Cancelling a credit card requires careful evaluation to avoid any financial or credit-related impact. DBS Bank issues various credit cards with different features, but you may decide to close your credit card account for reasons like managing expenses or switching to a better option. If you wish to cancel your DBS Bank credit card, understanding the correct procedure can help ensure a smooth process.
The bank provides a digital option to close your card without visiting a branch. Here’s how you can do it:
Visit the official DBS Bank website and sign in using your registered credentials.
Find the credit card option within your account dashboard.
Look for the option to close or cancel your credit card, usually found in the settings or service requests section. The system will guide you through the cancellation process.
Provide any necessary detail as prompted.
For security reasons, you may need to authenticate the request using an OTP or other verification methods.
If you prefer cancelling your DBS Bank credit card offline, you can do so by following these steps:
By Calling Customer Care:
Contact the DBS Bank customer care helpline and request credit card cancellation.
The representative will guide you through the process.
By Visiting the DBS Bank:
You can also cancel your credit card by visiting the nearest DBS Bank branch and submitting a request in person.
Carry valid identification and any required paperwork as per the bank’s policy for card closure.
At the branch, a customer service executive will assist you with the formalities and ensure the cancellation request is processed smoothly.
If you have trouble cancelling your credit card, contact DBS Bank customer care using the details below:
For customers in India:
1860 267 6789For customers calling from overseas:
+9144 69046789- For assistance via email:
cardcareindia@dbs.com
Cancelling a credit card is a personal decision that depends on your financial situation and needs. Here are some instances when closing your DBS credit card might be a suitable choice:
If you hardly use your DBS credit card, keeping it active may not be beneficial. Closing it can help simplify your finances.
If the annual charges on your credit card outweigh the benefits, you might want to reconsider keeping it
If another credit card offers better rewards, lower fees, or features that suit your financial goals, switching might be a good idea
Before proceeding with credit card cancellation, consider these important factors:
Clear Outstanding Dues
Ensure that your credit card balance is fully paid off to avoid penalties or negative impacts on your credit history
Update Auto-payments
If your card is linked to any recurring payment, update the payment method to prevent service disruptions
Impact on Credit Score
Cancelling a long-standing credit card may affect your credit score. If it is your oldest card, consider the potential impact before making a decision.
Frequently Asked Questions
What are the steps to close a DBS credit card account?
You can close your DBS credit card online via internet banking or by contacting customer care. Alternatively, visit a DBS Bank branch and submit a cancellation request along with necessary documents.
Is there any fee or outstanding balances that need to be cleared before closing a DBS credit card?
Yes, you must clear all outstanding balances, including any pending EMI or fee. If cancelling around the renewal period, check whether the annual fee is charged. In some cases, you may need to request a waiver from customer service.
How long does it take to process the closure of a DBS credit card?
DBS Bank processes credit card closure within seven working days after clearing all dues. If the bank delays the closure without valid reasons, a penalty of ₹500 per day is payable to the cardholder. You will receive confirmation via email or SMS once the process is complete.
How to cancel dbs credit card annual fee?
You can request a waiver for the annual fee through the DBS Digibot, available 24/7, or by contacting DBS Phone Banking.
How do I terminate my DBS credit card?
To terminate your DBS credit card, cut the card diagonally across the magnetic strip and chip. Submit the cut card along with a written request at a DBS Bank branch or request termination via customer service or email.
If you have an additional card, the primary cardholder must notify the bank in writing, but they remain liable for any charge made on it. Note that no annual fees or charges will be refunded on a pro-rata basis.
