New Delhi, Feb. 3 -- Credit cards can be a valuable tool for saving on everyday expenses and earning rewards, provided they are used strategically. With careful planning, you can maximise the benefits of your credit card without straining your finances. However, if not managed properly, credit cards can lead to debt traps. If you have an ICICI Bank credit card and wish to close it, you can easily do so in just three simple steps.

Reward points: As soon as your credit card closes, any accumulated points and offers will automatically expire. Hence, before you decide to close your credit card, you must exhaust your reward points.

Outstanding bills: Make sure that before you raise a request to close the credit card, you keep your outstandin...