About HDFC Credit Card

Credit Card is an advantage because it is the best replacement to avoid payment by cash for heavy purchases. It provides relief from the burden of carrying heavy cash while you are shopping around. Credit Card is one of the most convenient ways of payments, be it, booking a movie ticket, flight ticket, or purchase of high-end-gadgets.

HDFC Credit Card is very popular since a lot of privileges are extended for using the card. You enjoy rewards on all spends with HDFC Credit Card. These rewards can be redeemed for an array of gifts from the bank's catalogue.

Inspite of all the attractive privileges if you decide for some reason that you do not want to use the card any longer and opt for closure of the Credit Card, here is how you do it.

Closing of HDFC Credit Card is not a complicated process and if you do it the right way it will not damage your credit score.

The Process to Close the HDFC Credit Card

The following are the ways to close an HDFC Credit Card:

By approaching the Customer Care

You can call the HDFC customer care toll free number 1800-425-4332 of HDFC Bank and request for cancellation of the card.

By downloading the Credit Card closure form

If you wish to close your HDFC Bank Credit Card, you need to fill the relevant application form for cancellation of the card and sent it to the Manager, HDFC Bank Credit Cards, PO Box 8654, Thiruvanmiyur Chennai - 600041. The required application form can be downloaded from the official website of HDFC, i.e., www.hdfc.com.

By a letter to the Manager

The HDFC cardholder can send a letter addressed to the Manager of the Corporate Office at HDFC Bank Credit Cards, PO Box No 8654, Thiruvanmiyur, Chennai - 600041. The letter should contain information like the 16 digit Credit Card number along with the name as mentioned on the Credit Card, full address, and contact information. Confidential information like the PIN and CVV number should not be mentioned in the letter.

Things to Ponder before Closing the Card

The following things to be kept in mind before closing the Credit Card:

Status of your card

You can check the status of the card by logging in to your online Credit Card account. If you haven't registered online, you can do it by providing your card number, CVV number and, date of birth.

Banks are not permitted to collect additional charges for inactive cards. They are authorised to close the Credit Cards if they have not been used for a long time. Since there is no revenue generation from inactive cards, banks normally tend to cancel such cards.

If you have not used the card for some time, check the status of your card. If the card is inactive status then follow the next steps before initiating a request for closure.

Outstanding payments on the Credit Card

You can generate the Credit Card statement online with your online Credit Card account. Also, opt for the unbilled transactions which reflect the transactions done till date so that you will not miss out on payment of any dues before initiating the closure request.

  • Any equated monthly instalments (EMIs) on the Credit Card also have to be closed
  • If you have opted for any automatic payments with your card you can contact the beneficiary and close the automatic payment option. Else, you can shift the mode of automatic payment.
  • Clear all outstanding dues as indicated in the statement
  • You should also check the statement carefully for any fraudulent transactions. If you notice any fraudulent transactions in the statement after the closure of the card it might be difficult to get a refund of those transactions.
  • For Credit Cards issued based on Fixed Deposits, the lien on the Fixed Deposit can be removed only after the entire outstanding dues on the card are cleared.
  • In case a loan is active on the Credit Card, the same will be pre-closed which will attract a pre-closure charge at 3% of the outstanding amount. The entire outstanding dues including the pre-closure charges have to be cleared.
  • The Credit Card process will be started by HDFC Bank only after all the dues are cleared
  • It will generally take 7 to 10 working days for the bank to complete the card cancellation process.
  • Once the primary card is cancelled, the add-on card gets cancelled automatically

Reward points

You can refer to MyRewards catalogue to see your redemption eligibility and download the redemption coupon. A processing fee of 99 + taxes is applicable per redemption request. Duly filled redemption coupon will have to be sent to HDFC Bank Cards Division, PO Box No 8654, Thiruvanmiyur, Chennai - 600041.

The reward points should be redeemed within 30 days from the date of closure of the card or else the same will lapse.

Do not use the card further

You should stop using the Credit Card once you have raised a cancellation request. The bank will terminate the cancellation process if it finds a fresh due on the Credit Card.

How Does Closure of HDFC Credit Card Affect Your Credit Score

The closure of the HDFC Credit Card does not impact the credit score if you are holding a single card. In the case of multiple cards holding there will be a negative impact on the cardholder's CIBIL Score. The reason being, the available credit limit will reduce on the closure of the Credit Card and this will increase the credit utilisation ratio.

Unused Credit Cards have a direct impact on the credit utilisation ratio and the length of the credit history. If you have been holding a Credit Card for a long time, say, 2 to 3 years then it will not be wise to cancel the card, but if you have had the card just for a few months then the closure will not have a significant impact on the credit score.

However, since Credit Cards can be used to create a credit history if the cardholder does not intend to avail any other kind of loans, cancellation of the card might not be a good idea.

Responsible Disposal of Closed Credit Card

The cardholder should cut the card diagonally once the Credit Card cancellation is initiated. Some banks require customers to return the destroyed card to the bank. Check with your bank before disposing off the destroyed/closed card about the exact procedure they follow.

Frequently Asked Questions

How can I close my HDFC credit card online & offline?

You can close an HDFC Credit Card through the following ways:

  • Call the customer care of HDFC at their toll-free number 1800-425-4332 and request for cancellation of the card.
  • Download the Credit Card closure form from the official website of HDFC, i.e., www.hdfc.com, fill it and send it to the Manager, HDFC Bank Credit Cards, PO Box 8654, Thiruvanmiyur Chennai - 600041.
  • Send a letter to the Manager of the Corporate Office at HDFC Bank Credit Cards, PO Box No 8654, Thiruvanmiyur, Chennai - 600041. The letter should contain information like the 16 digit Credit Card number, cardholder?s name as mentioned on the Credit Card, full address, and contact information.

What happens if I block my HDFC credit card?

If you block your HDFC credit card, your card will be declined for additional purchases. You can block your card anytime for any reason provided the dues are paid in full.

Is it bad to close an HDFC credit card?

Closing an HDFC credit card is easy, and if you do it in the right way, it will not damage your credit score. However, it is best to keep your credit cards open so that you can benefit from a longer average credit history and can have access to a larger amount of credit when needed. Credit scoring models reward card users for maintaining long-standing credit accounts, and for using your credit limit judiciously.

Is it better to close a credit card permanently or leave it unused?

Closing your oldest credit card can shorten your credit history's length, which accounts for 15% of your credit score. However, the closed credit card account will stay on your credit report only for up to 10 years from the date of the last activity.

Also, depending on the total credit limit available to you, closing a credit card with a high credit limit can impact your credit score negatively, particularly if you have high credit cards or loans balances. If you have zero balance, your credit utilization rate will be zero, and will not be impacted by the loss of a balance.

Can I cancel my HDFC credit card online?

You can download the HDFC credit card closure form from the official website of the bank, i.e., http://www.hdfcbank.com, fill it up and send it to the Manager, HDFC Bank Credit Cards, PO Box 8654, Thiruvanmiyur, Chennai - 600041

How can I close my HDFC credit card by customer care?

You can call the HDFC customer care toll-free at 1800-425-4332 and ask their executive to initiate a process to deactivate your card.

What happens if I deregister my HDFC credit card?

Once you have deregistered your HDFC credit card, cut the credit card diagonally. If, in case, you use the card after deregistration, the bank will generate fresh dues, which will lead to the termination of the closure process. After cancellation of the primary card, all add-on credit cards will also be deactivated automatically.

How to close HDFC Credit Card?

You can close the HDFC Credit Card in three ways:

  • By calling the HDFC Bank Customer Care toll-free number 1800-424-4332
  • Download the HDFC Credit Card Closure form from the official website of HDFC-www.hdfc.com. Fill the form and send it to HDFC Bank Cards Division, PO Box No 8654, Thiruvanmiyur, Chennai - 600041.
  • Address a letter to the Manager of the Corporate Office at HDFC Bank Credit Cards, PO Box No 8654, Thiruvanmiyur, Chennai - 600041. The letter should contain information like card number, Name (as on the Credit Card) and full address, contact information. Confidential information like the PIN and CVV number should not be mentioned in the letter.

What are the things to be done before opting for the closure of the Credit Card?

Before opting for the closure of the Credit Card you have to do the following things:

  • Check the status of your card
  • Clear all the outstanding dues on the Credit Card
  • Check for any fraudulent transactions in the Credit Card statement
  • Redeem reward points
  • Check your credit report

How long will it take to complete the card closure process?

It will take 7 to 10 working days to complete the card closure process.

How does the card closure impact your credit score?

The closure of the HDFC Credit Card does not impact the credit score if you are holding a single card. In the case of multiple cards holding there will be a negative impact on the cardholder's CIBIL Score. The reason being, the available credit limit will reduce on the closure of the Credit Card and this will increase the credit utilisation ratio.

How should the card be disposed of after the closure?

After the closure the Credit Card should be cut diagonally.

What happens to the add-on card when the primary card is closed?

The add-on card gets closed automatically when the primary card is closed.

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