How to Cancel Your Credit Card in Singapore—Fast and Hassle-Free!

Why Cancel a Credit Card?

Canceling a credit card isn’t always an easy decision, but sometimes, it’s the right one. Here’s why you might want to ditch your card:

• Useless Rewards – What’s the point of earning air miles when you’d rather get cashback on groceries?
• Sky-High Annual Fees – If the perks don’t justify the cost, you’re just wasting money.
• Security Risks – If your card details get compromised, canceling is sometimes the safest option.
• Decluttering Your Finances – Too many cards can hurt your credit score and tempt you to overspend.

At the end of the day, your credit card should work for you—not the other way around.

What to Do Before Cancelling

Before you go snipping away, take these steps to avoid any financial hiccups:

1. Weigh the Pros and Cons

Canceling a card can impact your credit history, so consider whether it’s worth it. If you’re closing an old card, you might lower your credit score slightly due to a shorter credit history. On the flip side, keeping an unused card with high fees is just dead weight.

2. Redeem Your Rewards

Don’t let your hard-earned points go to waste! Check if your bank allows rewards pooling (like UOB’s UNI$) so your points transfer to another card. Otherwise, cash them in before they disappear!

3. Update Auto-Payments

Scan your statements for recurring charges—Netflix, Spotify, utility bills, insurance, etc. Make sure to update these payments to another card or risk service interruptions and late fees.

4. Pay Off Any Outstanding Balance

You can’t cancel a card with an unpaid balance. Settle all dues to avoid lingering interest charges or penalties.

How to Cancel Your Credit Card in Singapore

Once you’re ready, follow your bank’s cancellation process. Some banks let you cancel online, while others require a phone call. Here’s how to do it for major banks:

How to Cancel an AMEX Card

AMEX makes things simple—just call the customer service number on the back of your card. But if you don’t feel like digging through your wallet, here’s a handy list:

Does Canceling a Credit Card Hurt Your Credit Score?

Yes, but it depends. If it’s your oldest card, your credit history shortens, which may lower your score slightly. However, if you have multiple cards and good credit habits, the impact will be minimal.