Thinking about ‘How Can I Close My SBI Credit Card’ in 2021. SBI is one of the largest & reputed government banks of India, with 2500+ branches all over India. It is a state-owned commercial bank and financial services banking company, established in 1955 by the government. It offered a variety of financial services, one of it’s financial services is SBI Credit Card.
The SBI Credit Card comes with multiple financial solutions, which helps you to do online offline transactions on credit basis. Customers can use it according to their requirements like, it can be used for international transactions, online or offline purchases like doing online shopping & to invest in cryptocurrency in India or patrol filling. It is equipped with a reward option, which helps you to earn reward points on every purchase as per their policy.
Many times we suddenly get into situations where you think of closing SBI Credit Cards. The situation is anything or any type. If you are struggling to understand “How can I close my sbi credit card?” so you are in the right place. In this blog we will share you the methods, which make it easy for you to get the Cancel SBI Credit Card in Just a few clicks away.
How Can I Close My SBI Credit Card?
There are multiple methods to close your SBI Card easily. You just need to provide them with your personal details which actually need to match with your KYC docs which are provided by yourself to the SBI Credit Card at the time of registration. You just need to mention your name, DOB (date of Birth), card number. Please do remember that there is no need to share the details about CVV or PIN / Password.
Multiple ways To Close or Cancel an SBI Credit Card
You can opt for their customer number service by finding it on their official website. You just need to call them and provide some identical information related to SBI Card Owner like DOB (Date of Birth) for termination of your SBI Card. Also, you can directly contact the company via their SMS service or Email service and get in touch with them for the termination process of your SBI Credit Card.
Calling Help Line Number
SBI Credit Card offers you a customer support number, which can help you close or cancel your SBI Card Number. You just simply call them on their customer support numbers like – 1860 180 1290, 1860 500 1290, 39 02 02 02 (prefix local STD code) or try.
After providing them with relevant information related to your account, your cancelation process of the credit card has been initiated by the customer support.
By Contacting Through EMail
You can also contact them by your registered email with full details about your KYC profile with the bank and afterwards they will initiate the cancellation process after successful verification. The process can also run on Chat or phone. If you need to talk with them, you can also request them for call back service.
Missed Call Service
If you are not able to contact them by phone or email, you can also use their missed call service feature. In which, you have to just give them a miss call & they get back to you 48 hrs to 72 hrs.
Directly Write To SBI Credit Card
This is the final method, where you can write them directly and initiate the cancelation process. This method will take time, so try to use Method -1 to 3 as recommended.
You can write them to this address:
Manager- Customer Services
SBI Cards & Payment Services Ltd.
DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City,
Gurgaon -122002(Haryana) India.
Things to Remember Before Going to Cancel Your Credit Card
As per the policy of RBI (Reserve Bank of India) states that, the customer has to right that they can close their credit anytime. Bank has no right to say that credit can’t be closed or force customers to make their credit card active.
But in some cases as mentioned below the bank has the right to reject the cancellation process of your Credit Card.
1. Clearance of Spending Amount as per last bill:- Before going to start the cancellation process you just need to clear your remaining or outstanding payment according to your billing cycle. Without paying the dues your credit card will not be initiated for cancelation process. The cancellation of a credit card is subject to outstanding payments.
2. Credit Card will not be used after the last billing: If you are going to start the cancellation process, make sure you previously did not use the card. If you use the same for some reason, the cancellation process will begin after paying the pending dues.
3. Redeem Rewards Point or Voucher Before Closing the SBI Credit Card:- If you have Reward point or voucher in your account, we advise you to use them. You can also use these Rewards points in the cancellation process in between 40-45 days.
4. Verifying your previous purchases and Bills:- SBI Credit Card holders also advised to verify the last bills & purchases before going to close / cancel SBI Credit Card. So, there is no chance of fraud or cheated on transactions being lived in the statement of account.
If you are having trouble closing your credit card, so you can escalate your cancellation process directly, call on this number @ 1860-180-7777.
How Much Time is taken by the SBI Credit Card to cancel or close the credit card?
There is no fixed timing assigned or stated by the SBI Credit Card about the cancellation period of SBI Credit Cards. It depends on the method you used for the cancellation process & the KYC detail you provided to the bank. If everything is fine, like your verification of documents, credit card dues etc. So, you can get the cancellation of your SBI Credit Card in Just 20-45 days.
What are the drawbacks of cancellation or closed SBI Credit cards?
After cancellation or closing your SBI Credit Card, there are some drawbacks are reported by the customers as mentioned below:
1. CIBIL Score rapidly dropped to 30% :- Many customers of SBI Credit Card reported that their CIBIL Score dropped by 10% to 30%, after cancellation of their SBI Credit Card. Many of Financial experts have stated that the credit utilization and credit limit of the user is badly affected by cancellation of a SBI Credit Card.
However, some financial experts are denied the same. As per their view, there is no impact on credit score history seen after cancelation of credit card. It depends upon you how you previously pay your credit card bills.
2. Less Credit History:- Due to cancellation of SBI Credit Card, your financial behavior is also no more traceable. Due to which, your CIBIL score will get dropped after cancellation of SBI Credit Card.
Credit Cards are very useful financial products, which gives you freedom in many aspects. Many times the situation is not so familiar for customers to handle credit card bills. The above mentioned steps and methods are easy to do. You can cancel SBI Credit Card by mail, call or direct branch visit. SBI Credit Cards have a very simple process to do closing or cancellation of credit cards.
People Also Ask
1. Can Visit the Regional Branch office for Cancelling the SBI Credit Card?
Yes, you can also visit the regional branch office for information cancelling the sbi credit card. But don’t forget to clear your pending credit card bill.
2. Do I have to submit a physical credit card to the SBI Credit Card Branch?
It is not mandatory to submit your credit card to the SBI credit card branch. After initiating the cancellation process, it will be deactivated and no longer useful for transactions, you can also discard after getting the cancellation process successful.
3. How to get the status update of closing the credit card from SBI?
After initiating the successful credit card closing process, the Bank will confirm you on the same via Email or phone. You can also check your CIBIL report, which indicates the successful closing of the SBI Credit Card.
4. There are other hidden charges related to cancellation of SBI Credit Card?
There are no hidden charges except your pending dues.
5. How much credit card can I opt for?
Opting multiple credit cards is not recommended by the financial experts. You can opt for dozens of credit cards. Credit cards are subject to your financial behavior & conditions.
6. What is the bad credit score?
Less than 500 is called a bad credit score. You will face a high rejection ratio in the loan or credit card approval. For better credit score you just need to take small loans and pay their EMI’s on time. It will make your credit score increase after some time.
All the information like customer numbers & head office addresses are added from the official website of SBI Credit Cards. Please check & confirm all numbers before going to connect with SBI Credit Card.
This article is just for informational purposes, kindly do not share your CVV or Credit Card Password/Pin with anyone. www.letmethink.in is not responsible for any losses or damages.