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