How to close or reduce the limit on your credit card

No, if you've requested to close your credit card account but your account is not paid in full, then we will only be able to cancel your credit card.

After your credit card is cancelled and you have paid the full outstanding balance including any accrued interest and fees, your credit card account will be closed.

If your account is not paid in full on the day you request closure then we will only be able to cancel your credit card. If your card is cancelled, you will:

• Continue to accrue interest and fees until the outstanding balance is paid in full
• Need to pay at least the minimum monthly payment by the due date each month until paid in full
• Be responsible for any transactions debited to the credit card account in accordance with any recurring transaction request or other standing authority or any other authorised link to the credit card account. For recurring payments, you must contact the merchant to arrange another payment option or to cancel the recurring payment altogether
• Receive written confirmation about card cancellation
• Continue to receive monthly statements until the outstanding balance is paid in full.

After your credit card is cancelled and you have paid the full outstanding balance including any accrued interest and fees, your credit card account will be closed.

Once your account is closed, you will receive written confirmation from us by post confirming your account has been closed, as well as your closing account statement.

In certain circumstances, a person authorised to act on behalf of the account holder may close an account holder's credit card account in the above ways.

When selecting your preferred new credit limit, it can be equal to, but must not be less than, the minimum credit limit applicable to your credit card product. 

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