Credit cards are available by the dozens these days and while the number of people using them are rising, there are also a horde of people looking to cancel their cards. From lack of self control to unhealthy spending habits, the reasons may be different, but at some point, people will look to cancel their credit card. In this page, we will talk about how to go about cancelling a Standard Chartered Bank Credit Card.
How To Close Or Cancel A Standard Chartered Bank Credit Card
Cancelling a SC Bank Credit Card is relatively simple. Here’s how you do it:
- Call the SC Client Care Centre, which is available 24x7, and lodge an official request for cancellation. The concerned parties will carry your request forward and have your card cancelled.
Things You Keep In Mind During The Sc Credit Card Cancellation Process
Here are a few things you should and shouldn’t do when you apply for a credit card cancellation:
Clear the outstanding balance: Before going forward with the cancellation, you will need to clear the outstanding balance first. If you don’t the credit card company may not entertain your request and you will instead receive notice with the balance you are required to clear. However, there are banks that will allow you to close the card and then continue to make payments towards your outstanding balance.
Refrain from using the card: Once you apply for cancellation, you need to stop using the credit card as the usage will generate another statement, which in turn will delay the entire process.
Collect all the rewards: If you have any rewards remaining on your credit card, make sure to use them all up before going ahead with the cancellation. Once the request is filed, the bank may not let you make use of the available points.
Cancel any automatic payments: Credit cards are usually mapped to automatic payments which go out on a particular day every month. Make sure to cancel any of these standing instructions as any unexpected payments during the cancellation process will complicate what you’re trying to do.
Also, once you have sent the request, you will need to cut up your cards up diagonally around the chip and send them to the bank. Only after this process is done will the card company proceed with the cancellation of the card.
Does A Cancelled Or Closed Credit Card Affect The Credit Score?
Closed or cancelled cards do have an impact on your credit score as they are considered as available funds. When you close a card, the available fund limit will go down, which the credit information companies will consider to be a negative. Hence, you are likely to lose out on a few points on your credit score.
Check How to Close or Cancel Other Banks Credit Card Online