

To avoid paying annual fees, it is recommended that you close your SBI credit card if you are not using it.

In What Cases Should I Close My SBI Credit Card?

You can request the closure if you are not using your credit card or upgrading your current SBI credit card.

Will I Have to Close My Add-On Cards Individually?

When your primary SBI credit card is closed, the add-on credit cards are automatically closed.

When Will My Credit Card Account Be Considered as Closed by SBI?

SBI will send you a written confirmation once your SBI credit card has been closed. In addition, the details of your credit card’s closure will be included in your credit report.

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