The card cannot be canceled if it is used during the settlement period. Some banks will need to wait for a clearance period of about 45 days when customers cancel their accounts to ensure that there are no delayed transactions on the card before canceling the card. During this clearing period, cardholders must be careful not to use their credit cards for any transactions, otherwise the card cancellation will fail. After the settlement period, the bank will automatically cancel the credit card for you. To be on the safe side, you can also call the bank for confirmation.