Top News

Credit Card Close: In today’s time, credit card has become an easy way to meet our daily needs. Credit cards are very useful for everything from online shopping to paying bills. But, sometimes it happens that the card is used very less and yet annual fees, maintenance charges or other charges are imposed. In such a situation, the customer finds closing the card a better option.

Many cardholders are not aware that simply blocking the credit card and completely closing the card account are two different things. If you do not want to use your card, then you can close it even sitting at home. Let us know.

Before closing the credit card, you should repay the entire debt or dues of your card, only after which the process of closing the card should proceed. Under RBI rules, you can close your credit card even sitting at home without going to the bank. For this, you should call the customer care of the bank and ask them to close the card. Apart from this, you can also close the card through the bank’s app or net banking. Before this you should request for Card Closure Rules.

According to the current rules of RBI, after the request for closure of credit card is given by the customer, the card is scrutinized, after which the customer’s card is closed within 7 working days. After closure of the card, the customer is informed about the same through email, SMS or any other means. That is, if you have paid all the outstanding bills and filed the closure request correctly, the bank or card issuer tries to complete the process quickly.