Learn everything about How to Cancel Mashreq Bank Credit Card in Dubai?
To cancel a Mashreq credit card, you will typically need to follow a specific process outlined by the bank. Keep in mind that the exact procedure may vary, and it’s essential to contact Mashreq Bank directly for the most accurate and up-to-date information. Here’s a general guide on how you might proceed:
- Contact Customer Service:
- Call Mashreq Bank’s customer service helpline. You can find the contact number on the back of your credit card or on the bank’s official website.
- Provide Necessary Information:
- Be prepared to provide your credit card details, personal information, and any other details the customer service representative may request to verify your identity.
- Request Cancellation:
- Clearly express your intention to cancel the credit card. The customer service representative will guide you through the process.
- Follow Instructions:
- Listen carefully to the instructions given by the customer service representative. They may provide information on any outstanding balances, fees, or steps you need to take to complete the cancellation.
- Settle Outstanding Balances:
- Ensure that you settle any outstanding balances on the credit card. This may involve paying off the full balance or arranging a payment plan.
- Return the Card:
- Follow any instructions regarding the return of the physical credit card. Some banks may require you to cut the card in half and return it to them.
- Request written confirmation of the cancellation. This could be in the form of an email or letter confirming that your credit card has been canceled.
- Monitor Statements:
- Keep an eye on your bank statements to verify that no further charges are incurred on the canceled credit card.
Remember that policies and procedures can change, so it’s crucial to contact Mashreq Bank directly to get the most accurate and current information. Additionally, be aware of any potential fees associated with canceling the credit card and address any outstanding balances promptly to avoid any complications.
How Much Does it Cost to Cancel Mashreq Credit Card?
(Video) for canceling Mashreq Credit card in Dubai with ease. Watch the video carefully explaining the whole process in detail below.
Fees for cancelling the Mashreq credit card is 300 AED. However, it is better to check the schedule of charges because they are updated on a bi-yearly basis. If there is a change in the charges, the SOC document will be able to tell you in more detail.
Is there a fees for cancelling Mashreq bank credit card?
Mashreq Bank charges various fees for its credit card services, but there is no specific mention of a fee for closing the credit card account. However, there are some fees associated with credit card usage, such as:
- Balance transfer/easy cash (installment plan) cancellation fee: AED 105
- Account closure fee: AED 100 within 6 months of opening the account, and the fee is waived for accounts opened over 6 months
- Cash withdrawal charges (over the counter): Varying fees depending on the currency and location
- Credit card closure certificate: EGP 50
Please note that these fees are subject to change, and it is advisable to check the most up-to-date information on Mashreq Bank’s website or contact their customer service for the most accurate and current information on fees related to closing credit card accounts.
How to Cancel Mashreq Credit Card Online?
To cancel your Mashreq credit card online, follow these steps:
- Log in to your Mashreq online banking account.
- Navigate to the “Cards” tile and select the card you want to cancel.
- Click on “More Actions” and select “Cancel Credit Card.”
- If you have any billed outstanding balance, you will be asked to pay this within the app.
If you encounter any issues or need further assistance, you can contact Mashreq customer care at 04-424 44 44. Keep in mind that Mashreq Bank does not allow customers to close their accounts online, so you may need to call their customer care to complete the process.
Checklist for Cancelling Your Mashreq Credit Card in UAE
- Check your credit balance and pay off outstanding amount: Ensure that your credit card account has a zero balance and settle any outstanding payments.
- Close supplementary cards: If you have any supplementary cards linked to your primary card, close them as well.
- Contact customer care service: Reach out to your bank’s customer care service to request the cancellation of your credit card. You can do this through online banking, mobile banking, or by calling the bank.
- Submit a written request: Prepare a written request detailing your credit card details and the reason for the cancellation. You can find the request form on the bank’s website or contact them for guidance.
- Receive confirmation: After submitting your request, the bank will contact you to confirm the cancellation of your credit card. Make sure to save any messages or documents related to the account closure.
- Request a sanction letter: Ask the bank for a printed document or sanction letter stating that your account has been closed. This is important as banks may sometimes miss deactivating your account, which could affect your credit score.
Remember to follow these steps to ensure a smooth and successful credit card cancellation process.
Can I Deactivate My Credit Card Online?
If your bank offers an online support center or a chat option, then you may be able to close your account online.
To request the account closure, you can contact your credit card issuer electronically, and they may handle the process for you without the need to call them by phone. Here are some key points to consider:
- Secure Chat: Major credit card companies typically provide a secure chat feature for online communication. Your online card account provides you with a messaging system that you must use.
- Email: Some banks may allow you to send an email to request the cancellation of your credit card. Check your bank’s website or contact their customer care for specific instructions.
- Account Closure: Before closing your account, ensure that you have settled all outstanding balances and fees. You may need to provide a written request for account closure, which can be done by downloading a card closure form from the issuer’s website or by contacting the card issuer directly.
- Bank Branch: In some cases, you may need to visit a bank branch to close your account. Bring your Emirates ID or passport for identification, along with any cards, credit books, and cheque books.
- Joint Account: If you have a joint account, all account holders must visit the branch together to request the account closure.
- Fees: Be aware of any fees associated with closing your account, such as a fee of AED 100 if the account is closed within one year of opening.
Remember to keep a record of your correspondence with the bank and follow their specific instructions for account closure to avoid any issues or additional fees.