That’s not a lie if we tell it is simpler to use a credit card than to carry money. I mean, the urge for immediate cash can be resolved by credit cards, however you may wish to terminate your credit card for various reasons.
- You have numerous credit cards, are going overseas
- You have elevated interest or yearly charges, or you just don’t want to spend more.
- You don’t want to use credit card and are moving to debit cards
A credit card may appear easy, but the user only understands the implications. It might raise the load if you do not grasp the use of the card. Almost nobody closes their accounts for credit cards. High interest rates may be based on numerous causes.
Should You cancel Credit Card in UAE & Dubai?
When the credit card is canceled, this will influence the lifestyle of the cardholder. Not only may credit card businesses and banks provide perks, but cardholders may also save on daily costs. That is why the meaning must be thought of before a credit card is cancelled.
A credit card cancelation might influence a cardholder’s credit score. Establishing a long-term association with a credit card firm may have favorable effects on the credit, which is why it is unexpected that the credit score of the card owner has a negative influence upon the cancellation of the card.
Steps to Cancel Credit Card in UAE
Here is a list of simple steps to cancel your UAE or Dubai based credit card easily.
- Pay off the balance
You need to repay the debt first to proceed closing your credit card account. It is an invalid choice to delay the payment of the outstanding balance and to ask for cancellation. The arrear of duties increases your duty to the supplier because of your monthly accumulation. Similarly, you will apply your monthly rate on your card debt, therefore it is hard to agree for your monthly interest rate. The sooner your debt is liquidated, the less it affects your credit rating.
- Close Subprime Account
If you are the principal cardholder, please contact your credit card provider to deactivate a secondary card, which might represent the wife, so that you are accountable for any bills on your credit card account. If you are a secondary cardholder, when the principal cardholder shuts your account you cannot keep your account active.
- Contact Customer Service
To call the customer care, use the telephone number at the back of your credit card. Let the agent know that your credit card account is about to be closed. The agent will try to persuade you to keep your account open, but you may state your mind and ask the representative to confirm verbally your desire and ask you to provide an email confirmation or SMS.
- Get Customs Clearance
Finally, you may need to get customs clearance or an NOC for cancelling the credit card. In most cases, you may not be required to get the clearance of the customs in Dubai. However, if you use your credit card to pay for online shopping or for importing goods from other countries, the bank may ask you to get the government or customs clearance before cancelling your credit card.
You need to acquire credit card issuer approval after payment to secure dependable legal protection. This will certify that this supplier will no longer be your responsibility. Your supplier will update all credit rates of the UAE appropriately; nonetheless, the new credit rating necessitates the use of your customs certificate to be safer in order to avoid future disappointments.
Make sure that you have a receipt available from customs department for clearance of the outstanding dues. As you will need this for cancelling your credit card in UAE.
Key Takeaways for Cancelling UAE Credit Card
- To cancel your UAE credit card, cancel subprime account/credit card
- Pay outstanding dues and get clearance certificate from customs (if needed)
- Go to the bank or call customer service, they will guide you properly about how you can cancel your credit card easily
- You can also cancel the UAE bank credit cards with the help of online app or online portal provided with your bank account
That’s all you need to know about cancelling your UAE based credit card. If you have something to add to this article, or if you think that we have missed any information that could be a part of this article, then let us know in the comments below.