Closing credit card can be useful to avoid charges and theft. Closing a credit card is quite easy, it can be done on your mobile phone or by visiting the branch. Adopt the process given below for cancellation of your credit card.
Note: Before Cancelling Your HDFC Card, Kindly Check Actual Outstanding Amount Present in Your HDFC Credit Card. Use It in Online Payments and Clear All the Dues in Card Account. Also Redeem All the Reward Points Present in Credit Card
Cancelling HDFC Credit Card by Calling HDFC Credit Card Customer Care
Receive Counter Offer Call.
Once you have applied for your HDFC Credit Card cancellation, you will receive a call from HDFC customer executive. They will tell you about additional offers they can provide on your card or other cards. If you find their proposal attractive, then you can go for one else you can ignore this call.
- If you choose to ignore counter offers, then customer care executive will ask you certain questions like your reason for HDFC Credit Card cancellation and other card details. Answer all these questions to proceed further.
Clear Outstanding Amount in Your Credit Card.
Clear due payments which include all the expenses incurred on your card, also the interest, fees and charges associated with card. Maintain record of these payments as proof.
Write a letter to HDFC Bank Credit Card Division.
Write a letter to HDFC Bank Credit Card Division. You can check the letter here in PDF format.
Now, you need to fill HDFC Credit Card Closure form, which you can download from here. And, send the filled form along with the letter and the diagonally cut credit card at the following address – Manager, HDFC Bank Credit Cards, P.O. Box 8654 Thiruvanmiyur, P.O. CHENNAI 600041
Call of Acknowledgement.
Again call customer care executives and inform them that you are done from your side of duties.
Note: It Takes 7 Days from The Receipt of Written Request to HDFC Bank Credit Card Division to Process. Make Sure to Ask for NOC for The Credit Card After Settlement Of Your Credit Card. It's Important!
Cancelling Your Credit Card Without Affecting Your Credit Score
Credit score is the basic source used by banks and credit card companies to evaluate the potential risk posed by lending money to you. Therefore, somehow closing of credit card possess an effect on your credit score.
If you do not want your credit scores to be affected, then kindly keep these points in mind.
- Never close your older credit card, unless you have decided not to own a credit card in future. Old is Gold, and the rule is very much substantial in this case as well. A long track record of your older credit card aids in you securing a better credit score. It is not advisable to cancel multiple credit cards at once. If the need arises, spacing the closures over a larger span of time would be less hurtful to your credit score.
- It is strongly recommended for you to not over-consolidate balances into one card. An ideal rule of thumb is to keep your credit balances at 30% of the available limits, if possible.
Precautions to Be Taken While closing your HDFC Bank Credit Card
When you're deciding to close your HDFC Credit card, the following points should be kept in mind:
- It is very necessary to obtain an acknowledgement from the bank that your credit card has indeed been closed. Usually, the same is communicated via a letter sent by the bank.
- If you do not properly follow up with the bank, the chances are that the bank may continue levying all sorts of charges on your card, even when you have already cut it into pieces.
- You should always be attentive to your credit report, especially after you have closed the credit card, to ensure that there is no difference in the presentation of the same.