Although credit cards are one of the most useful products in the world of finance, sometimes, cardholders find it difficult to maintain them. Also, they might feel the urge to opt for a different card altogether. In such cases, cardholders would need to close or cancel the credit card that they want to stop using. This involves a simple process and will ensure that the cardholder doesn't have to pay unnecessary fees and charges. Let's take a look at the importance of closing or cancelling a credit card and the process involved in it.
How To Close Or Cancel An SBI Credit Card?
SBI credit cardholders can close or cancel their SBI credit cards using the methods listed below:
By calling the Helpline number: SBI credit cardholders, who want to cancel or close their credit card account, can do so by calling the toll-free number,1860-180-1290, or 39-02-02-02 (by using the local STD code as prefix).
By writing to SBI placing a request to close the credit card on the following address: SBI Card, PO- Bag 28, GPO, New Delhi-110001.
The cardholder will need to mention their name, address, the card number, and their contact details. They should refrain from mentioning confidential information like the card’s CVV number or PIN.
Once the cardholder has initiated the process of closing or cancelling the credit card, they can cut the concerned card diagonally. Once the primary cards are terminated by the bank on the cardholder’s request, all the add-on cards availed will also get cancelled automatically.
Things To Check Before Closing Or Cancelling An SBI Credit Card
Though it is understood that a cardholder can cancel or close a credit card any time they want to, there are a few points that they should check before initiating the process of cancellation. Listed below is a checklist for cardholders for the same:
Make sure that the dues are paid: In case the cardholder has an outstanding due on the credit card that they want to close or cancel, the bank will notify them by sending them a letter. Only once the cardholder clears the pending amount, will the credit card cancellation process be initiated. According to the guidelines laid by SBI, before the cardholder initiates a process to cancel or close their credit card, they should settle all outstanding balance and all the EMIs that the card in question carries.
Redemption of reward points: Before closing or cancelling their SBI credit card, the cardholders should check their reward points that haven’t been used. They must redeem them for products from the bank’s catalogue of rewards or use them to bag good discounts. Cardholders can redeem the unused reward points within 45 days of cancellation of the card.
Card should not be used just before initiation of cancellation: It is not advisable to use the card just before initiation of the cancellation process as it will still generate a statement of payment that the cardholder will need to pay. Also, the bank will not entertain a cancellation request if there’s a fresh payment due on it.
Latest statement should be checked thoroughly: Cardholders should thoroughly check the latest statement of the card that they wish to cancel to make sure that there are no fraudulent transactions made on it.
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Does A Cancelled Or Closed Credit Card Affect The Cardholder’s Cibil Score?
If a cardholder owns a number of credit cards and chooses to cancel one of them, the amount of credit available to them reduces to some extent. This leads to an increase in the credit utilization ratio which ultimately has a negative impact on the cardholder's CIBIL score. In case, the cardholder has only one credit card that they wish to cancel or close after paying all the dues on it, they can do that without disturbing their credit score.
How To Reactivate A Closed SBI Credit Card?
Applicants can call the bank on their helpline number 1860-180-1290, or 39-02-02-02 (by using the local STD code as prefix) or write to them at firstname.lastname@example.org. After the completion of necessary documentation and formalities, the bank will reactivate their closed or cancelled SBI credit card.
Check How to Close or Cancel Other Banks Credit Card Online
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I am using SBI credit card which was offered by Bajaj Finserv. This was a simply save card and using almost for 6 to 7 months.The credit limit was less of 30K. If it is increased it will be good to me. I am getting good reward points as well as cash back offers.Tried to redeem the reward points through online but unable to redeem that was the issue.
Fraud call comes. Information leaks from sbi card. Please avoid taking this card, I got a call from this number from 7064177052 and it knows my registered number and expiry date and which card it is. Please do not take this card if you want to avoid fraud
I am using SBI credit card more than 2 years. From SBI they given for an annual fee chargeable card Rs. 499, but there is an option for a waiver off for a certain amount usage within a year. The limit is given for a sufficient and good. Customer service and responsiveness was good.I am getting reward points, i got 500 points still i haven't used.
I have been using SBI credit card for the past 6-7 months. Customer service was excellent in this bank and credit limit was good. Annual charges for this card is Rs. 500 and waiver off i am not sure but this card is very helpful for me. I am having one application and am receiving my credit card statements through that.
I have SBI credit card which was taken through Online .This card is good to use and the credit limit was ok .There are very useful cash back offers as well as reward points .There was proper callback and follow up from bank end .I have submitted the required documents through the agent .
I have SBI credit card which was taken through Online.I have got this credit card recently not even a week but used once.The credit limit was sufficient and this was a chargeable one .I have not checked any cash back offers as well as reward points .I am satisfied with the service.
I have taken a IRCTC SBI PLATINUM credit card. I am using this card more than 2 and half years. This is a life time free credit card. I am getting reward points for that i can book train ticket booking. Customer service and responsiveness was good.
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Reviewed on Nov 29, 2019
I have SBI credit card which was taken through Online . I am satisfied with their service so far .They have provided with good credit limit, I am using this credit card for the past 3 months. It is good to use and there was no issues. I am satisfied with the service as well.
I have taken SBI bank credit card recently. This is a life time free card and also i am using this card for fuel purpose, some times i will do other shopping. Credit limit is okay and also this international card. Customer service and responsiveness was good.
1)Pending Interaction Id :- 1-627921969192) Pending Interaction Id:- 1-640283402353) Pending Interaction Id:- 1-64685599909
I think above pending interaction ID showing your service and and you customer care capability.if any one responsible person reading this email kindly show your seniors.
Â I Will definitionally close my card asap because your service and commitment.
Do not Take SBI Cards. No security at all. My all details of the card got leaked from SBI and I became entrapped in money fraud. SBI is so irresponsible that they even don't take any responsibility and saying that the money to be paid by me. #Wah #SBI #Wah
I am holing a State Bank of India credit card I have been using this card for the pas 6 months. SBI's rate of interest is very low in comparison to other banks. Credit limit is also sufficient. I am getting good cashback. It's not a lifeitme free card.
I got a credit card from State Bank of India which is Co-branch of KVB. I have been using Platinum card for about 3years. The annual fee is not applicable since am a staff of KVB. They have offered a limit of 75K and it wil be happy if they could do higher also. Am getting an offers for fuel filling and Amazon purchase which I never used it. Once I paid the payment delayed for one day, they have charged me highly.
I am using State Bank Of India credit card which was taken through Bank direclty.I am using this credit card for the past 2 years ,The credit limit was really good and it was upto 50,000.This was a free card ,customer service is really good and banking service is also good ,I have got all the required details about the card process very clearly through the agent .
I use SBI credit card for a year, they have provided me a balance transfer option which is good. I haven't interacted with the customer support. The credit limit is decent. The annual fee is applicable of Rs.300 or 400. I am getting reward points and discounts when I am doing shopping from Big Bazaar.
I am using a State Bank of India credit card. I have been using this card for the past two years. Credit limit is only 57 thousand, I was expecting at least 1.5 lakhs. it's a lifetime free credit card. Their bill payment system is very simple and easy.
I am holding a State Bank of India Credit card for the past 2-3 years. I am really happy with the features of this card. Credit limit is also sufficient for me. Annual fee is chargeable. There is reward points and offers. Bill payment is very easy.
SBI credit card rate of interest is huge for the emi I have been holding this card for last two years. I converted Rs.25,000 into emi for nine months of duration with the interest rate of 9.5% per annum its should be reduced as per the market. But I like this card because many offers provided by SBI especially at amazon, big bazaar shoppings.
This is a good card I am using it for last 5 to 6 years but I have concern about my SBI credit card limit though I am an existing customer they didn't increase the limit and I have good credit score as well so they should consider. But they do have airport lounge or travel bookings discounts.
I am holding a State Bank of India credit card. I have been using this card more than 2 years. My credit limit is very less, it's only 35 thousand. Their charges are more in comparison to other banks. I am not satisfied with their customer service, very difficult to reach them.