SBI Card provides credit cards offering great deals and exclusive offers for you to save on your daily expenses. Credit cards can be a great addition to your lifestyle considering if you use it wisely. In case you are looking for closing your SBI credit card, here is how you can do it smoothly in simple steps:
PO Box 28, GPO, New Delhi – 110001, SBI Card
Note: Refrain from sending any sensitive information such as CVV or card PIN.
Outstanding dues:Before you plan on closing the credit card, make sure there are no pending payments. If your dues are not paid, they can result in penalties and adversely affect your credit score.
Unused reward points: You can redeem the reward points accumulated on your card as reward points expire when the card is closed.
Impact on credit score: Closing a credit card can impact your credit utilisation ratio along with your credit history temporarily. As a result, this will dip your credit score. However, you can increase your credit score gradually by making timely repayments of your outstanding debts.
In conclusion, closing your credit card can be a wise decision if you are already dealing with multiple credit cards and want to consolidate your debt. This way you can avoid any future financial burden and enjoy the benefits of credit cards without any hassle.
However, you must ensure that you avoid frequent applications for credit cards as this may adversely affect your creditworthiness. Hence, make wise decisions and use credit cards wisely.
(Note: Using a credit card carries its own set of risks)
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