How to cancel a credit card if it is no longer in use:

1. Cancel via telephone banking. Most credit cards can be canceled through telephone banking. Call the credit card service hotline 4008205555 (dial from mobile phone) or 8008205555 (dial from landline only), enter personal information and press "9" to transfer to manual service. Cancel the credit card under application: If you need to cancel during the credit card application process, or if you have objections to the card application, please call the service hotline for further confirmation (cancellation cannot be done online).

2. Go to the relevant bank counter to cancel the credit card. The cardholder must bring his or her ID card and the credit card to be canceled to the bank to fill out a card cancellation application form.

Applying for a credit card has the following benefits:

1. Benefits of supplementary card: The supplementary card is a supplementary card to the main credit card and is specially used by the cardholder’s family. The supplementary card enjoys the credit limit of the main card, and all outstanding consumption expenditures of the supplementary card can be repaid directly by the main card. For children studying in other places, parents can give their children supplementary cards, and they can control their children's financial expenses through card management.

2. Benefits of points: In order to encourage cardholders to spend more by swiping their cards, banks have set up a point-earning service for swiping their cards. The points earned can be exchanged for exquisite gifts, including daily necessities, home appliances, computer accessories, etc. Most banks have cooperation with airlines, and the points can also be exchanged for airline miles.

3. Benefits of overseas consumption: Credit cards include dual-currency cards and single-currency cards. Dual currency refers to a card that supports domestic consumption and foreign consumption; single currency refers to a card that supports domestic consumption or foreign consumption. When applying, you choose a card with the UnionPay logo or the foreign currency logo. For cards that support foreign currency consumption, you can directly swipe the card for consumption when traveling abroad, and repay the money directly in RMB.

4. Credit benefits: If you don’t have a credit card and have never borrowed money from a bank, you have no credit. At present, in financial and economic activities, having a good credit record is a benefit. For example, when it comes to getting approval for a loan to buy a house or a car, it is much easier for people with a credit record than those with no credit.

However, overdue credit card payments will affect your credit report. Regardless of whether you forget to repay or deliberately fail to repay, as long as it is overdue and uploaded to the credit reporting center, the bad credit reporting record will be retained for 2-5 years. Within these 2-5 years, if you want to buy a house or a car, you will be affected by a bad credit record. In most cases, the loan approval will be rejected.