Why would I cancel my credit card?

There are many different reasons people cancel a credit card. Some of the most common reasons you might want to cancel your card include: If you have an introductory credit card offer or $0 annual fee offer that is about to end. If you want to cut down on your interest charges. If you're not using the benefits of the card (rewards, complimentary insurance etc) and are paying a high annual fee. If you have lost your card or suspect it’s been stolen. If you don't want to be tempted to spend more than you can afford.

I want to cancel two credit cards. Will this have a negative effect on my creditworthiness?

Each time you apply for credit or close a credit account, the details are reflected on your credit file. While lenders might view too many listings as a risk, closing two accounts to minimise available credit is unlikely to hurt your credit score in the long run. Just remember to close the accounts properly so that there are no outstanding debts or defaults for either of the cards.

I cut my credit card up but did not cancel it. Can I get a replacement card?

If you haven't gone through the steps of actually closing your account, you can get a replacement card by calling your credit card provider. Keep in mind that just cutting up a card won't change the fact that your account is active, so fees and charges may still apply even if you don't have a physical card.

How will I know when my account has been closed?

The provider will send you confirmation of the account's closure once the process is complete. Save these details in case there is ever any question in the future about the account.

Will I be charged an annual fee when I cancel a credit card?

If you cancel a credit card before the date that your annual fee is charged, you will not have to pay a new annual fee. If you are not sure when the annual fee is charged, contact your provider to find out. You should also make sure that there is no balance on the card.

What happens if I don't cancel the card but just never use it?

If you don't use the card but have a balance – including from an annual fee – you will need to make minimum payments by the due date on each statement. Otherwise you could be charged late payment fees, which will add to the account balance. If the account has no annual fee and no balance, keeping it open won't usually cost you anything. But you should still regularly check the account details to help protect yourself against fraud.

I am getting ready to buy a home, but have been advised to close any credit card accounts that I don't need or use often, why?

One of the items that lenders look into is your available credit, which is usually in the form of personal loans, other mortgages and credit card accounts. Too much credit is considered a risk and can factor into a bank's decision on how much they will lend you for a home loan. You could cancel a card, especially if you have more than one. But another option is simply to lower your credit limit a few months before you apply. This can lift your borrowing power.

How to cancel a credit card in 5 simple steps

5 steps to properly cancel your credit card

Follow these steps to cancel a credit card successfully:

Pay or transfer the outstanding balance. Make sure the balance on the card is $0 so that you can completely close the account.
Use any reward points. Redeem your points for rewards or transfer them to another loyalty program so that you still get value from them.
Cancel direct debits. Avoid penalty charges and other issues by transferring or cancelling direct debits.
Cancel the card. Depending on the provider, you could cancel your credit card over the phone, online or in writing. Make sure you keep a record of the request by taking a screenshot, reference number or copy of the documents.
Destroy the credit card. Once your credit card provider has confirmed the cancellation, cut the card into pieces (for security) and throw it in the bin.

What else should I think about before cancelling my credit card?

Annual fees. If your credit card has an annual fee, check when it is due to be charged so you can avoid paying it before you close your account. You can do this by looking at your account history or asking the credit card company.
Applying for a new credit card. If your plan is to cancel one card and apply for another one, think about how long it's been since you last applied for a credit card. If it's been less than 12 months, that applying for a few cards in a short amount can have a negative impact on your credit history.
Cancelling a card can actually hurt your credit score. Having a credit card with a low credit limit that you always pay off on time actually helps you build your credit score. Especially if you've had the card for a long time. Cancelling it can impact your credit score because the card was actually helping your overall score. But if you have multiple credit products, reducing that number can improve your score too.

Finder survey: How many credit cards do people usually have?

Response	Male	Female
1	53.2%	49.14%
0	19.17%	32.07%
2	21.62%	15%
3	5.26%	2.76%
4	0.19%	0.86%
5	0.56%	0.17%

Source: Finder survey by Pure Profile of 1113 Australians, December 2023

What number do I call when I want to cancel my credit card?

Many credit cards include a phone number on the back that you can call for account enquiries and cancellations. Otherwise, here are details for contacting the major card companies to cancel your card:

Search by provider

Provider	Contact information	Other ways to cancel your credit card
American Express	1300 132 639	Online: Log in to your account. Go to Account Management > Card Management > Cancel Card Account. Request a cancellation using the online chat. Phone: Call the number on the back of your Amex credit card or the general contact number. If calling from overseas, dial +612 9271 8664.
ANZ	13 22 73	Online via ANZ Internet Banking: Log on to your account. Select Contact > Card enquiries > General card enquiries. Online: Using the Decrease credit card limit or close credit card account request online form. Phone: If calling from overseas, dial +61 3 8693 5077. In person: Visit your nearest branch.
Bank of Melbourne	13 22 66	Mobile app: Log in to your account. Click on the card you want to close, then select Services > Close account and follow the prompts. Online: Select My Accounts > Card Services > Manage My Accounts. Click on the card you want to close and follow the prompts. Phone: If calling from overseas, dial +61 3 8536 7870. In person: Visit your nearest branch.
BankSA	13 13 76	Mobile app: Log in to the app if prompted. Click on the card you want to close, then select Services > Close account and follow the prompts. Online: Log in to your account. Select My Accounts > Card Services > Manage My Accounts. Click on the card you want to close and follow the prompts. Phone: If calling from overseas, dial +61 2 9155 7850 In person: Visit your nearest branch.
Bankwest	13 17 19	Mobile app: Click on the card you want to close, then select Manage > Close account. Online: Log in to your account. Click on the card you want to close, then select See more account details > Close account. In person: Visit your nearest branch.
Citi	13 24 84	Online: Log in to your account. Go to Credit card services > Manage my account > Account closure request and follow the prompts. Phone: If calling from overseas, dial +61 2 8225 0615.
Coles	1300 306 397	Online: Log in to your account. Go to Manage My Card > Account closure request and follow the prompts. Phone: If calling from overseas, dial +61 2 8288 2890.
Commonwealth Bank	13 22 21	CommBank App: Log on to your account Select "Accounts" then choose your credit card. Tap "Manage Account" 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”. Online 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”. Phone: If calling from overseas, dial +61 2 9999 3283. In person: Visit your nearest branch.
HSBC	132 152	Online: Log in to your account. Go to Credit Cards Online > Manage your Account > My Cards > Close my Credit Card Account. Follow the prompts to complete the cancellation process. Phone: 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.
Latitude Financial Services	1300 552 079	Mobile app: Open the app and tap on the card you want to close. Go to the Menu and select Manage account > Close account request. Follow the prompts to complete the cancellation. Online: Fill in the request form found on the Latitude Financial Services website. Phone: If calling from overseas, dial +61 287 478 178.
NAB	13 22 65	Online: Log in to your account. Go to Cards and click on the card you want to close. Select Manage your card > How to close your account and follow the prompts using NAB's secure chat service. Phone: If calling from overseas, dial +61 3 8641 9886. In person: Visit your nearest branch.
Qantas Money	1300 992 700	Online: Log in to your account. Click on the card, then select "Close account" and follow the prompts. Phone: If calling from overseas, dial +61 2 8222 2569.
St.George	13 33 30	Mobile app: Log in to your account. Tap the card you want to cancel, then click on Services > Close account and follow the prompts. Online: Log in to your account. Select My Accounts > Card Services > Manage My Accounts. Click on the card you want to close and follow the prompts. Phone: If calling from overseas, dial +61 2 9155 7800. In person: Visit your nearest branch.
Virgin Money	13 37 39	Online: Log in to your account and select Services from the top menu bar. Select Card Services > Manage my Account > Account Closure Request and follow the prompts. Phone: If calling from overseas, dial +61 2 8288 2222
Westpac	132 032	New Westpac app: Tap the card you want to close. Tap the Information icon > Close account. Classic Westpac app: Tap the card you want to close. Tap Services > Close credit card account and follow the prompts. Online: Go to Service > Services > Account Services. Select Close an account, click on the card you want to close and follow the prompts. Phone: If calling from overseas, dial +61 2 9155 7700. In person: Visit your nearest branch.

Frequently asked questions

There are many different reasons people cancel a credit card. Some of the most common reasons you might want to cancel your card include:
- If you have an introductory credit card offer or $0 annual fee offer that is about to end.
- If you want to cut down on your interest charges.
- If you're not using the benefits of the card (rewards, complimentary insurance etc) and are paying a high annual fee.
- If you have lost your card or suspect it’s been stolen.
- If you don't want to be tempted to spend more than you can afford.
Each time you apply for credit or close a credit account, the details are reflected on your credit file. While lenders might view too many listings as a risk, closing two accounts to minimise available credit is unlikely to hurt your credit score in the long run. Just remember to close the accounts properly so that there are no outstanding debts or defaults for either of the cards.
If you don't use the card but have a balance – including from an annual fee – you will need to make minimum payments by the due date on each statement. Otherwise you could be charged late payment fees, which will add to the account balance.
If the account has no annual fee and no balance, keeping it open won't usually cost you anything. But you should still regularly check the account details to help protect yourself against fraud.
One of the items that lenders look into is your available credit, which is usually in the form of personal loans, other mortgages and credit card accounts. Too much credit is considered a risk and can factor into a bank's decision on how much they will lend you for a home loan.
You could cancel a card, especially if you have more than one. But another option is simply to lower your credit limit a few months before you apply. This can lift your borrowing power.

Thank you for your feedback!

Written by

Amy Bradney-George

Journalist

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full bio

Amy's expertise

Amy has written 548 Finder guides across topics including:

Credit cards
Frequent flyer
Credit score
BNPL
Money management
Sustainability

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