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How to Cancel Your CIBC Costco MasterCard: A Comprehensive Guide

Consumer needs change over time, and sometimes that includes a need to cancel a credit card. If you're considering cancelling your CIBC Costco Mastercard, there are several ways to do so, including through online banking, mobile app, and directly contacting customer service. Here's a step-by-step guide presented in an easy-to-understand manner on how to cancel your CIBC Costco MasterCard through these channels.

1. Cancelling through Online Banking

The convenience of online banking allows you to manage your accounts from anywhere. Here's how to cancel your Costco MasterCard through the CIBC online banking:

• First, Log into your CIBC Online Banking account using your card number and password.
• Navigate to 'My accounts' and select 'Credit cards and loans'.
• Find the CIBC Costco MasterCard that you want to cancel and click on 'Manage my card'.
• Select 'Cancel card' and follow the prompts.

Please note that any balance on your card should be cleared before cancellation to avoid additional charges.

2. Cancelling through Mobile App

If you prefer to use your smartphone for banking transactions, cancelling your CIBC Costco MasterCard is just as easy:

• Log in to your account on the CIBC mobile app.
• Tap on 'More' at the bottom right of the home screen, and select 'Manage Cards'.
• Select the credit card you wish to cancel.
• Set 'Card status' to 'Cancel' and follow the prompts.

Just like with online banking, make sure your card balance is cleared before proceeding with the cancellation.

3. Calling Customer Service

If you prefer a more personal touch or need assistance, calling CIBC customer service is a reliable option. Here are the steps:

• Find the customer service number on the back of your CIBC Costco MasterCard. You can also get this number from the CIBC website.
• When you call, you'll be directed to an automated menu. Select the 'card cancellation' option.
• You will be redirected to a customer service representative. Inform them that you wish to cancel your card and follow their instructions.

Remember to ask for a confirmation email or letter as proof of your card cancellation.

Conclusion

Whether you choose online banking, the mobile app, or customer service, ensure all your dues are cleared to make the cancellation process smoother. It is also advisable to redeem any available rewards before cancelling your card. Regularly reviewing your credit requirements helps in maintaining a healthy credit score and wise financial management.

The choice to cancel your CIBC Costco MasterCard is a personal financial decision, and this guide aims to make that process smoother for you.