Although credit cards are one of the most attractive debt instruments in the market, they are difficult to maintain and sometimes owners have to close them. The process is simple. Let us now look at how to close an SBI credit card.
- Call on the toll free number 1860-180-1290, or 39-02-02-02. This can help you to close or cancel your credit cards.
- You can write to the given address SBI Card, PO- Bag 28, GPO, New Delhi-110001.
- Personal details like name, address, card number and contact details should be mentioned. The credit card owner should refrain from providing any personal information like the CVV in this process.
- You can dispose of the cards by cutting them diagonally. Once the primary card is deactivated, the secondary cards get deactivated automatically.
Does a canceled credit card affect your credit score?
If the credit card owner places a request for cancellation of the card, it results in a decrease in the credit limit. The decrease in the limit increases the credit utilization ratio. This has a negative impact on the credit score. If the owner has only one card, then it might not affect the credit score.
Things to check before canceling a card
All the dues should be paid by the holder.
Once all dues are paid, then only the cancellation process starts.
Redeem all the points on the credit card
You can use the unused points till 45 days after the request for submission.
Do not use the card just before putting in the cancellation request.
Check your credit card statement regularly.
How to reactivate an SBI card?
Applicants can call the bank on their SBI credit card helpline number at 1860-180-1290, or 39-02-02-02.
write to them at firstname.lastname@example.org
After receiving all the documents, the bank will reactivate the SBI card.