Cancel a credit card

Last updated: 6 October 2026

There's more to cancelling a credit card than cutting it up. Follow these steps to close your account properly and avoid unexpected fees, missed payments or lost rewards points.

Redirect or cancel regular payments

Utilities, rent, car repayments, gym fees – if you have regular payments coming out of the credit card that you want to cancel, redirect or stop them before you cancel the card.

It’s a good opportunity to go through several months of transactions. You might even find some subscriptions, memberships, or other regular payments you’d forgotten about and no longer need.

You can also ask your bank for a list of regular payments it can identify on your account.

Then, contact each business to cancel the payment or give them details of another card or account.

Redeem any rewards points

If your credit card earns rewards points, check your points balance before you close the account. Depending on the rewards program, you may lose unused points when the account is closed.

You may be able to redeem your points for gift cards, travel, cashback or other rewards. Check your provider's rewards program terms and use any points you want to keep before cancelling the card.

Pay off your credit card in full

To close your account, you will usually need to pay off your credit card in full, including any interest or fees. Also check that there are no pending transactions that could be added to your account.

• If you're paying it off straight away: You can generally pay your card off immediately via either your banking app or online banking. Otherwise, talk to your bank or credit provider over the phone or at a branch.
• If you're finding it hard to pay off your card: Contact your bank or credit provider – they're there to help you. You can also talk to a free financial counsellor. Taking action early helps stop a small money problem from getting bigger.
• If you're transferring your balance to another card: Consider the pros and cons to make sure a credit card balance transfer is the right move for you. Each time you apply for credit, it can affect your credit score. Applying for several credit cards in a short period can affect your credit score and may make it harder to be approved for credit.
• If there's an additional cardholder: If you're the primary cardholder, with someone else as a secondary cardholder, you are responsible for paying the card off before cancelling it.

Visit our cost of living hub for practical help with Moneysmart’s tools, calculators and tips. There are suggestions and links to help you cut expenses, manage your budget and find support.

 

 

Cancel your card and get confirmation

Cancel your credit card online

Many banks let you cancel a credit card through online banking or their mobile app. Follow your provider’s instructions and check that your request was successful.

Cancel over the phone

You can call the credit provider and say you want to cancel your credit card.

They'll ask to verify your identity, as only the primary cardholder can close the account.

It's a good idea to:

• Make a note of the date and time you called, and the name of the person you spoke to.
• Ask when you'll receive confirmation that the account has been closed and whether there's anything else you need to do.
• Follow up with a letter or email confirming your request. Include your account details and who and when you called.

Do a final settlement

Once your card’s cancelled, the account will be closed. You’ll receive confirmation and a final statement. Keep your final statement and closure confirmation for your records.

Make sure to check the final statement when you get it. There could be a final amount owing if any transactions or interest charges were processed after you started the cancellation.

If you have a credit balance when you close the account, it means the credit provider owes you money. Contact your provider and ask how the credit balance will be refunded.

The last thing to do is to destroy your physical credit card by cutting it up. Then - you're done!

If you're struggling with credit card debt, contact your bank or credit provider or talk to a free financial counsellor. Taking action early stops a small money problem from getting bigger.