Axis Bank Burgundy Private Credit Card Settlement

Unlock everything you need to know about smartly settling your high-end credit card dues.

What is Axis Bank Burgundy Private Credit Card?

A premium, invite-only credit card by Axis Bank offers luxury privileges, lifestyle benefits, and concierge services for HNIs.

When Do You Need to Settle the Card?

- Unable to pay the full outstanding dues - Prolonged default or financial hardship - Risk of legal notices or a poor credit score

What is Credit Card Settlement?

A mutual agreement between you and the bank to pay a reduced amount as a final payment. Note: It impacts your CIBIL score negatively.

Steps to Initiate Settlement

- Contact Axis Bank’s customer care - Request a settlement option due to genuine hardship - Submit income/expense proof if required - Wait for a settlement offer

Negotiating a Fair Settlement

- Always try to reduce interest & penalties - Request installment options if the lump sum is hard - Ask for written confirmation of the settlement

Get a No Dues Certificate

After payment, ask for: - No Dues Certificate - Settlement letter - Closure of credit card account

CIBIL Score Impact

- Status will reflect as ‘Settled’ — not ‘Closed’ - Your credit score may drop by 75–100 points - Can affect future loan/credit approvals

How to Rebuild Credit After Settlement

- Pay EMIs and bills on time - Use a secured credit card or a low-limit card - Keep credit utilization low - Monitor your CIBIL report

Final Thoughts

Axis Burgundy Private Credit Card Settlement is a relief option, but use it wisely. - Settle only if repayment is truly impossible - Try full repayment for best financial health