man destroying a credit card

How to cancel your Australian credit card

From the steps to take to the numbers to call, here's everything you need to know to close your credit card account.

There comes a time when you need to cancel a credit card. But it’s not quite as simple as cutting your card in half. You can use this guide to source the contact details for different providers, go through the steps you need to take to properly cancel a credit card, understand what else you should consider before closing your account and answers to frequently asked questions. If you're not satisfied with your current card, you can also compare credit card offers to find a better option for you.

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 need to have a zero balance to cancel it.
  2. Transfer any reward points. Redeem them for rewards or transfer them to prevent points from being forfeited.
  3. Cancel direct debits. Avoid penalties from your bank or creditor by cancelling or transferring any direct debits.
  4. Call to cancel your card. If you can 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. If you don’t receive confirmation of the cancellation, follow up with your lender.

What’s the number to call when I want to cancel my credit card?

The phone number on the back of your credit card is usually a good bet, but 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
  • Telephone banking: If calling from overseas, dial +61 3 9683 9999.
  • Visit any nearest branch.
  • Via ANZ Internet Banking:
    • Log on to your account.
    • Select Contact > Card enquiries > General card enquiries.
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

  • Telephone banking: If calling from overseas, dial +61 3 8536 7870.
  • Visit any nearest branch
BankSA 13 13 76 Monday to Saturday:

8:00 am - 8:00 pm

  • Telephone banking: If calling from overseas, dial +61 2 9155 7850
  • Visit any nearest branch
Bankwest 13 17 19 Monday to Saturday:

8:00 am - 8:00 pm

  • Log on to your account via online banking and live chat to a customer service representative
  • Send a BankMail message
  • Visit any branch
Citi 13 24 84 24 hours, 7 days a week
  • Send a written notification
  • Call CitiPhone banking
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

  • Visit any nearest branch
  • Via CommBank App
    • Log on to your account
    • Select “View accounts” then choose your credit card.
    • Tap settings in the top right hand corner then “Close credit card account”.
    • To know whether you’re eligible, read the “Things to know about closing your credit card account”
    • Click on “Continue” at the bottom then “Close account”.
  • Via Netbank
    • Log on to your account.
    • Select “View accounts” then choose your credit card using the drop-down menu.
    • Click the “Account settings” drop-down.
    • Choose “Close my credit card account”.
    • To know whether you’re eligible, read the “Things to know about closing your credit card account”
    • Click on “Continue” at the bottom then “Close account”.
HSBC 132 152 24 hours
  • Telephone banking: If calling from overseas, dial +612 9005 8511.
  • For HSBC Premier customers, call the HSBC Premier Centre on 1300 301 168. If calling from overseas, dial +612 9005 8192.
NAB 13 22 65 Monday to Friday:

8:00am - 7:00pm, or

Weekends:

9:00am - 6:00pm

  • Telephone banking: If calling from overseas, dial +61 3 8641 9083
  • Send a secure message via Internet banking
  • Visit any nearest branch
St.George 13 33 30 Monday to Saturday:

8:00am - 8:00pm

  • Telephone banking: If calling from overseas, dial +61 2 9155 7800
  • Visit any nearest branch
Virgin Money 13 37 39 24 hours. 7 days a week
  • Telephone banking: If calling from overseas, dial +61 2 8288 2222
  • Visit any nearest branch
Westpac 1300 651 08 Monday to Friday:

9:00am - 8:00pm

  • Telephone banking: If calling from overseas, dial +61 2 9155 7700.
  • Visit any nearest branch.

*Note: You cannot close your account online.

Woolworths 1300 10 1234 Monday to Friday:

8:00am - 8:00pm, or

Saturday:

9:00am - 5:00pm

  • Telephone banking: If calling from overseas, dial +61 2 8276 0144
  • Send a written notification

What else should I consider when cancelling my credit card?

cutting credit cards

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 your final payments when you plan to close your account.
  • Applying for a new credit card. If your plan is to cancel one card and apply for a new one, know that applying too many times 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. As well as giving you immediate access to credit if you need it, this strategy can help improve your chances of approval for a new card down the track.

Expert advice on cancelling cards and your credit report

We spoke to Katherine Craig, Equifax’s Public Relations Manager, to get insights on how cancelling a credit card could affect your credit report. She says a priority should be settling outstanding payments on your account before you go to close it so that you can avoid default listings.

“If you have a default on your credit file, it is a smart thing to pay the debt. Your credit report will then record the default as having been paid (and the date on which it was paid). It may impact your ability to get credit or get it at the most valuable price, but it is certainly better than leaving it unpaid."

So what about cancelling one card and applying for another? If that's your goal, Katherine recommends limiting your applications to reduce the impact on your credit rating.

“Credit reports don’t show the type of credit, or whether it was granted or taken up, what (your) current credit limit is or if it is now closed. However, too many applications for credit can impact a lender’s view – it may actually appear to (the banks) that you have a lot more active credit commitments than you do.” If you’ve submitted too many credit card applications in the recent past, Katherine suggests that you wait for around three to six months before applying again.

Compare new credit card offers

Rates last updated October 15th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
25 Month Balance Transfer Offer
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
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.
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.
Citi Rewards Platinum Credit Card - Online Offer
20.99% p.a.
0% p.a. for 24 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 24 months Balance Transfer Offer*
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 24 month balance transfer offer, plus complimentary international travel insurance.
Qantas Premier Everyday
19.99% p.a.
4.9% p.a. for 24 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
$0 First Year Annual Fee & Bonus Points Offer
Take advantage of up to 40,000 bonus Qantas Points, a $0 first year annual fee plus complimentary overseas travel insurance.
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.
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.
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
$129 p.a.
Annual Fee Refund & Balance Transfer Offer*
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000. Plus, 2 airport lounge passes every year.
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.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Bonus Qantas Points Offer*
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.

Compare up to 4 providers

Commonly asked questions about cancelling a credit card

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Sally McMullen

Sally McMullen is an editor at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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Credit Card Offers

Important Information*
Qantas Premier Everyday

Interest rate

19.99

Annual fee

0*

*$49 p.a. after first year

Westpac Low Rate Card

Interest rate

13.49

Annual fee

0*

*$59 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58
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