How to Close HDFC Bank Credit Card

You may want to close your HDFC Credit Card if you are switching to a better card or are unable to make the most out of it. Whatever the reason may be, HDFC Bank provides several channels for its customers to get their credit cards closed/cancelled. HDFC credit card holders can follow the below-mentioned ways to close/cancel their cards.

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Click here to know the new rules regarding credit card closure which will be effective from 1^st July 2022.

Ways to Close HDFC Bank Credit Card

The various ways to close HDFC Bank credit card are:

Customer Care

HDFC Bank’s round-the-clock helpline services help in closing customers’ credit card accounts whenever they want. Simply call on the customer care number listed here and request to cancel the credit card account at any given time.

Sending Application Via Post

Follow the simple steps to close your HDFC credit card through an application form.

Download the HDFC credit card closure form by clicking here
Fill out the form and send it to the below-given address

HDFC Bank Cards Division,
P.O.Box No.8654, Thiruvanmiyur P.O.
Chennai – 600 041

Virtual Assistant EVA

You can also raise your credit card closure request using HDFC Bank’s virtual assistant EVA using the below-mentioned steps:

Click on EVA and type “credit card closure”
Enter your registered mobile number
Enter the OTP received on your registered mobile number
Enter the last 4 digits of your credit card number
Select the reason for closing your card
Your credit card closure request is accepted

Things to Keep in Mind when closing HDFC Bank Credit Card

Remember the following pointers:

Due Payments

Payments that are due on the credit card have to be cleared off, i.e. the outstanding balance and the EMIs on the card should be cleared. If the dues aren’t cleared then the card cancellation will be declined.

Reward Points/Air Miles

Customers must use all the reward points within 30 days from the card closure date. Otherwise, the reward points will lapse.

RBI’s New Rules on Credit Card Closure
Credit cards should be closed within seven working days of the request being raised, provided all outstanding balances are paid in full by the cardholder. Failure to do so will result in a penalty of Rs. 500 per day of delay until the card account is closed. Card issuers must provide multiple channels to send a closure request including mobile banking, internet banking, helpline, IVR, dedicated e-mail address and mobile app. If a card has not been used for more than a year, the card issuer will deactivate it and notify the user. The card account will be closed if the cardholder does not respond within 30 days. If there is any credit amount remaining in the cardholder’s account, it should be transferred to his/her bank account. Intimation about card closure must be shared by the issuers to the credit bureaus within 30 days of such closure.

RBI’s New Rules on Credit Card Closure

Credit cards should be closed within seven working days of the request being raised, provided all outstanding balances are paid in full by the cardholder.
Failure to do so will result in a penalty of Rs. 500 per day of delay until the card account is closed.
Card issuers must provide multiple channels to send a closure request including mobile banking, internet banking, helpline, IVR, dedicated e-mail address and mobile app.
If a card has not been used for more than a year, the card issuer will deactivate it and notify the user. The card account will be closed if the cardholder does not respond within 30 days.
If there is any credit amount remaining in the cardholder’s account, it should be transferred to his/her bank account.
Intimation about card closure must be shared by the issuers to the credit bureaus within 30 days of such closure.

Consequences of Closing your Credit Card

Closing a credit card is a personal choice, but doing so may have slight impact on your credit worthiness. When you close your credit card, your credit card utilization ratio will increase which may temporarily affect your credit score. Also, if you decide to close a credit card with the longest credit history, your payment history may be impacted a little. So, when you decide to close a credit card, make sure that doing so will not have any major impact on your payment history.

How to Apply for a Credit Card Online?

Step 1: Enter your mobile number

Step 2: Enter OTP to verify your mobile number

Step 3: Explore pre-qualified credit card offers from top issuers

Step 4: Select your preferred card and complete the digital application

How to Apply for a Credit Card Online?

Step 1: Enter your mobile number

Step 2: Enter OTP to verify your mobile number

Step 3: Explore pre-qualified credit card offers from top issuers

Step 4: Select your preferred card and complete the digital application

FAQs

What should be done with the credit card once it has been cancelled?

It is advisable to cut the appropriate credit card diagonally into two halves before disposing of it.

What happens to the add-on cards if the primary card has been closed?

It is to be noted that when the primary card is closed or cancelled then the add-on credit cards are also terminated.

Will I be asked to enter my CVV or my PIN in the form to close the credit card?

No, you will not be asked to disclose such information by the bank. You should NOT divulge such confidential information to anybody.

What happens to the credit card utilization rate when the card is closed?

Having a low utilization ratio helps because it improves the credit score. But when the card is closed it lowers the available credit limit and that increases the utilization rate if the expenses remain unchanged.