How to Cancel a Credit Card in Malaysia

Eloise Lau

9th September 2025 - 3 min read

Thinking of cancelling a credit card? Whether you’re trying to avoid annual fees or just don’t use it anymore, you’ll need to close your credit card account the right way. You’ll be able to avoid surprise charges down the line and protect your credit score. Here’s how to do it:

What to Do Before You Cancel

Before you even think about contacting your bank, run through this quick checklist. Getting these things sorted first will save you a headache later.

Use Your Rewards: Don’t forget to redeem all your rewards points, cashback, and air miles. Once the card is cancelled, you’ll likely lose them for good.
Clear Your Balance: You need to pay off your entire outstanding balance. Banks won’t even consider a cancellation request if you still owe them money on that card.
Update Recurring Payments: Check your statements for any auto-debit payments like your Netflix subscription, phone bill, or insurance. Make sure you switch these payments to another card to avoid any service interruptions.

How to Actually Cancel The Card

Once you’ve ticked everything off your checklist, you’re ready to make the call. Most banks in Malaysia give you a few options:

Call Your Bank’s Customer Service Hotline: This is usually the fastest method. The number is on the back of your credit card. Tell the representative you want to cancel, and they’ll walk you through the process. Make sure to get a reference number for your records.
Visit a Bank Branch: If you prefer doing things in person, just head to any of your bank’s branches. Bring your MyKad and the credit card you’re cancelling, and a bank officer will help you out.
Online Banking or Secure Mail: Some banks let you request a cancellation through their online portal or secure mail. Check your bank’s website or app to see if this is an option for you.

Should You Cancel or Keep Your Credit Card?

Deciding whether to cancel a card isn’t always straightforward, as it can affect your credit health.

Reasons to Keep Your Credit Card: An old credit card with a long payment history is actually good for your credit score. If it has no annual fee and you can trust yourself not to use it, keeping the account open (with zero balance) helps maintain your credit history and improves your credit utilisation ratio.

Reasons to Cancel: It’s probably time to cancel if the card has a high annual fee you can’t get waived, tempts you to overspend, or offers rewards that don’t fit your lifestyle anymore. Sometimes, having fewer cards to worry about makes life easier.

And that’s it! As long as you follow these steps, closing your credit card account should be a smooth, hassle-free process. If you’re closing one card to make way for a new one, remember to compare the best credit cards in Malaysia to find one that fits your needs.

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Eloise Lau

As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.

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