Tips and Procedure to Cancel a Credit Card

The number of credit card users has steadily gone up over the last few years. Consequently, many users have often considered cancellation of their existing card to avail a better option. Any user thinking about how to cancel a credit card should keep in mind that there are a few negative impacts of cancellation too. Consequently, a few tips can ensure that the negative impacts are minimised while most of its advantages are availed.

While usually cancellation automatically deactivates automatic payment options, it is advisable for users to check it personally. This ensures that they do not end up paying unnecessary extra charges due to technical glitches. The CIBIL score of an individual is immensely impacted by credit cards. While maintaining a credit card such as a Bajaj Finserv RBL Bank SuperCard properly can develop the CIBIL score, cancelling one will impact it negatively.

Additionally, customers should also see to it that they have a written statement from the financial institution declaring that the line of credit has been closed. Before finally cancelling, however, users must ensure that they have utilised all the reward points that had accumulated on their card.

For users looking for how to cancel a credit card, there are primarily 4 methods of cancellation. Users can call the customer care or submit a written request by post. Emailing is another option that can be used by users. 

Online cancellation via app or web portal is the most convenient of methods with easy access to users. In case a user is considering cancelling his or her existing card to apply for a new one, generally, financial institutions offer easy applications with pre-approved offers.

Here is how to Obtain Username And Password For Your Credit Card-RBL-Bajaj Finserv