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    How to Close or Cancel SBI Credit Card

    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 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.

    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 sbicorporate.services@sbicard.com. 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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