How to close your NAB credit card. The info you need to know.

Roberto Efflandrin

NAB (or National Australia Bank) provides a credit card service that you may already be using, and you may have even thought about cancelling it. However, many people are intimidated by this process, feeling overwhelmed and fearing credit score penalties.

In this article, we will be explaining exactly how to cancel your NAB credit card in simple steps. We will also cover what you will have to do before closing your card, what to expect along the way, and whether you should expect credit score penalties or closing fees.

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What to do before you close your NAB credit card

If you have decided to close your NAB credit card, the most important thing you will have to do is settle any debts or pending charges. This may include fees, interest and charges depending on the credit card product you use. ¹

It's also important to remember that any reward points not yet credited will be forfeited, and if you use your credit card to access your NAB payments account, you will lose access to this too. To prevent this, you will need to order a debit card online or at an NAB branch if you don’t have one. ³

How do I close an NAB credit card account?

Once you’ve settled your balance, closing an NAB credit card account is very simple, but the specific steps depend on how you choose to close your account.

Closing your NAB Credit Card Account Through Online Live Chat

Perhaps the fastest way to close your NAB credit card is through NAB’s online Live Chat service. This feature is available for NAB online bankers that use the mobile app or browser webpage, and may be completed through the following steps:

  • Log into your NAB online banking account
  • In the bottom right corner of your screen, click the chat icon to open the NAB Virtual Assistant
  • In the chat box, type "Close credit card" and then click on "Chat with a specialist"
  • An NAB representative will take it from here, helping you to complete your card closure ¹

Closing your NAB Credit Card Account at a Branch

If you’re not a fan of technology and would prefer to cancel your NAB credit card face-to-face, you may visit your local branch to speak to an NAB representative. You will need to bring along your ID and any relevant paper documentation.

An NAB staff member will be able to check that your balance is in order before you cancel the card and will advise you on what to expect moving forward. ²

How long does it take to cancel a credit card?

Once you have submitted a request to cancel your NAB credit card, the cancellation could occur in a few hours or a few days depending on how you chose to request it.

Once your cancellation request has been approved, you will still have access to viewing your credit card account on NAB online banking for three to six months after the balance settlement. Your NAB Reward Points will also still be accessible, but only within 60 days of card closure. ¹

Is there a fee for closing your credit card with NAB

NAB does not charge a fee when you cancel your credit card. However, cancelling your NAB credit card will mean that accrued interest, fees, and pending payments will need to be settled to prevent credit card fees and credit score penalties. ¹

What to know before closing your NAB credit card

Something that you will have to consider before closing your NAB credit card is whether you are the sole cardholder associated with the account. You will only be able to cancel your NAB credit card if you are the primary account holder, and any additional associated cards will be closed.

It’s also important to ensure you have cancelled all recurring payments and subscriptions from your NAB credit card before you cancel it. Once you have settled this balance and have confirmed cancellation with NAB, you will be ordered to cut the physical card and chip diagonally in half. ¹

Contacting NAB

If you wish to contact NAB on your phone, you may do so for free through the NAB mobile app. However, if you do not use the NAB app and wish to call them through telephone services, you may use the following numbers:

  • Australia: 13 22 65
  • Overseas: +61 3 8641 9083
  • Australia Emergency: 1800 033 103
  • Overseas Emergency: +61 3 8641 9121

Whilst emergency lines are available toll-free 24/7, standard Australia and Overseas lines are only open from 8 am to 7 pm from Monday to Friday, and 9 am to 6 pm on Sundays. ⁴

FAQs

Can you cancel your credit card anytime?

Yes — as long as you are the primary account holder and have settled your outstanding credit card balances, you can cancel your credit card at any time online. ⁶

Is it better to cancel a credit card or let it close?

Cancelling your credit card is best if the account holds no outstanding charges and you no longer use it, but if you’ve yet to settle your debts, it’s better to keep the card open to avoid credit penalties. ¹

Does cancelling a card hurt credit?

Cancelling your NAB credit card may affect your credit score depending on your unique credit situation. All credit factors are considered by credit reporting bodies such as illion, Equifax and Experian, and can be assessed by investigating your NAB credit report or requesting a free credit report. ⁷

Does immediately closing a credit card hurt your credit?

Your credit score will not necessarily be hurt by immediately closing a credit card, but it may be wise to request a free credit report to understand your specific situation.

What to do in case of lost or stolen NAB credit card

If you find your NAB credit card lost or stolen, you should block your card online, and immediately call the 24/7 NAB emergency helpline on 1800 033 103 for Australian callers or +61 3 8641 9121 for overseas. ⁵

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Sources:

  1. NAB: How to Make Changes to Your Credit Card Account
  2. NAB: Close an Account
  3. NAB: Manage Your Credit Card
  4. NAB: Contact Us
  5. NAB: Lost or Stolen Cards
  6. NAB: How to Block or Unblock Your Cards
  7. NAB: Credit Reporting and Credit History

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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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