Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • How to Close or Cancel ICICI Credit Card

    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 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 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.

    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.

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