A credit card is issued by financial institutions that let you borrow funds from a pre-approved limit set by the bank. The limit is set by the institution based on your credit score and your account history. If you have a good credit score, your history will be better, and the limit on your credit card will be higher.
You can use a credit card for online transactions, but you should always remember that you should return money in a certain period to avoid penalty charges. But sometimes, this happens a person feels that it is difficult to maintain a credit card. In that case, one thinks of closing a credit card. Closing a credit card is a simple way. This includes a simple process, and the cardholder need not pay any extra charges to close a card.
How to Close or Cancel SBI Credit Card Online?
The process to Close SBI Credit Card
If you have an SBI Credit Card, you feel that you don’t need it anymore and want to close it permanently, then you can have a look here:
There are two ways to close a card: call the bank’s helpline and send a written request.
By calling banks helpline
You can make a call on these toll-free numbers to close your credit card: 1860-180-1290 or 39-02-02-02. By using these numbers, you can apply for the closing of the credit card process. Remember to use local STD code as a prefix while you make a call.
By written request
You can post your written request to this address: SBI Card, PO-Bag 28, GPO, New Delhi-110001.
Also, remember some points while posting it, mention your name, address, card number, and contact details. You need not mention your confidential information, such as your CVV number or PIN.
Once you have applied for closing your card, the bank will close it within 7-10 working days. And after the closure of the card has been processed, you can cut your credit card diagonally to deactivate it.
Things to keep in mind while closing SBI Bank credit card
While you are applying for the closure process for your credit card, you should remember some things:
- Before you close a credit card, you should make sure that you pay all the outstanding dues. If any dues are there that should be cleared before closing the credit card. If any EMIs are pending, you also need to clear them according to the guidelines laid by SBI Bank.
- Before closing a card, you should check if any reward points are pending or haven’t used them. Then you can redeem these points; you can check the bank’s catalog of rewards and use them to get good discounts. According to the bank’s guidelines, you can redeem these points within 45 days of closing the card.
- You cannot use the card just before the closing of the credit card because this would be count in pending dues, and the bank will generate a statement of payment, and you have to pay the amount.
- While you are canceling a credit card, you should cross-check your statements to make sure that there are no fraudulent transactions.