Guide to Cancel UOB Credit Card Singapore

Guide to Cancel UOB Credit Card Singapore

By Evea 3 weeks ago

When it comes to managing your financial portfolio, there may come a time when cancelling a credit card becomes a necessary step. Whether you are consolidating your accounts, minimising annual fees, or simply reducing your exposure to credit, cancelling a credit card should be approached with due consideration. This article provides a comprehensive guide to cancelling your UOB credit card in Singapore, ensuring that you handle the process efficiently and without any unwelcome surprises.

Why Would You Cancel a UOB Credit Card?

Before we delve into the ‘how’, it’s worth considering the ‘why’. Here are some common reasons Singaporeans choose to cancel their UOB credit cards:

  • High Annual Fees: Many premium UOB credit cards come with annual charges. If the benefits no longer justify the cost, cancellation becomes an option.
  • Duplicate Features: If you have multiple credit cards offering similar perks such as cashback, miles or dining discounts, consolidating to fewer cards might make more sense.
  • Low Usage: Unused credit cards contribute nothing to your finances and could even impact your credit score if not monitored properly.
  • Financial Discipline: For individuals working on reducing debt or managing spending habits, limiting access to credit can be a prudent move.
  • Promotional Use Only: Many people sign up for credit cards for welcome bonuses or promotional gifts. Once the reward has been claimed, the card may no longer serve a purpose.

Things to Consider Before Cancelling

1. Settle Outstanding Balances

Before initiating the cancellation, ensure that there are no outstanding balances on your UOB credit card. This includes not only regular spending but also any interest, late payment fees or pending instalment payments from UOB’s 0% Instalment Payment Plans (IPP).

If you cancel the card with a balance outstanding, you could face complications, including continued interest charges and a tarnished credit report.

2. Redeem Your UNI$ or Rewards

UOB credit cards often accumulate points under the UNI$ programme, which can be converted into air miles, vouchers, or statement credits. Once a card is cancelled, you forfeit any unused points. Hence, it’s wise to log in to UOB’s rewards portal and redeem your points before initiating cancellation.

3. Monitor Linked Services

Some individuals link their UOB credit cards to recurring payments—think of streaming subscriptions, gym memberships, or utility bills. Make sure to unlink or update your payment details to avoid missed payments or service disruptions.

4. Check for Pending Transactions

Even if your balance appears to be zero, there may be pending transactions that have not yet been posted. Allow a few days for these to clear before requesting the cancellation.

5. Evaluate Impact on Credit Score

While closing a credit card can reduce your overall available credit, thus potentially increasing your credit utilisation ratio, the effect on your credit score is usually minimal, especially if you have other open lines of credit.

How to Cancel Your UOB Credit Card in Singapore

UOB offers several avenues for cancelling your credit card. Here’s a step-by-step guide for each method:

Option 1: Via UOB Customer Service Hotline

The most direct way to cancel your UOB credit card is through their customer service hotline:

📞 UOB Call Centre (24/7):

  • 1800 222 2121 (for local calls)
  • +65 6222 2121 (from overseas)

Steps:

  1. Call the hotline and follow the voice prompts to connect to a customer service officer.
  2. Request for credit card cancellation.
  3. Verify your identity (NRIC, card number, recent transactions may be asked).
  4. The officer will confirm if your card has any outstanding balance or pending transactions.
  5. Once confirmed, the officer will proceed with cancellation and provide a reference number.

Pro Tip: Always ask for an email or SMS confirmation of the cancellation for your records.

Option 2: Via UOB Online Banking (UOB TMRW App or Web)

While UOB does not currently offer card cancellation as a self-service feature directly on its UOB TMRW app, you can use secure messaging via online banking to initiate the process.

Steps:

  1. Log in to UOB TMRW (via app or desktop).
  2. Navigate to “Contact Us” or “Help” section.
  3. Use Secure Message to send a request:
  • Subject: Request to Cancel Credit Card
  • Include your full name, last 4 digits of the card, and the reason for cancellation.
  1. A UOB officer will respond within 1-3 working days with next steps.

Note: Do not include full card number or sensitive personal information in the message.

Option 3: Walk-In to a UOB Branch

If you prefer face-to-face interaction, visiting a UOB branch is a viable option.

Steps:

  1. Bring your NRIC or passport and the physical credit card (if available).
  2. Inform the bank officer you wish to cancel your card.
  3. The officer will perform the necessary checks and help you complete the cancellation.
  4. Ask for a cancellation confirmation slip or email as proof.

Find the nearest branch using UOB’s branch locator.

What Happens After You Cancel?

1. Confirmation

You should receive a formal confirmation via SMS, email, or letter once your credit card has been successfully cancelled. Keep this for your records.

2. Final Statement

UOB will issue a final credit card statement showing a zero balance and confirming the closure. If you still see pending transactions, wait for them to clear and confirm cancellation again.

3. Refund of Credit Balance

If you have a positive balance on your card (e.g., overpaid statement), request a refund. This will typically be refunded to your linked bank account or issued as a cheque.

Can You Reopen a Cancelled UOB Credit Card?

Once cancelled, your credit card cannot be reinstated. If you wish to reapply for the same product in the future, you will need to go through the standard application process again, including income verification and credit checks.

Alternatives to Cancelling: Is Downgrading an Option?

In some cases, you may not need to cancel your UOB credit card entirely. Consider these options:

  • Switch to a no-annual-fee UOB card: If cost is your concern, UOB offers cards like the UOB EVOL Card with no annual fee (with minimum spend).
  • Product Downgrade: Call UOB and request to downgrade your premium card to a more basic one without going through the full reapplication.
  • Temporary Blocking: In cases of misuse or fraud risk, UOB can temporarily block the card rather than cancelling it.

FAQs About UOB Credit Card Cancellation

Q: Can I cancel my UOB card immediately after redeeming a welcome gift?
A: Technically yes, but UOB may claw back the gift if the card is cancelled within the first few months. Check the T&Cs.

Q: Will cancelling my card affect my credit limit with UOB?
A: Yes. Your total available credit with UOB will reduce, which may impact your overall credit utilisation ratio.

Q: Can I cancel a supplementary card only?
A: Yes. You can request to cancel just the supplementary card while keeping the principal card active.

Q: How long does it take for the cancellation to process?
A: Typically within 1–3 working days after final checks are completed.

Final Thoughts

Cancelling your UOB credit card in Singapore is a relatively straightforward process, but one that requires careful planning. From redeeming rewards to settling balances and monitoring automatic payments, every step plays a role in ensuring a smooth exit.

Rather than an impulsive decision, card cancellation should be part of a thoughtful financial strategy. If you are unsure, consider speaking with a UOB officer about alternative options, such as downgrading or switching to a card that better suits your lifestyle and needs.

Managing your credit wisely—whether by adding or subtracting cards—is a powerful step towards long-term financial wellness.