Credit Card closure full guide: Getting a credit card has become easier nowadays. Using a credit card may be overwhelming considering different discounts and schemes, however, it may sometimes lead to debt trap. Moreover, closing a credit card could be a troublesome experience too. Here is how one may apply to cancel a credit card.

How to close or cancel a credit card?

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-To cancel a credit card, users may call the customer service of the concerned bank. Once the credit card cancellation request is raised, the concerned bank will get back to you to discuss the reason for closure of the credit card.

- Users may also get their credit card closed by sending an e-mail to cancel the credit card or submit an online request for the same.

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What does the RBI rule say?

"Subsequent to the closure of the credit card, the cardholder shall be immediately notified about the closure through email, SMS, etc. Cardholders shall be provided an option to submit request for closure of credit card account through multiple channels such as helpline, dedicated e-mail-id, Interactive Voice Response (IVR), prominently visible link on the website, internet banking, mobile-app or any other mode,” the RBI directions reads.

Few points to keep these things in mind before closing or canceling the card

- Check the balance amount as well as pay off any remaining balance

- Redeem reward points before closing, if any

- Turn off auto payments and transfers

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