CIMB credit cards are issued by CIMB Bank Berhad or CIMB Islamic Bank Berhad in Malaysia. If you are unsure about the impact on your credit or alternatives, speak to a CIMB officer or a financial advisor first. You can even consider cancelling your credit card. The question remains: How to cancel CIMB credit card? In this article, I will provide you with a step-by-step guide for the same. Stay tuned.
Cancelling your CIMB credit card responsibly helps maintain good financial standing. Canceling a CIMB credit card is generally straightforward but requires preparation to avoid issues like lingering balances, lost rewards, or service disruptions. CIMB allows cardholders to request cancellation, while the bank can also initiate it for inactivity to avoid annual fees and SST.
Things to Know Before Cancellation
Here are the important things you must know before cancelling your CIMB credit card:
1. Pay off the Full Outstanding Balance: Pay off outstanding dues including pending transactions, instalments, finance charges, and fees. Banks usually won’t process cancellation with a debit balance. Check your latest statement via the CIMB OCTO app, CIMB Clicks, or e-statement.
2. Redeem Rewards: Redeem your rewards and points for further use. You can use or convert points or miles promptly.
3. Update or Cancel Recurring Payments: Switch subscriptions, insurance, or bills to another card to avoid disruptions. Contact merchants directly.
4. Note Any Credit Balance: Any positive balance will be refunded to a CIMB account within 90 days, or arranged otherwise.
5. Gather Documents: Make sure you gather documents such as NRIC, MyKad, the physical card for cutting or destruction, and proof of identity.
How To Cancel CIMB Credit Card?
CIMB supports different methods of canceling your credit card. You can opt for the method easy to you. Here are the ways and methods you can try:
How to Cancel CIMB Credit Card by Calling?
This is the direct and simple method. You just need to call the customer care team on their official number at +603 6204 7788. Consumers in Singapore can contact them at +65 6333 6666.
Call and verify identity (NRIC, card details, security questions).
Request cancellation and provide a reason.
Get a reference number for your records.
Follow up if needed. They may send confirmation via SMS or email.
How to Cancel CIMB Credit Card by Email?
This method is a bit lengthy and time-consuming. However, the entire process is simple. You simply need to draft a detailed email and send it to sg.cardcenter@cimb.com.
Make sure you provide all the necessary information to help the customer support team find your subscription. The important details include the credit card number and the expiry date or billing cycle linked to your account.
Your cancellation request will be reviewed by the customer service team, and your request will be processed within the specified time.
How to Cancel CIMB Credit Card Via Submitting Maintenance Form?
This is yet another method you can choose to cancel your CIMB Credit Card. You can download and print out the form from their official website, or you can get it directly from the branch. Fill out the form with all the required details, such as the credit card information, contact details, the expiry date of the card, or the billing cycle.
Visit any CIMB or CIMB Islamic Bank branch and hand over your maintenance form. Bring your NRIC and card to the branch you are visiting.
Why Cancel a CIMB Credit Card?
Common reasons include:
- Avoiding annual fees, especially if not waived.
- Reducing the number of cards to manage.
- Switching to a better card with superior rewards or lower rates.
- Low usage. CIMB may proactively cancel inactive cards.
Alternative Option
Here are alternative options you can try:
Switch to Another Credit Card: You can replace a canceled card with one better suited to your lifestyle. There are several cards that are available at no annual fee or with easily waivable options.
Travel & Miles Options: You can opt for CIMB Travel Platinum or higher-tier Travel World cards (if you qualify) for miles, lounge access, and travel perks.
Maybank 2 Platinum, UOB PRVI Miles, or RHB Premier Visa are viable alternative options and infinite for overseas spending and miles conversion.
Wise Card: This is excellent for overseas or multi-currency spending at mid-market exchange rates with low transparent fees (no high FX markups). It holds 40+ currencies. It is a great complement or replacement for travel.
What Happens After Cancellation
After you successfully request cancellation of your CIMB credit card, here is what typically happens:
Card Status: The card is usually blocked or marked for closure soon after your request and verification. You can no longer make new transactions, though some pending ones may still process.
Outstanding Balance & Payments: You remain fully responsible for any remaining balance, interest, fees, or instalment plans. These continue until paid off. CIMB will send final statements. Continue making payments via the usual channels (OCTO app, Clicks, ATM, etc.) until the balance reaches zero.
Timeline for Full Closure: Processing usually takes 7 to 14 business days or longer, depending on verification and any outstanding items. You should receive written or email confirmation that the account is closed at your request. Keep this record.
Conclusion
In conclusion, cancelling your CIMB credit card is a straightforward process when approached with proper preparation. By paying off your outstanding balance, redeeming rewards, updating recurring payments, and following the official channels, you can ensure a smooth and complete closure. Go through the article to know in detail.
FAQs
1. Can I cancel my CIMB credit card anytime?
Yes, you can request cancellation at any time as the cardholder. However, the bank will only process it once your account has a zero or credit balance. CIMB may also cancel inactive cards with notice to help you avoid annual fees and SST.
2. What is the fastest way to cancel my CIMB credit card?
The quickest method is to call the 24/7 Consumer Contact Centre at +603 6204 7788. Have your NRIC details and card number ready for verification. Ask for a reference number after submitting your request.
3. Do I need to pay off my balance before canceling?
Yes. CIMB generally requires a zero outstanding balance, including pending transactions, instalments, and fees, before processing cancellation. Any credit balance will be refunded, typically within 90 days.
4. Will I lose my reward points or miles if I cancel?
Yes, unredeemed points, cashback, or miles are usually forfeited upon cancellation. Redeem them before requesting closure.
5. What should I do with the physical card after cancellation?
Once you receive confirmation, cut the card in half across the magnetic strip and the chip for security, then dispose of it safely. Do not discard it before the account is officially closed.
