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