Closing your credit card FAQs
Closing your credit card
How do I close my credit card?
You may close your credit card account via the HSBC Mobile app or HSBC Online Banking.
To close your account, please ensure your account balance is $0.00, and that you’ve:
- Cleared all outstanding balances and pending transactions (refer to 'How do I calculate my payoff figure')
- Redeemed all your rewards points (if applicable)
- Cancelled any recurring payments linked to your card (such as gym memberships or utility payments)
- Resolved any disputed transactions
- Stopped using your card
Step 1
Log on to the mobile app or online banking.
Via HSBC Mobile app:
Select your credit card account. Tap on ‘Manage account’, then select ‘Close credit card account’.
Via HSBC Online banking:
Go to ‘My Banking’, and under ‘Credit Cards Online’ go to ‘Manage your account’. Then go to ‘My Cards’ and select ‘Close my Credit Card Account’.
Step 2
Select the payoff date. This date must be within the current statement period.
Step 3
Review and confirm the details of your request before submitting.
After submitting, you’ll see the confirmation of your request on the screen. Based on your delivery preference, we’ll also send you a final statement (if applicable) and an account closure confirmation letter.
How long will it take to close my credit card if I do it online?
Once you've received your transaction reference confirming that your credit card closure request has been submitted successfully, it will take up to 2 business days to close your account.
What will happen to any recurring payments linked to my credit card?
Before you close your credit card, ensure that all recurring payments linked to your card have been updated with new payment details. You'll need to do this directly with your service providers.
How do I calculate my payout figure?
A payout figure is the exact amount you need to pay to bring your credit card balance to $0 on a specific date. It’s not just your current balance, it also includes any interest, fees and pending transactions that will be charged to the account by that date.
Log on to the mobile app or online banking to calculate your payout amount.
Via mobile app:
Select your credit card account. Tap on ‘Manage account’, then select ‘Close credit card account’.
Via online banking:
Go to ‘My Banking’, and under ‘Credit Cards Online’ go to ‘Manage your account’. Then go to ‘My Cards’ and select ‘Close my Credit Card Account’.
Choose your payoff date and then select 'Calculate payoff'. Payments received before or after this date may lead to a small balance remaining on your credit card account, preventing it from being closed.
When will my credit report be updated?
Your credit report will be updated once your account is closed, either as requested by you or when the account balance is $0 and there are no pending transactions. This usually happens within 55 days after the account closure date.
Where can I find more help?
If you have a credit balance and wish to close your card or have any other questions, please contact us.