With time, a lot of credit cardholders realise that maintaining a credit card isn’t an easy affair. It requires a lot of financial planning to keep a credit card healthy. In other situations, cardholders might want to opt for other credit cards that suit their financial needs better. Hence, at times, cardholders wish to cancel or discontinue using a credit card. ICICI Bank offers a simple method to its credit cardholders who want to cancel or close their credit cards. Listed below are the various processes that the cardholders can use to cancel or close their ICICI Bank credit cards.
How To Cancel Or Close An ICICI Bank Credit Card?
ICICI Bank credit cardholders can cancel or deactivate their credit cards using the processes listed below:
By filling up a cancellation form: ICICI Bank credit cardholders who want to cancel or close their credit cards can download a cancellation form from www.infinity.icicibank.co.in. On this form, they will need to furnish important information like their credit card number, add-on credit card number, reason for cancellation, city, mobile number, and email id. They can also fill up this form online and submit it. The cancellation request will be generated and the cardholder will receive a call from a bank’s representative who will confirm the cancellation. Once the cardholder gives confirms, the request will be processed within 7 business days. Alternatively, this form can be downloaded, filled, and sent to ICICI Bank Limited. Race Course Circle, Vadodara-390007 or ICICI Bank Towers, Bandra-Kurla Complex, Mumbai-400051.
Cardholders can call ICICI Bank’s toll-free number, 1800-200-8181, to initiate a request to cancel or close their credit card.
Things To Remember Before Cancelling Or Closing An ICICI Credit Card
Although it is perfectly fine for cardholders to cancel their credit card whenever they wish to, there are certain things that they will need to check before initialising the process to close or cancel the credit card.
Listed below is a checklist of things that every cardholder should go through once before initialising a credit card cancellation process:
Payment of outstanding balance: Cardholders should make sure that all the outstanding balance is cleared before they request the bank to cancel or close the credit card. Also, if there are active EMIs on the card, the cardholder should settle them as well. In case the outstanding balance is not cleared, the bank will not register the request to cancel the card. The account will remain active and the cardholder will receive reminders from the bank to pay the outstanding balance.
Redeem reward points before closure: Cardholders are often advised by the bank to utilise their unredeemed reward points before closing their credit card. They can redeem these reward points in order to bag products from the bank’s exclusive catalogue. Alternatively, the cardholders can also use these reward points to get discounts on goods and services from various merchants across the country.
Card should not be used before closure: To make the process of cancellation or deactivation smooth and fast, cardholders should make sure that they do not use their credit card just before initiating the process. This will lead to a fresh set of dues which will ultimately generate a new statement. The bank will not request the process unless the cardholder pays off the fresh set of dues.
Check for fraudulent transactions before cancellation: Cardholders should check their last credit card statement thoroughly to make sure that they have not fallen prey to any fraudulent transaction that has gone unnoticed. This will help them in avoiding new set of fees charges for transactions that they haven’t made on their own. Hence, before initiating a cancellation process, cardholders should always check the number of transactions made, the amount paid for each of them, and the date of payment.
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Does A Cancelled Or Closed Credit Card Affect The Cardholder’s Cibil Score ?
A cancelled or closed credit card will affect the credit score of cardholders who possess more than one card. Since after cancellation of one card, the consolidated credit limit available to the cardholder reduces, their credit utilisation increases. This affects their CIBIL score negatively. However, if a cardholder has a single ICICI credit card, it might not affect their CIBIL score negatively but it will also not make a positive difference to the same. Cardholders whose only means to build a healthy credit score is by opting for a credit card, need the card to build and maintain a healthy credit score. In such cases, financial experts recommend the cardholder not to cancel or close their credit card but to work towards maintaining it appropriately.
How To Reactivate A Closed Or Cancelled ICICI Bank Credit Card ?
Applicants can reactivate their closed or cancelled ICICI Bank credit card by calling the toll-free customer care number, 1800-200-8181. The bank will ask them to fulfil certain documentation and authentication formalities before reissuing the closed credit card.
Check How to Close or Cancel Other Banks Credit Card Online
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I am using ICICI Bank coral credit card quite for a long time. This is a life time free card, credit limit is fine. Customer service and responsiveness was good and the rate of interest was fine. I applied this card through online and i use this card for all purpose.
ICICI card is available with me since past 6 to 8 months but this card is useful in traveling because they have a tie up with makemytrip website hence they will provide 30 to 40% discount on green hotel. They will provide EMI facility also. I'm not fully satisfied with the credit limit and features available on this card. Their net banking facility is not working sometimes which could be upgraded.
I am using ICICI Bank Premium credit card more than 5 years. This is a life time free card and they have given a good credit limit. Mostly i use this card for shopping purpose and i am getting emi options. I use to get my credit card statement through email, customer service was good.
I am using ICICI Bank coral credit card more than 5 years. Annual charges for this card is Rs. 399 and there is no fee wavier option. Credit limit is very low of Rs. 33k which they need to increase the limit and they are doing a good service. Mostly i use this card for shopping purpose and they given a personal loan offer too.
ICICI is a very good card to use. More than 15 years, i have been using this card because they have provided the card along with the salary account. They gave me a good credit limit. I won't check about the offer details even though I'm receiving a offer details on a regular basis. Overall, I'm satisfied with the credit card features.
I am using ICICI Bank coral credit card and i have taken recently via other channel. Annual charge for this card is Rs. 799 and i am not sure about waiver option. Credit limit is sufficient and good mostly i use this card for all purpose. Customer service was good.
I am holding ICICI credit card for more than one year. I have applied through bank directly the process was fine. It is a life time free card and the credit limit is sufficient. EMI conversion is avail with nominal charges. Actual I use this card for travel purpose where I get free airport lounge access twice on annual for domestic purpose. I use this card for shopping and getting good discount up to 15% and reward points as well.
I am using ICICI Platinum credit card more than 1 year. This is life time free card and they given a good credit limit. Buy 1 get 1 movie ticket offer is there, i am using this card for all purpose. I applied this card directly through bank, customer service was good.
I bought my ICICI credit card on one month before. Actually this is card is useful in petrol bunk because I am getting a fuel surcharges waiver on this card. They have sent a card on time. They have mentioned my address and my name incorrectly on this card. I wont get any SMS when I swipe the card. I'm yet to receive my first month bill.
I am using ICICI bank credit card which was taken through bank .There are buy one get one offer for movie ticket every month .There are good reward points and if purchase anything through online will get offers .This was a life time free card and using this credit card for the past 3 years only.
I am using ICICI Bank credit card which was taken through bank .The credit limit was sufficient and this was a life time free card and there are very useful reward points and there was no offers on this credit card.This card is acceptable on all places as well as helpful on all emergency purpose and I am much convenient with overall service .
I have ICICI bank credit card which was taken through bank.I am using this credit card for the past 2 years and using this credit card very rarely.The card details was clearly shared by the agent.The card was delivered on time and easy to use and very flexible .I have submitted the required documents for this card.
I have been using my ICICI credit card for last 4 years. Since i have a salary account with them, i got a pre-approved offer from the bank thats the reason i have taken this card. They have provided me a credit limit of Rs. 70000 approximately. There is no yearly charges for this card. Sometimes i get a reward points and discount on this card.
I am using ICICI Bank Coral credit card more than 3 years. This is a life time free card and this card has less credit limit of Rs. 30k, if they increase the limit it will be good. I am getting benefits like airport lounge access, mostly i use this card for flight ticket booking and hotel booking.
I am using ICICI Bank platinum credit card almost six years. This is a life time free card and they given a very low credit limit of Rs. 35k, at least I need Rs. 1L as a limit. Buy 1 get 1 movie ticket offer I am getting and they giving very good service.
I am using coral credit card from ICICI Bank and they given a very good credit limit. This is a life time free card, recently i got this card so i don't know much about it. The documentation was good executive came and collected on time hence I received the card within 15 days.
I am using ICICI Bank Amazon pay credit card more than 2 months. Annual charges for this card is Rs. 700 + GST if i spend some amount no need to pay annul fee. When ever i do online shopping in Amazon, i will be getting some discounts. Customer service and responsiveness was good.
I am using ICICI Bank credit card which was taken through bank .I am using this credit card frequently for shopping only and its been 1 year and there is an option of converting emi. I am really satisfied with the credit limit and everything was good to me so far .
I am using ICICI Bank credit card for the past 1 year. Based on my salary account i have taken the card from my company which is a free card. I am happy with the credit limit what they given. Mostly i am using this card for shopping any emergency purpose and fuel. Emi options are not available. Last month i suppose to pay Rs. 15k for credit card , i paid only Rs. 14k and kept Rs.1000 as a pending. After 5 days it is showing - 4000 then i contacted the customer care they said it is a partial amount, for that Rs. 1k i paid Rs. 4k extra which i felt very bad.
There is no proper customer care in ICICI BANK and even the interest charges are also very high. I have been using my ICICI credit card for around 1 year. I'm paying the annual fee of Rs. 500 and i think its getting waived off on a first year based on my transactions and I'm not sure about second year waiver. I'm getting free movie ticket on this card.