How to Close a Credit Card in India

Credit Card Settlement

Closing Your Credit Card in India: A Simple Guide

Whether you’re looking to simplify your finances, avoid temptation, or manage debt, closing a credit card can be a wise decision. However, it’s essential to take the right steps to protect your credit score and financial well-being. Here’s how to close a credit card in India:

  1. Evaluate Your Reasons

Before closing, consider why you want to get rid of the card. Is it due to high fees, unused benefits, or to avoid overspending? If it’s the latter, explore alternative options like cutting up the card or setting spending limits before making a final decision.

  1. Clear Outstanding Dues

Make sure you’ve paid off all outstanding balances on the card, including any pending charges or fees. It’s crucial to start with a zero balance.

  1. Redeem Rewards (if applicable)

If your card has reward points or cashback, redeem them before initiating closure. These rewards could be lost if you close the account without using them.

  1. Contact Your Card Issuer

Call the customer service number on the back of your card and inform them of your decision to close the account. They may offer retention bonuses or try to persuade you to keep the card, but remain firm in your decision.

  1. Confirm Cancellation in Writing

Follow up with a written request to the card issuer confirming your cancellation. This can be done through email or a physical letter. Keep a copy of this correspondence for your records.

  1. Destroy the Card

Cut up the physical card to ensure it cannot be used.

Impact on Credit Score

Closing a credit card can impact your credit score, especially if it’s your oldest card or if it reduces your overall available credit significantly. If you’re concerned about your credit score, consult with a loan settlement consultant or a financial advisor.

Alternatives to Credit Card Closure

If you’re closing the card due to unmanageable debt, explore these options:

  • Loan Settlement: Negotiate with your lender to pay a reduced amount to settle the debt entirely.
  • Balance Transfer: Transfer your balance to a card with a lower interest rate.
  • Debt Consolidation: Consolidate multiple debts into a single loan with a lower interest rate.

How Settlement on Loan Can Help

We specialize in debt settlement services, including credit card settlement. Our team of expert negotiators can help you:

  • Negotiate with creditors to reduce your debt amount
  • Create a personalized debt management plan
  • Avoid bankruptcy and protect your assets
  • Achieve financial freedom

Loan Settlement Kaise Kare (How to Get Loan Settlement)

If you’re struggling with credit card debt, don’t hesitate to contact us. We’ll guide you through the loan settlement process (loan settlement kaise kare) and help you find a solution that works for you.


Closing a credit card should be a well-thought-out decision. Consider your reasons, follow the proper procedure, and seek professional advice if needed. With the right strategy, you can take control of your finances and achieve your financial goals

The process is simple with Settlement on Loan:

  1. Contact Us: Reach out to us for a free consultation.
  2. Assessment: We’ll analyze your loan details and financial situation.
  3. Negotiation: We’ll negotiate with your lender to reach a mutually agreeable settlement amount.
  4. Settlement: Once approved, you’ll make a one-time lump-sum payment to close your loan account.

Don’t Let Debt Hold Your Business Back

If your Mudra loan has become a burden, don’t despair. Explore loan settlement with us  and give your business a fresh start. 

Overwhelmed by debt? Breathe easier with loan settlement solutions. We’ll fight for you! Get the help you deserve.

Call : +91 9996989141

WhatsApp : wa.me/+917497855102

Website : www.settlementonloan.com


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