Trying to cancel

Citibank

? Avoid the runaround.

Citibank (Australia) products — primarily credit cards, personal loans, and legacy bank accounts — can be cancelled at any time, provided:

• Balance is $0 – Pay off all outstanding charges, fees, and interest.
  
  
• Rewards are redeemed – Any unused Citi Rewards or Qantas points are forfeited when you close the account.
  
  
• Recurring payments are cancelled – Update merchants (e.g., Netflix, utilities) before closure to avoid charges slipping through and reopening a balance.
  
  
• Loans and term deposits – Can be closed anytime, though fixed-rate loans may have early break fees.
  
  

There’s no minimum tenure, notice period, or restriction on reapplying for another Citi product later — but bonuses may have eligibility limits (e.g., no signup bonus if you’ve held a similar card in the past 12 months).

Closing a Credit Card (Online)

1. Log in at Citi Online or via the Citi Mobile® App.
   
   
2. Go to Services > Card Services > Manage My Accounts.
   
   
3. Select “Account Closure Request.”
   
   
4. Confirm by following the prompts and acknowledging balance and rewards reminders.
   
   
5. Download your final statement showing $0 balance once closure is complete.
   
   

💡 Many customers report this takes “less than 2 minutes” online.

Closing by Phone

• Call 13 24 84 (24/7 within Australia) or +61 2 8225 0615 (overseas).
  
  
• Provide your details, confirm closure, and note the reference number.
  
  
• Be aware: some customers report long call times and retention offers.
  
  

Closing Loans or Lines of Credit

• Request a payout figure.
  
  
• Pay off in full by the given date.
  
  
• Contact Citibank to confirm closure and request documentation.
  

• Immediate online closure – Accounts show as closed right away if balance is $0.
  
  
• 30-day settlement period – Citi terms state accounts fully terminate 30 days after request, allowing trailing interest or pending charges to clear.
  
  
• Billing cycle timing – Close after paying off the statement to avoid residual interest.
  
  
• Annual fees – Cancel before the anniversary date to avoid charges. If charged, request a refund within the first statement cycle.
  
  
• Rewards – Redeem points before closure — once closed, they’re gone.
  
  
• Direct debits – Cancel 5–7 days before closure to prevent charges sneaking in.
  

• Credit cards & accounts – No cancellation fees.
  
  
• Annual fees – Typically non-refundable. Occasionally refunded if cancelled soon after being charged.
  
  
• Loans – May include discharge or early repayment fees, especially for fixed-rate loans.
  
  
• Trailing interest – Can apply if you close mid-cycle with a balance.
  
  
• Refund handling – Overpayments or post-closure refunds are sent via cheque or transfer.