How to cancel a credit card?

2 min read

Using a credit card responsibly can be a great way to improve your CIBIL Score, earn rewards, manage finances, and get complimentary perks. But if you have way too many cards, it is a wise thing to cancel the credit cards that do not use. Closing unused credit cards has no impact on your credit score if you have paid off the dues.

The canceling process can be time-consuming in most instances but with Bajaj Finserv RBL Bank Credit Card, the whole process is much easier. You can cancel, close, or deactivate your card within a few hours with an online process. Alternatively, you can call the toll-free customer care number to do so.

How to deactivate or cancel your credit card online?

Send your credit card cancellation request online to close your credit card. This is a hassle-free process, which can be completed in minutes and requires zero paperwork?

Canceling a credit card can be necessary in case you are not managing your cards well or not using them frequently.

Here are the steps to follow to cancel your Bajaj Finserv RBL Bank SuperCard:

1. Log in: Visit the Bajaj Finserv RBL Bank website and log in to your account using your username and password.

2. Click on 'Credit Card': Once you are logged in, click on the 'credit card' tab to access information related to your credit card.

3. Request cancellation: Next, click on the 'Request Cancellation' button available on the screen. You will be asked to provide a reason for canceling the card.

4. Confirm cancellation: After submitting your reason for canceling the card, you will be asked to confirm the cancellation. Click 'Confirm' to proceed.

5. Settle outstanding balance: Before you can cancel your Bajaj Finserv RBL Bank SuperCard, ensure that all outstanding payments or dues are cleared.

6. Wait for confirmation: After completing the cancellation process, wait for confirmation from the bank about the successful cancellation of your credit card.

How to deactivate or cancel your credit card over a call?

Call the toll-free credit card customer care number to submit an application to close your credit card account. Verify your account with the necessary information and a representative will action your request.

Should you close your credit cards

Closing a credit card comes with its own set of good and bad which depends on your financial behaviour. If you have too many credit cards that go unused, you can cancel or close them for the reasons listed below.

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Frequently asked questions

Does closing a credit card hurt your credit?

Cancelling a credit card may not necessarily hurt your credit score if you have cleared the dues on or before the due dates. It is advised to pay your credit card dues in full every month to positively impact your CIBIL score.

Can I close my credit card online?

Yes, you can close your credit card online in a few easy steps. You can visit your bank’s website and navigate to the credit cards section to do so.

Is it good to close a credit card?

If you have too many credit cards, it is a wise thing to close the cards that you do not use. 

Is it better to cancel unused credit cards or keep them?

If you have credit cards that have been unused for a long time, you can either start using them for smaller payments or close them permanently.

What is the process for cancelling a credit card?

To terminate a credit card, you must first settle any remaining balance. Next, reach out to your bank’s customer support to request the cancellation. Submit a written request for closure and ensure you receive a written confirmation of the closure. Lastly, destroy your card securely.

Are there any fees or penalties for cancelling a credit card?

There are no specific charges for terminating a credit card. However, if the bank does not process the closure within seven working days, they are liable to pay a penalty of Rs. 500 for each day of delay to the customer, provided there are no pending dues.

How does cancelling a credit card affect my credit score?

Terminating a credit card can have a negative impact on your credit score. It decreases your total available credit, which can increase your credit utilisation ratio, and may shorten your credit history. Both these factors can contribute to a lower credit score.

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Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals. 

You can use the Bajaj Finserv App to: 

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  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

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