How to cancel your Australian credit card

A step-by-step guide to closing your credit card account, including what phone numbers to use for different providers.

While you can cancel a credit card at any time, there are a few important details to check before you can settle the account and cut up the card in your wallet. To help keep things simple, here you'll find steps on how to properly cancel a credit card, contact details for some of the main credit card providers in Australia and some of the other important factors to think about before you completely close the account.

What you'll find in this guide

How to properly cancel your credit card

Follow these steps to cancel your credit card successfully:

1. Pay or transfer the outstanding balance. Your card needs to have a $0 balance before you can cancel it.
2. Transfer any reward points. Redeem them for rewards or transfer them to another program so that you still get value from the points you've earned using this card.
3. Cancel direct debits. Avoid penalty charges and other issues by transferring or cancelling direct debits.
4. Cancel card. If you cancel the card over the phone, make a record of the date, time, and name of the representative you speak with.
5. Cancel your card in writing. If you need to send a cancellation request in writing, include your credit card number and account number in the letter and state your request for the card provider to close the account.
6. Check for future statements. Log into your account following your request to make sure that the card has been cancelled.
7. Destroy your credit card. Cut the card into pieces to make it impossible for anyone to put it back together.
8. Confirmation. Your credit card provider should provide confirmation that your credit card account has been closed. If you haven't received any notice of the account closure within 1–2 weeks, follow up with your provider.

What number do I call when I want to cancel my credit card?

Many credit cards include a phone number on the back that you can call for account enquiries and cancellations. Otherwise, here are details for contacting the major card companies to cancel your card:

What else should I consider before cancelling my credit card?

If you're planning to close your credit card account, make sure you also consider the following factors before you take action.

• Annual fees. Check when your credit card annual fee will be charged and whether or not this will affect the outstanding balance you'll need to pay before closing the account. If you want to avoid paying the annual fee for another year, check the date it was charged in the previous year (or the date when you opened your account) and cancel your card before the anniversary of that date.
• Applying for a new credit card. If your plan is to cancel one card and apply for a new one, keep in mind that applying for a number of cards in a short amount of time can have a negative impact on your credit history.
• Bad credit. Poor creditworthiness is bound to affect your ability to get a credit card in the future. So if you already have a lot of debt, you may want to hold off on cancelling your card while you focus on paying down your debts. This strategy can help improve your chances of approval for a new card down the track.

Compare new credit card offers

If you're not happy with your current card but still want one on hand, you could find a better option by comparing some of the latest credit card offers here.

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Name	Product	Purchase rate (p.a.)	Balance transfer rate	Annual fee	Product Description
Citi Clear Platinum Credit Card		12.99% p.a.	0% p.a. for 14 months	$0 p.a. annual fee for the first year ($99 p.a. thereafter)	Platinum Credit Card with a Low Interest Rate * Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.	Go to site More info	Compare	loading Fetching your data...
Westpac Low Rate Card		13.49% p.a.	0% p.a. for 24 months with 1% balance transfer fee	$0 p.a. annual fee for the first year ($59 p.a. thereafter)	$0 First Year Annual Fee & Balance Transfer Offer* Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.	Go to site More info	Compare	loading Fetching your data...
Qantas Premier Platinum		19.99% p.a.	0% p.a. for 18 months	$149 p.a. annual fee for the first year ($299 p.a. thereafter)	100,000 bonus Qantas Points with Balance Transfer Offer Get 70,000 bonus Qantas points when you meet the spend criteria and 30,000 more after the first year (100,000 total). Ends 28 February 2019.	Go to site More info	Compare	loading Fetching your data...
Bankwest Breeze Classic Mastercard		0% p.a. for 6 months (reverts to 12.99% p.a.)	0% p.a. for 26 months with 2% balance transfer fee	$0 p.a. annual fee for the first year ($79 p.a. thereafter)	0% p.a. for 26 months Balance Transfer Offer* Pay 0% p.a. interest on purchases for the first 6 months and 0% p.a. on balance transfers for 26 months. Plus, a $0 first year annual fee.	Go to site More info	Compare	loading Fetching your data...
ANZ Low Rate		12.49% p.a.	0% p.a. for 15 months	$58 p.a.	Long-Term Balance Transfer Offer* Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.	Go to site More info	Compare	loading Fetching your data...
HSBC Platinum Credit Card		19.99% p.a.	0% p.a. for 22 months	$129 p.a.	Annual Fee Refund & Balance Transfer Offer* 0% p.a. for 22 months on balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.	Go to site More info	Compare	loading Fetching your data...
Citi Rewards Platinum Credit Card - Exclusive Bonus Points Offer Exclusive		20.99% p.a.	0% p.a. for 15 months with 1% balance transfer fee	$49 p.a. annual fee for the first year ($149 p.a. thereafter)	Exclusive 100,000 Bonus Points Offer* Enjoy 100,000 bonus Citi reward Points when you spend $3,000 within the first 90 days. Plus, save with a $49 first year annual fee.	Go to site More info	Compare	loading Fetching your data...
Suncorp Clear Options Platinum Credit Card - Online Offer		20.74% p.a.	0% p.a. for 18 months	$49 p.a. annual fee for the first year ($129 p.a. thereafter)	Discounted First Year Annual Fee & Balance Transfer Offer* Save with a 0% balance transfer offer and earn up to 60,000 Bonus Reward Points. Plus, a discounted first year annual fee when you apply online.	Go to site More info	Compare	loading Fetching your data...
ME frank Credit Card		11.99% p.a.		$0 p.a.	No Annual Fee Low Rate Credit Card* Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest-free.	Go to site More info	Compare	loading Fetching your data...
St.George Vertigo Platinum		12.74% p.a.	0% p.a. for 26 months with 2% balance transfer fee	$0 p.a. annual fee for the first year ($99 p.a. thereafter)	Low Rate Platinum Credit Card Offer Offers a long-term balance transfer, $0 first year annual fee, complimentary travel insurance and access to a 24/7 personal concierge service.	Go to site More info	Compare	loading Fetching your data...

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FAQs about cancelling a credit card

• Why would I cancel my credit card?

  There are many different reasons people cancel a credit card. Some of the most common reasons you might want to cancel your card include:

  • The introductory interest rate offer or $0 annual fee period is about to end.
  • You want to cut down on your interest charges.
  • You're not using the benefits of the card (rewards, complimentary insurance etc) and are paying a high annual fee.
  • You lost your card or suspect it’s been stolen.
  • You don't want to be tempted to spend more than you can afford.

  Whatever the reason, it is important that you cancel your card properly to avoid extra fees and hassles down the track.

• I want to cancel two credit cards. Will this have a negative effect on my creditworthiness?

  Each time you apply for credit or close a credit account, it is listed on your credit file. While lenders might view too many listings as a risk, closing two accounts to minimise available credit is unlikely to hurt your credit score in the long run. Just remember to close the accounts properly so that there are no outstanding debts or defaults for either of the cards.

• I cut my credit card up but did not cancel it. Can I get a replacement card?

  If you haven’t initiated the process to formally cancel your card, you can call your credit card provider to ask for a replacement card. Keep in mind that just cutting up a card won't change the fact that your account is active, so fees and charges may still apply even if you don't have a physical card to use for payments.

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