How to Close or Cancel Indusind Credit Card

Credit cards have become a major source of transaction for a vast majority of people these days. While the number of users are rising on a daily basis, the attrition rate too is on the rise, with people looking to cancel their card due to a number of reasons. In this page, we will give you clear information about how to close or cancel an IndusInd Bank Credit Card.

How To Close Or Cancel An Indusind Bank Credit Card

IndusInd Bank has set a clear procedure for cancellation, which it clearly explains in its cardmember agreement. According to this, each member looking to cancel their Indusind Credit Card need to submit an official request for termination of their credit card to the nearest IndusInd Bank branch. The bank will then take a few days to process the request before cancelling it.

IndusInd bank credit card customers can call the bank’s 24-hour helpline to cancel their membership with the bank. Dial 1860 267 7777 which is available 24x7, and lodge an official request for cancellation.

Things To Keep In Mind When Cancelling Your Indusind Bank Credit Card

Here are some of the do’s and don’ts you need to know before cancelling your IndusInd Bank Credit Card needs to follow:

The Do’s:

• Clear your outstanding amount: Before filing the request, make sure to clear off the outstanding debt on your card. This doesn’t just include the primary card, we’re also talking about any supplementary card you have taken from the bank. Doing so will save you the embarrassment of the bank sending a letter listing out balance that needs to be cleared.
• Collect the rewards: In case you have any credit card reward points still pending on your credit card account, make sure to redeem them before sending in the termination request. The bank offers a 30-day window after the cancellation request is sent, within which you need to redeem the points. Once this period is over, your points will lapse.
• Cancel automated payments: Automating payments on your credit card is simple and it saves you the effort of paying each and every bill individually each month. If you have any payments mapped onto your credit card, make sure to cancel them off before cancelling the credit card. Failure to do so could leave you with an additional bill statement, and you will be required to clear the bill to start the cancellation procedure all over again.

The Don’ts:

• Don’t use the card: When you decide to cancel the card, stop using it for any transactions. Why go through the hassle of clearing bills again, when you have clearly decided you don’t want to cancel the card and receive another statement.
• Don’t keep the card: The bank asks you to send the card to them but defacing it across the magnetic chip. Make sure to abide by this directive. In case you don’t and any fraudulent charges are made on the card, you will be the one responsible for clearing the bill.

Does A Cancelled Or Closed Credit Card Affect The Credit Score?

Yes. A cancelled credit card can have an impact on your credit score. Even more so, if the card you canceled is the oldest one you’ve had. Also, closing a card will reduce your available credit and increases the credit utilisation ratio, which the bureaus conclude as you increasing your expenditures. This could have a negative effect on your credit score.

FAQs on How to Close or Cancel Indusind Credit Card

1. In how many days will my request for termination of IndusInd Bank credit card be processed?

   Once the request is submitted, the card will be cancelled by the lender within 7 – 10 days.

2. Can I submit an official request for cancellation of my card through the bank’s 24-hour helpline?

   Yes, you can submit a request for cancellation of your IndusInd Bank credit card through the lender’s 24-hour helpline.

3. Should I destroy the card upon cancellation?

   Yes, ideally the card should be destroyed once cancellation is confirmed. You need to cut the card into two halves.

4. Is it necessary to clear all dues on the card before cancelling the credit card?

   You have to clear the pending dues on the card before requesting cancellation of IndusInd credit card.

5. What is the 24x7 customer care number of IndusInd Bank?

   The customer care number of IndusInd Bank is 1860 267 7777.