Know how to cancel your Credit Card: Knowing how to cancel your card is as important as knowing how to use it. When you decide to close a Credit Card, make sure all payments have been made and there are no pending dues. Avoid closing cards that still have outstanding balance to be cleared or those that make a significant amount of your credit history. Cancelling such cards impact your credit score.

Learn about cash advances: Credit Cards give you the freedom of taking cash advances. But avail this service only at the time of emergency because cash advances are levied with charges, which you start paying from the day you have taken the advance. There is no grace period on cash advances from a credit card.

Exploring lower rate of interest options for payments: In case of unexpected expenses, it is better to talk to your credit card company and explore different options that you can take advantage of, such as availing low interest credit options. This way you can save on the amount you repay.

Avail credit cards from institutions that follow national & international standards for secure transactions

Do not hand-over your credit card to people, whom you do not know. When you shop, make sure that the card is not out of your sight and you have collected your card at the end of the transaction. Also, before signing the charge slip, check the amount printed on it.

Keep your Credit Card, CVV and helpline numbers saved with you separately and in case of card loss or theft, immediately inform your card issuer and get the card blocked.

Always log in into your credit card account from a secure computer that is malware free. Make a strong password(combination of Upper case, numbers & special characters) for the online account of your credit card and do not share your password with anyone.

Refrain from responding to correspondences that asks for your Credit Card number, expiry date, CVV or password/OTP details. Banks or your card issuer, will never ask for this information from you. Whenever you get such mails, calls, SMS, etc. bring them to the notice of your card issuer.

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Importance of Credit Score

When you apply for a loan or credit card, the lending/issuing company checks your credit score first to determine if you are eligible to avail the loan or get a credit card.

Higher is the score better are your application approval chance. Low score places you in a Risk Zone and makes it difficult to secure an approval.

Some of the factors affecting your Credit Score

1. Irregular payments of your dues: Ensure timely payments of your monthly credit card dues to maintain good credit history and high score.
2. Over- utilization of your credit limit: Usage of credit card balance above credit limit affect credit score negatively.
3. Partial payments: Making partial payments of your monthly credit dues/outstanding bills.

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For NRI customers, in case the documents submitted by a foreign national does not contain the details of address, in such case the documents issued by the Govt departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address.

Note:

*Refer to the RBI circular below:
RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16 (updated as on May 29, 2023)

** For Driving Licenses issued in states where it is specifically mentioned that the document cannot be used as address proof the same will not be acceptable as an address proof KYC document.

Important points to remember:

• Documents should be valid on current date
• Each document should be self-attested
• Please mention your registered e-mail id / registered mobile number either in the e-mail body or on the KYC documents

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You may submit the requisite self - attested documents to us through any of the following modes:

• E-mail the scanned copies to kyc.renewal@sbicard.com from your registered e-mail id
• Log in to your account on wdhu1j.wcbzw.com and upload the documents by clicking
‘Submit KYC documents’ under the ‘My Accounts’ section
• Send the hardcopies of the documents to the below mentioned address:

SBI Card - KYC Renewal
SBI Cards & Payment Services Ltd.
DLF Cyber City, Tower-C, Block 2, 12th Floor
Building 3, DLF Infinity Towers, Gurgaon-122002 (Haryana)

In case your current address is not updated in any of your official documents to be submitted as proof, you can get the same updated using any one of the following options:

•UID/Aadhaar: Visit http://ssup.uidai.gov.in/ssup/ to check the required documents and get your address updated online in UID.
•Voter ID: Register on http://www.nvsp.in and select option ‘migration to other place’.
•Passport: Visit your nearest Passport Seva Kendra.
•Driving License: Visit your respective RTO office.