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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Am having ICICI credit card for two years, I feel good and have not face any issues. The best part about the card is its a life time free card. I used to get my card statement on time. I used this card for shopping, groceries and for many other personal purposes.I am using the bank mobile app which function smooth and simple.
I have been using ICICI card for more than one year. They have provided an annual fee chargeable card and waiver off option is applicable. The credit limit is okay of 50K. Since I need to do purchase about 45K on some of the month so this limit is not sufficient. I swipe the card for travel, shopping and fuel purposes. I have not opted for EMI conversion.
I got Make My Trip card offer directly from ICICI bank. Hence I have been using this card for more than a year. First year annual fee chargeable of 500 rupees from 2nd year onward its free. The credit limit is 60K. Since they provide more offers so chosen it. I am yet to use for travel purpose. Mobile app is user friendly to access. It is easy to check the statement in app and will be update on time.
ICICI has given easy option to convert for EMI either I can do by mobile app or net banking rather calling the banker to raise a request, so that I feel best in this bank. The charge is nominal. I have been using this card for more than 4 years. It is a life time free card. The credit limit is okay of 36K only once they have increased the limit for second time I have refused it. It is a Platinum card. I use this card for an online purchase and fuel purposes.
I am unhappy with ICICI customer service because there is no proper response from their end. The limit which was provided from bank was not sufficient and low of only 16K. Since 16 years I am using this card not even a single time I got a call from bank for enhancement. It is a life time free card. The best which I would like to say is this card is acceptable in many places.
The credit limit which is provided from ICICI bank was sufficient to use. Its been one year I am holding this card. They have provided an annual fee chargeable of 4K but they have given an option for wavier off as need to spend 3K on monthly. I swipe the card for shopping, fuel purpose so got reward points.
ICICI bank have provided a good credit card to me which have a lot of offers in traveling, fuel surcharge, buy one get one free movie tickets every months along with many rewards points. Its also a life time free card.The card is very convenience to used. I do my credit card payment through bank.
Since I am having my saving account in ICICI bank and the bank so i decides to apply for a credit card also but i am not satisfied since the credit limit is only 50,000 as I am expecting to get more than the limit, the rate of interest is 13%. However it was fine because it is a life time free card.
I am using ICICI credit card more than 8-9 months . This is a free card and i am getting reward points and cash back offer. It has a offer for buy one get one movie tickets and they given a very less credit limit, compare to my other cards credit limit is not sufficient. ICICI app is excellent, its very friendly for the user.
I have closed ICICI credit card for a long time ago because i feel that it is no use to me as it have so many credit card with a good credit limit because the limit of this card is only 18,000 which is very low even though its a free card. I have taken the card because the agent came to the mall and suggested this card to me.
I have applied ICICI Bank Amazon credit card for the past 7 months and I am getting 2,500 cash back and they given 5% on amazon shop and also 2,800 cash back till now all discount I have utilized . I am not sure with the rate of interest because i am paying on time bill.
I am using ICICI card for more than 3-4 years. It is a life time free card. The credit limit is less only, though I got a call from bank and ready to enhance but not accepted from my end. There is EMI conversion option. There is no offers and I am not getting benefits like cash back and reward points. Their service is good.
I am using ICICI bank credit card which was taken through online .I am using this credit card for the past 2 years only ,This card is very useful on all emergency situations ,This was a life time free card and this card is playing vital role on when dont have cash on hand ,nowadays this credit card is used by everyone and the service was really good .
I am using ICICI credit card for more than two years, I apply the card because at that time I was in need. I don't remember how much is the credit limit, because I had check it long time back. The customer service is very good because whenever I call the bank they always give a fast response. I am very much satisfied with the bank.
From ICICI Bank, i am using make my trip signature credit card. I am using for travel purpose and i am getting lounge access and there is a no annual charges only one time joining perks is Rs. 1500 for that they given flight ticket through my wallet, i used that. I am getting reward point added to my make my trip wallet and i can use in any airlines.
I am using ICICI Bank coral credit card, maximum i am using for groceries , shopping all purpose. I applied this card through other channel and EMI facilities are available. The rate of interest was okay and its a good card process. Annual charges is applicable and I am getting 1+1 movie offer.
I got amazon card from ICICI Bank, recently i got this credit card . What ever we purchase in amazon I am getting 5% discount, still yet to start this card. I have applied this card through amazon app and the process was done by online itself. Their service was quite long and good.
ICICI has provided the credit limit of 50K which is fine to use. I am using this card around 1.5 years. It is an annual fee chargeable of 500 rupees which was processed via bank. I applied through an online shopping so I get cash back and for mobile purchase I get good discount and cash back up to 5%. EMI conversion is applicable.
I am using ICICI Bank Coral credit card more than 2 years. This is a free card and i am getting reward points and cash back offer. It has offer for buy one get one movie tickets and they given a good credit limit, apart from this interest is very low. ICICI app is excellent, its very friendly for the user and the tele calling is good and i am getting reminder. My wife use to shop at big basket got a discount also.
I have been using ICICI card past 2 months which was applied via online. They have offered a life time free card. But the credit limit is not sufficient got only 35K, requested to increased the limit but the banker is saying they can do lesser for a first time. EMI conversion is applicable. It is a platinum card. I use this card for all purposes.