Credit cards have become an essential part of our daily transactions, offering convenience, rewards, and financial flexibility. Among the popular options in India, the Kotak Mahindra Bank credit card is widely used for its varied benefits and features. Still, there can be situations where you may want to discontinue a card - for instance, if you are simplifying your finances or no longer require multiple active cards.
Read on to learn how to close Kotak credit card, what things you should keep in check before closing a credit card, and how it affects your credit score.
To cancel/close your credit card, kindly contact the Kotak Mahindra Bank credit card customer care number. Refer to the list below for toll-free numbers associated with different types of Kotak credit cards.
| Type of Credit Card | Customer Care Number |
|---|---|
| All credit cards | 1860-266-2666 |
| Privy League credit cards | 1800-266-6666 |
| Kotak 811 credit card | 1860-266-0811 |
You can submit a written request to the Kotak Mahindra Bank clearly stating your credit card number and the reason for cancellation at the nearest branch. Upon receiving your request, the bank executive will begin the process to close your Kotak Bank credit card.
Closing your credit card can have an impact on your credit score. It may reduce the average age of your credit history, which is used to calculate your credit score. It can also affect your credit utilisation ratio, that is, the amount of credit you have used compared to the total credit available to you. If you close a card with a high available credit limit, your utilisation ratio will increase, which can lower your score. It is important to consider these factors carefully before closing your credit card.
The process to close Kotak credit card is fairly simple. You can either contact Kotak Mahindra credit card customer care or stop by a branch to request cancellation. Before proceeding, clear all outstanding dues. It is advisable to redeem all reward points to make the most of your card benefits.
Remember that closing a credit card may modify your credit score. If you’ve made the decision to close your Kotak credit card and are exploring other options, platforms like Quid can help you compare various credit cards and apply for them easily.
You can close your credit card by contacting Kotak Mahindra credit card customer care number ‘1860-266-2666’, ‘1800-266-6666’ for Privy League cards, or ‘1860-266-0811’ for Kotak 811 credit card. You can also visit the nearest branch and submit a formal credit card cancellation letter.
There are no charges for cancelling your Kotak Bank credit card.
Yes, cancelling your credit card can influence your credit score. Closing a credit card with a high available credit limit can increase your credit utilisation ratio, which in turn can decrease your credit score.
You must clear all your credit card dues before closing it. If any amount is pending, the bank will not be able to process your cancellation request.
No. Kotak Bank currently does not provide any online facility to cancel a credit card.
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