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Can I still use China Merchants Bank's credit card after applying for cancellation?
Can't use it. But you can apply for restoration.

If China Merchants Bank cancels its credit card, it can be transferred to manual service by calling the customer service hotline of China Merchants Bank within half a year. The application for card loss is subject to the audit results. You can only apply for a new credit card if you cancel your credit card account for more than 6 months or fail to apply for a refund.