SBI credit cards are a popular choice for many individuals due to their attractive rewards and cashback offers. However, circumstances may arise where you may need to close your SBI credit card. Maybe you have too many credit cards, or you are unhappy with the credit card’s services, or you want to avoid the annual fees associated with the card.
Regardless of the reason, it is essential to know what ways to close your SBI credit card to ensure a smooth and hassle-free closure process.
There are two ways to close your SBI credit card:
Close Your SBI Credit Card Via Online
#1. By Writing an Email
You can close your SBI credit card online by writing an email to SBI official email ID at [email protected] from your net banking account. The online method is the easiest way to close your SBI credit card.
Follow these steps to close your SBI credit card online:
Step #1. Log in to your internet banking account using your credentials.
Step #2. Write an email to [email protected] for closure of SBI credit card and send a closure request.
Step #3. You will receive a unique interaction ID on your registered mobile number.
Step #4. Once your request is approved, SBI will contact you to cancel your credit card.
Ways To Close SBI Credit Card Offline
If you prefer the offline method, there are three ways to close your SBI credit card:
#1. Calling the SBI Card Helpline for Cancellation
To cancel your SBI credit card through the customer care number, follow these steps:
Step #1. Dial SBI customer care number 1860-180-1290 (Toll Free) or 39 02 02 02 (Prefix local the STD code) from your registered mobile number.
Step #2. Follow the instructions provided by the IVR system and select the option to talk to a customer care executive.
Step #3. Provide your credit card details and explain that you want to close the card. However, never provide your card’s CVV number or PIN if someone asks.
Step #4. The customer care executive may ask you the reason for closing the credit card. You can provide the reason if you want, but it is not mandatory.
Step #5. The executive will initiate the cancellation process and provide you with a reference number for future reference.
Step #6. Then the bank will contact you and provide the details of the cancellation.
#2. Write a Cancellation Request to SBI
Step #1. Write a letter addressed to the SBI Credit Customer Service, DLF Infinity Towers, Tower C, 10th-12th Floor, Block 2, Building 3, DLF Cyber City, Gurgaon – 122002, Haryana, India requesting for the closure of your credit card.
Step #2. In the letter, mention your name, address, credit card number, and contact details.
Step #3. State the reason for canceling the credit card, if you wish.
Step #4. Sign the letter and attach a copy of your identity proof (PAN Card or Aadhaar Card).
Step #5. Send the letter and the bank will revert you a written confirmation regarding your credit card’s closure.
Step #6. After completing the closure process, cut your SBI credit card into pieces and dispose of it safely. This step is essential to ensure that nobody can misuse your credit card.
#3. By Visiting the Nearest SBI Branch
You can visit the nearest SBI branch and submit a written request for the closure of your credit card. You will need to fill in the credit card closure form and submit it along with a copy of your identity proof.
Things to Remember Before You Close Your SBI Credit Card
#1. Pay Off Any Outstanding Dues
The first and foremost thing you need to do before closing your SBI credit card is to pay off any outstanding dues & EMI. You can’t close your SBI credit card if you have any unpaid balance. If you have any pending dues, make sure to clear them before proceeding with the closure process.
#2. Redeem All Your Reward Points
If you have any reward points left in your SBI credit card, make sure to redeem them before initiating the closure process. You can redeem your reward points for gift vouchers, cashback, or other options available.
#3. Don’t Use the Credit Card During & After the Cancellation Request
It is recommended once you have initiated the process of closing your SBI credit card, do not use the card for any transactions. Any transactions made after initiating the cancellation request may lead to revoked the cancellation request.
#4. Check Your Latest Statement for Fraud
Before you close your SBI credit card, make sure to check your latest statement for any fraudulent transactions. If you notice any unauthorized transactions, report them to the bank immediately. It is essential to resolve any issues related to fraudulent activities before closing your credit card to avoid any legal or financial issues in the future.
What Happens to My Credit Score if I Close My SBI Credit Card?
Closing your SBI credit card can impact your credit score, but the impact may not be significant. Your credit score is affected by various factors such as payment history, credit utilization ratio, and length of credit history.
Credit utilization ratio is the amount of credit you use compared to the total amount of credit available to you. It is one of the important factors in calculating your credit score. If you have a high credit utilization ratio, it may negatively impact your credit score.
If you have a good credit history and a low credit utilization ratio, closing your SBI credit card may not have a significant impact on your credit score. However, it is advised to improve your credit score by paying off any outstanding balances, reducing your credit utilization ratio, and maintaining a good credit history.
Frequently Asked Questions (FAQs)
#1. What Should I Do if my SBI credit card is lost or stolen?
If your SBI credit card is lost or stolen, you should report it immediately to SBI customer care at 39 02 02 02 (prefix your local STD code) or 1860 180 1290. The customer care executive will guide you through the process of blocking your credit card to prevent any unauthorized transactions. After blocking your credit card, you can initiate the process of getting a replacement credit card.
#2. Do I need to close my add-on cards separately?
No, once the primary SBI credit card is closed, all add-on credit cards linked to it will be automatically closed as well.
#3. When will my credit card account be officially closed by SBI?
SBI will send you a written confirmation once your credit card is closed. Additionally, the details of the closure will be reflected in your credit report.
#4. Is there any penalty or fees associated with closing SBI credit cards?
There are no penalties or fees associated with closing your SBI credit card. However, if you have any outstanding balance or dues, you will have to pay them before closing your credit card.
Closing your SBI credit card is a straightforward process, but you need to ensure that you follow all the necessary steps to ensure a smooth closure process. Before initiating the closure process, make sure to clear all your outstanding dues and redeem all your reward points. If you have any issues or queries, you can always reach out to the SBI customer care number for assistance. Additionally, remember to dispose of your credit card safely after cutting it into pieces to prevent any misuse.