Credit card, no doubt is an integral part of your banking facilities, but there comes a time when you get used to paying your bills over cash or debit card and find credit cards unnecessary to use, or it may so happen that you are finding it hard to maintain a credit card. You might also want to change your credit cards to something that suits your financial needs better. In such cases as mentioned earlier, It is always advisable to cancel or close HDFC credit card, since you do not wish to use it anymore. HDFC Bank, one of the premier banks of India, has many procedures for canceling or deactivating your credit card. All the account holder has to do is to follow specific simple procedures to close their credit card. It takes about 7-10 days to the maximum, for the bank to process your request. Check simple steps to how to close HDFC credit card below.
Important Things to Remember Before you Close an HDFC Credit Card:
You can deactivate your card whenever you want to, but before you do that there are a few things you need to do:
- Paying back all dues: Make sure that you have paid back all the outstanding amounts or all the EMIs on that credit card before you cancel a credit card. If you do not pay the outstanding amount or do not settle all the EMIs, then the bank will notify them with a call or an email on your registered phone number. If you do not pay back all these dues, then your request for cancellation will not be processed. According to the bank’s terms and condition, it is mandatory for the account holder to pay back all the remaining dues.
- Redemption of all your reward points- Before you apply your request for cancellation of your credit card, the cardholders are advised to check the number of reward points which are yet to be redeemed. You can use these points for your benefits and some attractive products from the band’s catalog of rewards. You can also use these points to utilize certain handsome discounts on some specific products and services.
- No use of credit card just before you cancel it- If the cardholder uses the credit card which they want to cancel, then you should not use it just before its cancellation otherwise the bank will not take the process forward. If current dues are deposited on your credit cards, then it will lead to cancellation and termination of the process. The bank will come up with your request only when all the current dues are paid off.
- Check on your last statement – Before you cancel your credit card, you should check your previous credit card statement thoroughly to make sure that there had happened no fraudulent transaction has been made on your card. It is also necessary for you to destroy the card by cutting it diagonally when the bank has terminated the card following your request.
How to Close HDFC Credit Card – Ways to Cancellation Permanently:
Follow the processes below to cancel your credit card:
- Call helpline number: – You can call their toll free number 1800-425-4332 and cancel your credit card at any time you want.
- Writing a letter to the manager – To do this, first, you have to download the credit card closure form, from HDFC’s official website hdfc.com. After you fill it up, you write directly to the manager on the address, Manager, HDFC Bank Credit Cards, PO Box 8654. Alternatively you can send a letter manager of the corporate office on the same address. In the letter, do not forget to include details like your card number, name, address, and contact details. However, do not fill in confidential information such as card’s CVV number or the PIN of the card that you use.
- Final step – After you have done all the steps needed to cancel your credit card, your next step is to cut the credit card you want to cancel diagonally so that it cannot be used in the future. Also, when your primary credit cards get canceled, your add on credit card will get terminated eventually; you do not need to cancel them separately.
A closed or canceled credit card will affect your CIBIL score only if you own more than one single card and also are using them all at the same time. If such is the case, then on cancellation of this credit card will mean reduction that your credit limit will be reduced leading to an increase in your credit utilization ratio. Therefore, this might hurt your CIBIL score. But, since you can use your credit card to build your credit score from scratch, at that time canceling it might not be a good idea if you do not have other means to make their CIBIL score.