How to Close an SBI Credit Card Account

SBI credit cards offer a wide range of benefits and lifestyle perks, but managing a credit card can sometimes be challenging, or you may simply want to upgrade. If you rarely use your credit card, closing it might be a smart choice. Find out how to close your SBI credit card account.

You can close your SBI credit card account by following one of these simple and straightforward methods:

Call Customer Care

Dial SBI's toll-free helpline at 1860-180-1290 or prefix your local STD code and call 39-02-02-02 to raise a cancellation request.

Send a Written Request

You can send a letter to SBI's customer service requesting the closure of your credit card. Ensure that your letter includes essential details such as your name, card number, and contact information. Send your letter to:

SBI Cards & Payment Services Ltd.

DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City,

Gurgaon -122002(Haryana) India.

Email

Alternatively, send an email to customercare@sbicard.com with your card cancellation request.

Before your card can be cancelled, make sure all outstanding dues are cleared. Failure to do so will keep your card active and may result in penalties. Also, remember to cancel any automatic payments linked to your credit card to avoid additional charges.

Knowing how to cancel your SBI credit card can be useful in urgent situations. However, here are a few important points to keep in mind before deactivating your card:

• The cancellation of your card will only be complete once all dues are cleared; otherwise, the card will remain active and may attract penalties.

• Ensure you cancel any automatic payments set up for your credit card to avoid unnecessary charges after cancellation.

• Review your most recent credit card statement to ensure no fraudulent transactions have been made on your card.

• Do not make any new purchases on the card you intend to cancel, as this will create an outstanding balance that must be settled.

• Be sure to redeem any accumulated reward points to take advantage of any remaining benefits.

• Cancelling your credit card may reduce your overall credit limit, which could increase your credit utilisation ratio and negatively affect your credit score.

• If there are active EMIs or loans tied to your card, ensure these are cleared before requesting cancellation.

• Retain the physical card until you receive cancellation confirmation, then destroy it by cutting it diagonally to prevent misuse.

• Any add-on cards linked to your primary card will also be cancelled once your primary card is deactivated.

• Once your cancellation request has been successfully processed, request and save the confirmation as proof of cancellation for future reference.

Before cancelling your credit card, it's important to understand the potential impact on your financial well-being. Being aware of the consequences is crucial. Here are some key effects of cancelling your credit card:

Impact on your Credit Score 

Closing one of your credit card accounts can reduce your overall credit limit. If your daily expenses remain the same, you may need to rely more on the available credit from your other cards. This uneven balance in your credit utilisation ratio can negatively affect your credit score.

Impact on your Credit History 

Cancelling your credit card may also erase the credit history associated with it. A shortened credit history can negatively affect your credit score and reduce your chances of securing future credit options.

Reduced Total Credit

Cancelling your SBI credit card can remove an instant line of credit. Without this immediate financing option, you will also lose access to buy-now-pay-later benefits and EMI perks.

Termination of Add-on Cards and Other Benefits

Most SBI credit cards offer free add-on cards. However, if you cancel your primary card, all add-on cards will also be cancelled. Additionally, you will miss out on attractive merchant discounts, offers, rewards, fuel surcharge waivers, and other perks associated with your credit card.

You can request the reactivation of your cancelled SBI credit card using the following methods:

• Call the toll-free SBI credit card customer care helpline at 1860-180-7777, or 1860-500-1290, or use your STD code and call 39020202.

• Alternatively, you can use the ‘Write to Us’ portal and submit an online query form, detailing your request for credit card reactivation.

Note: Your credit card will only be reactivated once all documentation and other formalities required by the bank's policies have been verified and completed.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.