SpiceJet Axis Bank Voyage Black Credit Card
A premium travel credit card by Axis Bank & SpiceJet offering exclusive benefits like complimentary flight tickets, lounge access, and rewards on every spend.
Key Features of the Card
- Free SpiceClub Gold Membership - 8% off SpiceJet flight bookings - 2 complimentary domestic lounge visits/month - 1 SpiceJet ticket voucher worth ₹4,000 every year
When Does Settlement Become Necessary?
You may need to settle your card dues if: - You default on payments - Face a financial crisis - Credit card debt becomes unmanageable
Settlement
- Impact of Non-Payment - Late fees & high interest - Negative CIBIL score - Constant follow-up by recovery agents - Legal action if the dues are not cleared
What Is Credit Card Settlement?
It’s a process where the bank agrees to accept a partial payment of your total outstanding to close the debt, usually when full repayment isn't possible.
How To Initiate Settlement with Axis Bank?
- Call Axis Bank customer care - Visit the nearest branch - Request for settlement citing financial hardship - Get a settlement letter in writing
Documents You Might Need
- Valid ID proof - Latest income documents - Bank statements - Written explanation of financial difficulties
Important Tips Before Settling
- Negotiate for the lowest possible lump sum - Always take a NOC (No Objection Certificate) - Ask for “Closed” status in CIBIL, not “Settled” - Avoid using the card again after settlement
Impact on CIBIL Score
- “Settled” status lowers your credit score - May impact your ability to get loans in the future - Better to pay in full if possible
Final Advice
Use settlement only as a last resort. Explore EMI options or restructuring before settling. Always maintain a healthy repayment habit to enjoy your credit benefits stress-free.