The Bank of China Olympic Credit Card must be canceled if it is no longer used. Credit cards are different from ordinary savings cards. Credit cards can be overdrafted. If there is no balance in the card, the annual fee will be automatically deducted in the form of overdraft, and then late payment fees and penalty interest will accrue. The longer it takes, the more you will owe and may leave a bad credit record. In other words, you can spend money whether or not there is money in the card. Once activated, even if the cardholder does not use it, the annual fee will still be deducted.

As for how to deal with bank cards that are not commonly used, it is recommended that cardholders take the initiative to go to bank branches to cancel their accounts to avoid unnecessary fees due to insufficient account balances. Canceling a credit card does not mean canceling the account. Card cancellation means canceling the unused credit card, but the customer information still exists. Once personal information is collected by criminals and a new credit card application is submitted to the bank, there will be a risk of being swiped.

Currently, most bank credit card cancellations can be processed through the customer service hotline, without the need to go to a bank branch. To cancel a debit card, the cardholder is required to go to a bank branch, but not necessarily to the bank branch where the card was issued. It only needs to be done at any branch of the card-issuing bank in the same city.