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how to close or cancel your SBI credit card?

how to close or cancel your SBI credit card?

January 1, 2022
5 min read
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having a credit card is of great benefit, however, you might just want to close one due to multiple reasons such as unnecessary spending, a spike in bills, or not using the same. so if you are an SBI credit cardholder and planning to close the same, you can do it through online and offline ways that are mentioned below:

ways to close SBI credit card online

you can close your SBI credit card online by sending an email to the official email ID of SBI through your net banking account. you need to log in to your internet banking account using your credentials and send a closure request for credit card closure. after sending the request for closure, you will receive a unique interaction ID on your registered mobile number. and, further, the bank will contact you to close your SBI credit card.

ways to close SBI credit card offline

call the customer care number for cancellation
you can call SBI’s customer care number to cancel your credit card. the bank has a toll-free number or a landline number that you can dial with the local STD code for credit card cancellation. after making a call to the customer care department, you need to provide the requisite information like your name, card number, contact details, and address. moreover, never provide your card’s CVV number or PIN if someone asks. after successfully initiating the cancellation request, the bank will contact you and provide the details of the cancellation. 

write a cancellation request to SBI
except for calling the bank’s customer care department, you can write a cancellation request letter to the bank and send the same to SBI Card, PO Bag 28, GPO, New Delhi 110001. mention your name, card number, address, and contact details in the cancellation letter. also, don’t mention confidential information like PIN or CVV in the letter. your card will be deactivated, once your account is closed. also, the bank will provide you a written confirmation regarding your credit card’s closure. a word of caution, cut the card diagonally till its closure and to prevent its misuse. 

visit the nearest SBI branch
you can request a bank official at the nearest SBI bank branch to close your SBI credit card. make sure to carry all the necessary documents along with the SBI credit card that you want to close.

factors you must consider before you close your SBI credit card

pay your dues
clear all your outstanding dues and EMIs as per bank’s guidelines before closing your credit card account. also, you will be notified by the bank regarding the same through a letter. once you clear all your dues, your credit card cancellation request will be initiated by the bank.
make your SBI credit card payment via CRED to earn cashback and rewards.

redeem your reward points
after clearing your outstanding dues and EMIs, check your credit card for unused reward points. redeem these reward points within a period of 45 days after cancelling the card and get some attractive gifts and offers from the bank's catalogue. 

don’t use the credit card after cancellation request
it is advised not to use the credit card while the cancellation process is in progress. moreover, if you make any fresh payment using the credit card, your cancellation request will be revoked by SBI.

check the latest statement for fraud
before you request for cancellation of your SBI credit card, check your latest statement for any kind of fraud.

what are the consequences of closing your SBI credit card?

while you close your SBI credit card, you will be affected in different ways that are mentioned below:

credit score
after you close your credit card, your credit score will be lower and you will have a lesser credit limit. in India, credit score ranges from 300 to 900, and 900 is considered as the best score. this score is calculated on the basis of your payment history, credit mix, credit history length, and new credit. moreover, it is advised to improve your credit score if you see a downfall.

credit history removed
your credit history is decided on the basis of your card usage and repayment schedule. and, if you close your credit card this means your credit history will also be removed. credit bureaus calculate your credit score after considering the history of your credit card.
therefore, it is advised to maintain a decent credit score to avail of numerous advantages. and, the same should be considered while you choose to close your SBI credit card.

difficulty in handling emergencies
it is important to maintain a decent credit score as a credit card is not just used for shopping, booking movie tickets, and other lifestyle needs. moreover, the card can also be used for medical emergencies like hospitalization, buying medicines, and more.

what are the benefits of credit score?

competitive terms on loans and credit card
a good credit score helps you in getting the best of terms like rate of interest and tenure from SBI while applying for a loan or a credit card. also, you are considered to be sanctioned a higher loan amount and lower processing fee.

faster loan and credit card approval
your loan and credit card applications will be processed faster because you will be in the low-risk borrower category.

higher credit limit
a higher credit limit will be provided to you in comparison to the applicants who do not have a credit history. 

best rewards and offers
a decent credit score helps you get exciting offers and rewards from SBI's brand partners. 

pre-approved loan offers
if you have a decent credit score, SBI will consider you for pre-approved loans with better repayment terms and lower interest rates. 
there are numerous benefits of credit cards, but if you still want to close or cancel your credit card due to some financial glitches, then you should make your credit card payment and clear all your outstanding dues as well as redeem your reward points before closing your SBI credit card.

frequently asked questions

q. how can i close my SBI credit card online?

a. write an email for closure request of your SBI credit card and send to the official email ID of the bank through your internet banking account.

q. how can i close my SBI credit card account permanently?

a. you can permanently close your SBI credit card account by calling the helpline number of the bank or writing a letter to the bank. after placing the closure request, it is suggested to diagonally cut your credit card.

a. can the bank close my SBI credit card account without asking me?

a. the bank might close your credit card without enquiring in case of inactivity, negligence, or numerous defaults in payments.

a. should i deactivate my unused SBI credit card?

a. it is suggested to close your SBI credit card if you are not using the same to avoid paying the annual fees.

a. in what cases should i close my SBI credit card?

a. if you are not using your credit card or upgrading your current SBI credit card then you can request for the closure.

a. will i have to close my add-on cards individually?

a. once your primary SBI credit card has been closed, the add-on credit cards will be closed automatically.

q. when will my credit card account be considered as closed by SBI?

a. a written confirmation will be sent by SBI once your SBI credit card is closed. also, the closure details of your credit card will be mentioned in your credit report.