Yes, it is possible. Your credit card cancellation request cannot be refused on the grounds that there is a debt balance associated with that credit card. No annual membership fee can be charged during the debt repayment periods of credit cards cancelled in this way.
How do installments continue after the card is closed?
Closing the card does not erase the debt; the remaining installments continue to be collected in the statement periods. The customer should find out the remaining balance from the bank before closing the card.
Since automatic payment orders will stop working once the card is closed, bills and subscriptions should be moved to a new payment instrument. It is also important to submit the closure request through a written or recorded channel and to keep the confirmation.
Customers who wish can pay off the debt early and get rid of the interest burden.
