You can usually cancel a credit card through your bank, but closing the account takes a little preparation. Check your points, move regular payments and settle the final amount before you call it done.

What should you check before cancelling a credit card?

Make a small closure folder before you start: recent statements, your rewards balance and a list of payments to move. It gives you somewhere to keep the confirmation later. Boring admin? Absolutely. Useful when a stray charge appears? Also yes.

Check the next annual-fee date with your bank. Ask whether a fee is about to be charged and whether any refund applies; do not assume cancelling automatically earns a refund. If you pay a separate rewards-program fee, ask about that charge separately.

If a bank is withdrawing your card, follow its specific notice. Our HSBC closure guide covers that separate situation. This checklist is for requesting closure yourself.

Will you lose your rewards points?

Check both the points already credited and those still waiting to be transferred. They can have different rules.

NAB provides a useful example: uncredited Qantas, Velocity or Flybuys points are forfeited when the account closes, including points earned in the current statement period. Credited NAB Rewards Points have a 60-day redemption window after closure. Those are NAB rules, not a promise about every bank.

Before requesting closure, ask your issuer what happens to pending points and any bonus still to arrive. Confirm any transfer or redemption has completed. Use our points valuation guide to understand redemption value rather than choosing a reward in a rush.

How do you move subscriptions and other payments?

Review several statements for regular merchants. Include annual subscriptions as well as monthly bills. Contact each business to change the payment method or end the service under its cancellation terms.

A recurring card payment is different from a direct debit from a bank account. Moneysmart says to contact the service provider, then your bank, to cancel a recurring card payment. Our guide to regular card payments explains the distinction.

NAB warns that some merchant charges can still process after account closure. Closing the card does not end the underlying agreement. Keep records of payment changes and check the next bill uses the right account.

Why can the payout figure differ from your balance?

The amount displayed in your app may not be the final amount needed to close. ANZ says a payout figure can change daily because of pending or recurring transactions and accrued interest.

Ask for a payout figure for the day you intend to pay. NAB says its figure is valid for that day and can include pending transactions, interest and fees. If you pay later, request an updated figure.

Check	Ask your bank
Closing balance	What is the payout figure for my payment date?
Pending activity	Are transactions or unresolved disputes still outstanding?
Money owed to you	How will a credit balance be returned?
Completion	When will I receive account-closure confirmation?

If paying everything now is difficult, speak to your bank about assistance. If considering a transfer, compare the fees and repayment period on our balance-transfer comparison. A transfer does not replace the need to confirm closure of the old account.

How do you request closure and know it is complete?

Follow your issuer instructions in its app or online banking or contact the bank directly. Be clear that you want to close the credit card account. Ask what remains outstanding if the bank can only cancel the card initially.

Save confirmation, review the final statement and follow up any remaining amount. If the account is in credit, ask how the money will be refunded. Destroy the physical card once closure is confirmed.

Our FAQ on closing a balance-transfer card addresses the specific end-of-promotion question.

“Treat closure as a checklist, not a single button. The finish line is a settled account and confirmation you can keep.”

Frequently asked questions

Final tips

Keep your payment-change records with the closure confirmation. If you need a replacement, start with the features you actually use on our no annual fee comparison. Compare any separate program fees too.

Sources: Moneysmart: cancelling a card; Moneysmart: recurring payments; ANZ: closing an account; NAB: payout and closure.

General advice only: this information does not take into account your objectives, financial situation or needs. Consider the Target Market Determination (TMD) and the terms and conditions before applying for a credit card. Check your issuer instructions and rewards terms before closing an account. Card details are correct as at 25 October 2026 and can change.