Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
From beginners to top-level executives, there’s a credit card for just about every professional, and more cards are being added to the databases each day. While some find it easy to maintain them, others don’t. So, they tend to cancel their credit card to follow a simpler financial approach. In this page, we will talk about how to go about closing a HSBC Bank Credit Card.
Cancelling a HSBC Credit Card involves a very simple procedure. Here’s how you can do it:
HSBC Bank suggests that you cut your credit card into four pieces, along where the chip and the magnetic stripes are located, so that the card cannot be used for duplication or other criminal purposes.
Here is a list of few things you need to keep in mind before going ahead with the cancellation of your credit card:
Cancellation of a credit card usually has an impact on a person’s credit score. For instance, if a person has a lot of credit cards, and they cancel one, their Credit Utilisation Ratio (CUR) comes down. This will in turn have a negative impact on their credit score.
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Yes, you can close or cancel your HSBC credit card through net banking by logging into your account with your username and password.
After your HSBC card has been closed or canceled, it can be beneficial to cut the card across the magnetic stripe in order to ensure that it is not used again.
No, your HSBC credit card will only get closed or canceled by the bank after all the outstanding dues have been cleared, so if you want to transfer the balance to another card, it should be done before closing the card so that all the dues are paid.
No, you can only get your HSBC credit card closed in full after all the outstanding dues, including the EMIs, have been paid in full.
Your HSBC credit card will only get closed after the outstanding dues have been paid, but if you do close the card before the EMIs have been paid, then the outstanding amount will be debited to the bank account of the card as a lumpsum that will be later due for payment.
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