How to close a Citibank credit card permanently?
Jacqueline Lalchhandama
Asked 27 Feb 2026
I want to close my Citibank credit card to reduce the number of cards on my CIBIL report. What is the correct procedure and how long does it take?
2 Answers
Short answer: no, EMI on credit card is not cheaper than a personal loan for large amounts (>₹50,000). The processing fee (~₹199-₹599) plus the interest (~14-16% reducing) usually adds up to slightly more than a personal loan rate of 11-13%. But for small-ticket EMI (₹10-20K), it is fine.
I've been using this card for over a year now. In my experience, the rewards are decent but the real value is in the lounge access and the milestone benefits. Make sure to read the fine print on the welcome benefit — most banks only credit it after the first transaction, not on approval.
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