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:
- Pay or transfer the outstanding balance. Your card needs to have a $0 balance before you can cancel it.
- 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.
- Cancel direct debits. Avoid penalty charges and other issues by transferring or cancelling direct debits.
- 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.
- 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.
- Check for future statements. Log into your account following your request to make sure that the card has been cancelled.
- Destroy your credit card. Cut the card into pieces to make it impossible for anyone to put it back together.
- 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:
| Provider | Contact information | Availability | Steps available to cancel your credit card |
|---|---|---|---|
| ANZ | 13 22 73 | 24 hours, 7 days a week |
|
| American Express | 1300 132 639 | 24 hours, 7 days a week | Alternatively, you can call the number which can be found at the back of your Amex credit card |
| Bank of Melbourne | 13 22 66 | Monday to Saturday: 8:00 am - 8:00 pm |
|
| BankSA | 13 13 76 | Monday to Saturday: 8:00 am - 8:00 pm |
|
| Bankwest | 13 17 19 | Monday to Saturday: 8:00 am - 8:00 pm |
|
| Citi | 13 24 84 | 24 hours, 7 days a week |
|
| Coles | 1300 306 397 | 24 hours, 7 days a week | Telephone banking: If calling from overseas, dial +61 1300 306 397 |
| Commonwealth Bank | 1800 006 729 | Monday to Friday: 9:00 am - 5:30 pm |
|
| HSBC | 132 152 | 24 hours |
|
| NAB | 13 22 65 | Monday to Friday: 8:00am - 7:00pm, or Weekends: 9:00am - 6:00pm |
|
| St.George | 13 33 30 | Monday to Saturday: 8:00am - 8:00pm |
|
| Virgin Money | 13 37 39 | 24 hours. 7 days a week |
|
| Westpac | 1300 651 0890 | Monday to Friday: 9:00am - 8:00pm |
*Note: You cannot close your account online. |
| Woolworths | 1300 10 1234 | Monday to Friday: 8:00am - 8:00pm, or Saturday: 9:00am - 5:00pm |
|
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.
Rates last updated January 23rd, 2019
FAQs about cancelling a credit card
You might also be interested in:
Images: Shutterstock
