Close Your SBI Credit Card Online and Offline : Step-by-Step Process

Closing a credit card might seem simple, but doing it wrong can lead to unexpected problems. It's an easy process, but it needs to be followed in order, we'll walk you through the easy steps to close your SBI credit card without hassle. From understanding the process to protecting yourself from fraud, we'll provide all the information you need.

But before you do that, make sure:

• You've settled your entire credit card bill balance.
• If you have accumulated reward points, redeem them.
• If you want to close your current card for a better one, try asking the bank if they will offer you an exchange.

This could be due to various reasons, such as high fees, a change in financial circumstances, or simply not needing the card anymore. This response will guide you through the steps to close or cancel an SBI credit card.

Close Your SBI Credit Card: Online Process

There isn’t a direct way to close your SBI credit card entirely online, but you can initiate the closure process by sending an email through your SBI net banking account.

• Access your SBI net banking account.
• Look for the Email address & compose a new email to the bank.
• Clearly state the subject as “Credit Card Closure Request”.
• In the email body, politely request the closure of your SBI credit card account. Mention your full name, card number and contact details. If you want to, briefly state the reason for the closure.
• You’ll likely receive a confirmation email or a reference number for your closure request.
• SBI might contact you to confirm your request and discuss any outstanding dues or charges. They might also try to persuade you to retain the card by offering deals.

Close Your SBI Credit Card: Offline Process

There are two main ways to close your SBI Credit Card offline:

Dial the customer care number on the SBI Credit Card.

• You can call any of the following toll-free numbers:
  • 1860-180-1290
  • 1860-500-1290
  • 1800 180 1290
  • (STD Code) 39-020202 (Prefix the local STD code for this number)
  • Once connected to a customer service representative, inform them that you want to close your SBI credit card account.
• The representative will ask for your personal details and credit card information to verify your identity. They might also inquire about the reason for closure (optional).
• The customer service representative will guide you through the closure process, which might involve settling any outstanding dues and following further instructions.

Visiting Your Nearest SBI Branch:

• Take your SBI credit card and a valid photo ID proof (e.g., PAN card, Aadhaar card) along with you.
• Meet a bank representative and express your desire to close your SBI credit card account.
• The bank representative might provide you with a credit card closure form. Fill out the form accurately, providing all the necessary details.
• Submit the completed closure form and your credit card to the bank representative.

Additional Tips:

• While initiating closure through a phone call is a quicker option, visiting the branch allows you to get a receipt for submitting the closure request.
• SBI might take some time to process your closure request. Follow up with them if you don’t receive confirmation within a reasonable timeframe.

How To Close Your SBI credit card by SMS?

Closing your SBI credit card directly through SMS isn’t possible. However, you can initiate closure by emailing the SBI service provider, using net banking, or calling customer care. Visiting your branch with a written request is another option.

Factors To Consider Before Closing Your SBI Credit Card

Before you decide to close your SBI credit card, it’s essential to consider the following factors:

1. Outstanding balance: Ensure you have cleared all outstanding dues before closing your credit card. Failure to do so can lead to additional fees and impact your credit score.
2. Credit score: Your credit score is impacted by your credit utilisation ratio, which is the amount of credit you use compared to your credit limit. Closing a credit card reduces your available credit limit, which can increase your credit utilisation ratio and negatively impact your credit score.
3. Rewards and benefits: If your credit card comes with rewards and benefits like cashback, discounts, or reward points, make sure you have redeemed all of them before closing the card.
4. Credit history: The length of your credit history is a significant factor in your credit score. If you have had your SBI credit card for a long time, closing it can affect your credit history negatively.
5. Annual fees: Some credit cards come with annual fees. If you’re closing your credit card to avoid paying these fees, consider whether the card’s benefits outweigh the fees.

Consequences of Closing Your SBI Credit Card?

Closing your SBI credit card can have several consequences, including:

• Impact on credit score: As mentioned earlier, closing a credit card can affect your credit utilisation ratio and credit history, negatively impacting your credit score.
• Loss of rewards and benefits: If you close your SBI credit card, you will lose any accumulated rewards, cashback, or other benefits associated with the card.
• Impact on credit history: Your credit history is essential in determining your credit score. Closing a credit card can impact the length of your credit history and your credit score.
• Impact on future credit applications: Closing your SBI credit card can impact your future credit applications. Lenders may view you as less creditworthy if you have a history of closing credit accounts.
• Potential impact on credit utilisation: If you have a significant outstanding balance on your SBI credit card, closing it could impact your credit utilisation ratio. This, in turn, can negatively impact your credit score.
• Fees and charges: Some credit cards come with annual or other charges. If you’re closing your SBI credit card to avoid these fees, be aware that you may still be liable for any outstanding balances or fees.

Does a Cancelled or Closed Credit Card Affect Your CIBIL Score?

Yes, a closed SBI credit card can affect your CIBIL score. The impact on your score will depend on several factors, including the reason for cancelling or closing the credit card, your credit utilisation ratio, and the length of your credit history.

Suppose you close an SBI credit card with a high credit limit. In that case, it can impact your credit utilisation ratio, the amount of credit you use compared to your total available credit. A higher credit utilisation ratio can negatively impact your CIBIL score. Additionally, if you have a long credit history with a closed SBI credit card, it can also affect your CIBIL score.

However, if you cancel or close a credit card with a low credit limit, it may not significantly impact your CIBIL score. Additionally, closing the credit card because of fraudulent activity or errors on your credit report may not affect your score.

Steps to Reactivate a Closed Credit Card

If you have closed your SBI credit card but want to reactivate it later, you can do so by emailing sbicorporate.services[at]sbicard[dot]com or calling the bank’s customer care team at 1860 1801 290 or (local STD code) 390 202 02. 

You may need to submit some documents to complete the reactivation process. Once your request is processed successfully, your credit card will be reactivated.

Tips To Protect Yourself From Fraudulent Transactions

Safeguarding your financial information is a must in today’s digital age. Here are some essential tips:

• Check your bank and card bills often for any strange spending.
• Make hard-to-guess passwords for your online accounts. Don’t use the same password for everything.
• Don’t give out your personal info to strangers on the phone, email, or the internet. Real banks and companies won’t ask for this.
• Don’t use public Wi-Fi for banking or shopping.
• Get cards with extra safety and check your card bills for mistakes.
• If you see something wrong, tell your bank or card company immediately.
• Don’t share personal info online, and be careful what you post on social media.
• Destroy old bills and papers with your personal info on them.
• Turn on two-step verification when you can.

Customer Care Number for SBI Credit Card

Here are the toll-free numbers you can use to contact SBI Credit Card customer care:

• 1800 180 1290
• 1860 180 1290
• 1860 500 1290
• If you prefer to use a local number, you can dial (Your STD Code) 39 02 02 02