Cancel Your Credit Card | Credit Card Cancellation in Singapore
Credit Cardsby Priyadarshini 18 November 2021
The world of credit card benefits is a volatile place. What was once your favourite go-to card for any form of spending might quickly devolve into a meaningless piece of plastic. All it takes is a change in the terms and conditions, and your partnership is over. In this blog, we tell you how to cancel your credit card in Singapore. If you have a credit card that has fallen out of favour, it is preferable to cancel it than to let it collect dust.
Why should you get rid of your credit card?
Just when you thought you’d found The One, the ideal cashback or rewards credit card for your lifestyle, the bank decided to change its terms and conditions! With a greater minimum spending amount and a new cashback cap, your card is abruptly relegated to a “rarely used” status. It is far better to cancel your credit card in case the bank realizes it has made a serious error and alters the terms and conditions again. By cancelling the card, you not only receive one less vexing credit card statement per month, but you also eliminate the possibility of being charged annual fees inadvertently.
Furthermore, if you no longer have any cards from a specific bank, you become eligible for sign-up specials and welcome bonuses aimed at “new customers.” Most banks would consider you a “new customer” if it has been at least 12 months since you terminated your previous credit card with them. As a result, the sooner you cancel the card, the sooner you can qualify for
Know this Prior to cancelling your credit card…
Make a selection on which credit card(s) to cancel first. If you’re cancelling in order to become a new customer in a year, make sure you don’t have any other cards with the same bank. Check that you’ve cleared your account balance, including any money outstanding through installment programs, before cancelling. If you still owe the bank money, the bank may refuse to revoke your card. You should also use up all of your existing rewards points, air miles, or (if applicable) money before cancelling, or you will lose them.
DBS Credit Card
Don’t want to go through hours of automated audio messages? DBS credit cards can be cancelled online. Select the “Cancel Now” option. To assist with the cancellation, a chat box will appear on the bottom right-hand side of the screen. You can also cancel your card through iBanking. Log in to online banking on your desktop computer and go to Messages > Compose > Credit Cards > Cancel Card.
Alternately, you can cancel your card the traditional manner by contacting a customer service representative using their 24-hour hotline at 1800 111 1111 or, if calling from outside of Singapore, +65 6327 2265.
OCBC Credit Card
If you have OCBC credit card, call their 24-hour hotline at 1800 363 3333. Or, if calling from abroad, +65 363 3333. Select the option to speak with a customer care representative. You can also cancel your credit card by mailing or visiting the bank with this credit card maintenance form.
UOB Credit Card
For the UOB credit card, call their 24-hour hotline at 1800 222 2121 or +65 6222 2121 if you are in another country and ask to speak with a customer care officer.
Citibank Credit Card
You can dail 6225 5225, which is available 24 hours a day, seven days a week. Press 3 to log in with your NRIC or FIN and then follow the on-screen instructions. After you’ve verified your identity using an SMS OTP, press 0 to speak with a customer support representative.
Credit Card from Standard Chartered
You can deactivate your Standard Chartered credit card by using the online banking system or the app. After checking in, go to Help & Services > Card Management > Credit Card Cancellation > Cancel Credit Card > Cancel Credit Card > Cancel Credit Card > Cancel Credit Card > Cancel Credit Card > Cancel Credit Choose an explanation for cancelling the card. Those who have never used internet banking can contact their 24-hour customer care hotline at 6747 7000.