An HDFC credit card offers a lot of benefits for every cardholder. However, sometimes you may want to close the credit card due to various reasons. Let us look at the ways through which you can close an HDFC credit card.

Ways to Cancel HDFC Credit Card

  1. Cancel your HDFC Credit Card Through the HDFC website

    1. Go to HDFC bank’s official website
    2. Go to Personal, click Resources (at the bottom of the page) -> Forms Centre ->  Personal -> Credit Cards -> Credit Card Closure Request.
    3. Click on the link mentioned.
    4. A new page will open. Enter your registered 10-digit mobile number.
    5. This will send an OTP to your mobile. In the next step, enter the OTP.
    6. Now, you will need to select the credit card which you want to close.
      1. In case you haven’t registered for MyCards, enter the last 4 digits of the credit card.
      2. In case you hold multiple credit cards, select the card you want to close from the list or add the card if it wasn’t registered before.
      3. In case you have a single credit card, proceed to the next steps.
    7. Provide the reason for the closure of the credit card.
    8. For authentication, provide the OTP.
      1. Your request for credit card closure will be submitted. 

  2. Cancel your HDFC Credit Card by Calling the HDFC Helpline

    1. You can call HDFC toll-free number 61606161/6160616 to cancel your HDFC credit card. Don’t forget to add your area code to connect to your city’s HDFC customer care.
    2. You can place a request for cancellation of the credit card over the call.
    3. You will be asked for details for confirmation. Make sure you answer them correctly.

  3. Cancel your HDFC Credit Card by Mailing the Credit Card Closure Form

    1. Owners of cards can fill out and download the Credit Card Closure Form from www.hdfcbank.com. 
    2. Mail it to - The Manager, HDFC Bank Credit Cards, PO Box 8654, Thiruvanmiyur, Chennai-600041 can receive it after it has been filled out. 
    3. In addition, you can write to the corporate office manager at the same address. 
    4. Important information including the cardholder's name, address, and phone number must be mentioned. 
    5. You should not, however, reveal private information like the PIN and CVV of the card.

Reasons for Closing a Credit Card

  1. High Annual Fees - Some credit cards come with annual fees, and if you find that the benefits or rewards you receive from the card no longer justify the cost, you may choose to close it to avoid paying the fee
  2. Poor Card Benefits - If the credit card no longer offers the benefits, rewards, or features that align with your needs or spending habits, closing the card can make sense. You may want to explore other credit cards with better terms or benefits that suit your requirements
  3. Too Many Credit Cards - Having multiple credit cards can sometimes become overwhelming to manage. If you find it difficult to keep track of payments, due dates, and spending across multiple cards, closing one or more cards can simplify your financial management.
  4. Credit Score and Financial Goals - Closing a credit card can impact your credit score. However, if you have multiple credit cards and closing one won't significantly impact your credit utilization or credit history, it may be a viable option. Additionally, if you are working towards specific financial goals, such as reducing debt or minimizing credit exposure, closing a credit card can be part of your strategy.
  5. Change in Relationship with the Card Issuer - In some cases, individuals may choose to close a credit card due to a negative experience or dissatisfaction with the card issuer's services or practices. This could include poor customer service, frequent billing errors, or unethical practices.

Things to Consider Before Closing an HDFC Credit Card

  1. Impact on Credit Score - Closing a credit card can affect your credit score, as it can impact your credit utilization ratio and average account age. Closing a card reduces your total available credit, which can increase your credit utilization if you have balances on other cards. Additionally, closing an older credit card can decrease the average age of your accounts, which may also impact your score. Consider whether the potential impact on your credit score is acceptable to you.
  2. Outstanding Balances - Ensure that you have paid off all outstanding balances on the credit card before closing it. Closing the card does not absolve you of any existing debts, and you are still responsible for paying off any remaining balances. Closing the card with unpaid balances can negatively impact your credit score and may result in additional fees or interest charges.
  3. Rewards and Benefits - If the credit card has accumulated reward points, cashback, or other benefits, consider redeeming them before closing the card. Review the terms and conditions to understand if there are any limitations or expiration dates on redeeming rewards. Once the card is closed, you may lose access to those benefits.
  4. Length of Credit History - Closing an older credit card can shorten the average age of your credit history, which can impact your credit score. If the card you are considering closing is one of your oldest credit accounts, it may be more beneficial to keep it open, especially if you have a positive payment history associated with it.
  5. Alternative Credit Options - Evaluate whether you have other credit cards or credit accounts that can adequately meet your financial needs. If you have alternative credit options with better terms, rewards, or benefits, closing the card may not significantly impact your overall credit utilization or financial management.
  6. Fees and Annual Costs - Consider any annual fees or maintenance charges associated with the credit card. If the fees outweigh the benefits you receive from the card, it may be worth closing it to avoid those costs.
  7. Future Credit Needs - Assess your future credit needs and financial goals. Closing a credit card reduces your available credit, which can impact your ability to obtain new credit in the short term. If you anticipate needing credit shortly, such as for a loan or mortgage, closing the card may not be advisable.

How Can I Reactivate a Close HDFC Credit Card?

On the HDFC official website, applicants can download the application form for reactivating a closed credit card account. Once it has been completed, the form can be sent to HDFC Bank Cards Division, PO Box 8654, Thiruvanmiyur, Chennai 600041. The bank will revive the canceled card once all the required paperwork and verification are completed.

Conclusion

Closing the HDFC credit card can be done via HDFC bank’s original website or by calling the customer care number. It can also be done by filling up a form and mailing it to the Chennai HDFC office. The process is simple and straightforward with details to be provided. Before closing an HDFC credit card, check if there are no payments due or no rewards are due to be redeemed. 

Frequently Asked Questions

How can I close my HDFC credit card?

To close your HDFC credit card, you can contact HDFC Bank's customer service through their helpline number or visit a branch in person. Provide them with the necessary information and follow their instructions to initiate the closure process.

Is there a specific form or request letter to close the credit card?

HDFC Bank has a specific closure form or request letter that you need to fill out or submit. It's advisable to contact HDFC Bank's customer service or visit their website to obtain the accurate information and necessary documentation required for closing your credit card.

Can I close my HDFC credit card online?

HDFC Bank provides an option to initiate the closure process online through its Internet banking portal. However, it's recommended to check with HDFC Bank's customer service or refer to their website for specific instructions on closing your credit card online.

What happens to the reward points accumulated on my HDFC credit card?

Before closing your HDFC credit card, it's advisable to redeem any accumulated reward points. Contact HDFC Bank's customer service or visit their website to explore your options for redeeming the reward points before closing the card. Once the card is closed, you will no longer have access to those reward points.

Will closing an HDFC credit card impact my credit score?

Closing an HDFC credit card can impact your credit score. It may reduce your total available credit, potentially increase your credit utilization ratio, and shorten the average age of your credit accounts. The specific impact will depend on your overall credit history and utilization. It's important to evaluate the potential impact on your credit score before closing a credit card.