Closing a credit card is a decision that requires careful consideration. DBS Bank is one of the leading banks in India that offers a wide range of credit cards with attractive features and benefits. However, there may be instances where you may want to cancel your DBS credit card due to various reasons. Whether you are looking to streamline your finances, or you have found a better-suited card for your needs, cancelling a DBS Bank credit card in India can be a straightforward process if you follow the right steps. This article guides you through the process of closing a DBS credit card, both online and offline, and provides essential insights to help you make an informed decision.
How can I close/cancel my DBS credit card online?
Follow the below process to cancel your credit card online:
- Log in to your DBS Bank account: Access your account through the official DBS Bank website using your credentials.
- Go to the credit card section: Once logged in, locate the credit card section in your account dashboard.
- Select the cancellation option: Look for the option to cancel or close your credit card. This is usually found in the settings or services section.
- Follow the on-screen instructions: DBS Bank's online platform typically provides a step-by-step process for card cancellation. Follow the instructions carefully and provide any required information.
- Verify your identity: As a security measure, you may need to verify your identity through OTP or other authentication methods.
How can I close/cancel my DBS credit card offline?
Follow the below process to cancel your credit card online:
- Contact customer service: Reach out to the DBS Bank customer service helpline through the provided contact number.
- Visit a DBS Bank branch: Alternatively, you can visit a nearby DBS Bank branch in person to request a credit card cancellation.
- Provide the necessary documents: Be prepared to provide identification documents and any other paperwork requested by the bank.
- Speak to a customer service representative: If visiting a branch, approach a customer service representative who will guide you through the cancellation process.
Customer support details to cancel a credit card
If you are facing any issues with credit card cancellation, you can reach out to DBS Bank customer care with the following details:
- Customer care number: 1800-209-4555 (toll-free) or +91-44-66854555 (overseas)
- Customer care email ID: customercareindia@dbs.com
Know when you must opt for credit card cancellation
Here are reasons why and when you must consider cancelling your credit card.
- Underutilised cards: If you find yourself not using your DBS credit card frequently, it might be a good time to consider cancellation.
- High annual fees: Evaluate whether the annual fees on your credit card outweigh the benefits you receive. If not, it might be prudent to cancel.
- Better card offers: If you come across a credit card with more attractive features or rewards, it might be a suitable time to cancel your existing DBS credit card.
Things to consider while cancelling your credit card
Here are some of the factors you must know when cancelling your credit card.
- Outstanding balance: Ensure that you clear any outstanding balance on your DBS credit card before initiating the cancellation.
- Auto-payments: If you have set up any auto-payments linked to your card, make sure to update the payment details to avoid disruptions.
- Impact on credit score: Understand that closing a credit card may impact your credit score, especially if it is a card with a long credit history. Consider these factors before deciding.
What are the consequences of cancelling credit cards?
Here are some of the consequences of cancelling your credit card:
- Impact on credit score: Closing a credit card can affect your credit score, particularly if it is one of your oldest cards. Consider this before deciding to cancel.
- Loss of credit history: Closing a credit card may shorten your credit history, potentially impacting your creditworthiness.
- Unused credit limit: Cancelling a credit card reduces your available credit limit, which could affect your credit utilisation ratio.
In conclusion, cancelling a DBS Bank credit card in India requires careful consideration of your financial situation and credit needs. Whether opting for online or offline methods, it is crucial to follow the proper procedures, settle outstanding balances, and update any linked auto payments. Be aware of the potential consequences on your credit score and consider alternatives before finalising your decision. For personalised guidance, reach out to DBS Bank's customer support, and they will assist you through the process.
