How to Close or Cancel ICICI Credit Card

When other credit cards better fit their financial demands, users may occasionally desire to choose them. As a result, cardholders may want to stop using their credit card. For customers who wish to close their credit cards, ICICI Bank provides a straightforward procedure. The numerous procedures that cardholders can utilize to terminate or close their ICICI Bank credit cards are listed below.

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 credit card toll-free number 1860 120 7777, 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: Before asking the bank to cancel or close the credit card, cardholders should make sure that the entire debt is paid. The cardholder should also pay any outstanding EMIs if there are any. The bank will not record a request to terminate the card if the outstanding balance is not paid in full. The account will continue to be open, and the bank will send reminders to the cardholder to settle the unpaid sum.
• 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: Cardholders should avoid using their credit card soon before starting the cancellation or deactivation process to ensure a quick and easy process. This will result in new dues, which will then produce a new statement. If the cardholder does not pay the new set of dues, the bank will not request the process.
• Check for fraudulent transactions before cancellation: Cardholders should carefully review their most recent credit card statement to be sure they haven't been the victim of any fraudulent activity. They will be able to avoid paying new fees for transactions that they didn't initiate themselves thanks to this. Therefore, cardholders should constantly examine the number of transactions completed, the amount paid for each of them, and the date of payment before starting a cancellation process.

Does A Cancelled or Closed Credit Card Affect the Cardholder’s Cibil Score?

The credit score of cardholders with several cards will be impacted by a cancelled or closed credit card. Since the cardholder's combined credit limit decreases after canceling one card, their credit utilization rate rises. Their CIBIL score suffers as a result. However, if a cardholder only has one ICICI credit card, it won't necessarily have a positive or negative impact on their CIBIL score. Cardholders who can only obtain a credit card as a way of establishing good credit must use the card in order to establish and keep good credit. Financial experts advise the cardholder in these situations to work toward preserving their credit card properly rather than canceling or closing it.

How To Reactivate a Closed or Cancelled ICICI Bank Credit Card?

By phoning the toll-free customer service number, 1860 120 7777, applicants can reactivate their closed or cancelled ICICI Bank credit card. Before reissuing the closed credit card, the bank will require customers to complete a number of documentation and authentication requirements.

FAQs on How to Close or Cancel ICICI Credit Card

1. Should I clear the EMIs on my ICICI Bank credit card before closing it?

   Yes, it is important to clear all the dues, including the EMIs, on your ICICI Bank credit card before submitting an application to close or cancel the card.

2. Can I get an ICICI Bank credit card that was closed to be reissued?

   Yes, a closed or canceled ICICI Bank credit card can be reissued or revived. You only need to phone 1860 120 7777, the bank's customer service number.

3. Is it necessary to visit an ICICI Bank branch to cancel my credit card>

   No, you do not need to go to a branch of the bank to cancel your credit card. Instead, you can download and submit the cancellation form from the bank's website.

4. Can I close my ICICI credit card by paying just the minimum amount due?

   If you have paid off all of your debts, not only the minimum amount due, as shown on your credit card statement, your ICICI Bank credit card won't be terminated.

5. Can I redeem the reward points on my ICICI credit card after it has been closed?

   No, you can only redeem the reward points before you close your ICICI credit card.