Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Loading your search...
Close

Compare, check your eligibility and apply for credit cards online.

  • Credit Card BYTES FROM OUR KITCHEN

    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.

    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 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 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.

    Check How to Close or Cancel Other Banks Credit Card Online
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.