Flipkart Axis Bank Super Elite Credit Card Settlement
Discover what credit card settlement means and how to manage your Super Elite card smartly.
What Is Credit Card Settlement?
Settlement happens when you are unable to pay your total dues. You negotiate with the bank to pay a lower amount to close the card.
When Does Settlement Happen?
Continuous missed payments Accumulated high interest Financial hardships (job loss, medical emergency) The bank offers a settlement option when recovery seems tough.
How Does Settlement Work?
- You request/accept a one-time settlement. - The bank agrees on a reduced amount. - You pay the negotiated amount. - The card account is closed.
Impact on Your CIBIL Score
Warning: Using your Flipkart Axis Bank Super Elite Card negatively affects your credit score. It is reported as "Settled" — not “Closed.”
Should You Go for Settlement?
Only if necessary. Exhaust all options like EMIs, part payments, or financial help before settling.
Steps to Settle Your Super Elite Card
- Contact Axis Bank’s credit card support. - Explain your financial situation. - Negotiate the lowest possible settlement. - Get the offer in writing. - Make the payment as agreed.
Documents You Must Collect
- Settlement Letter from Axis Bank - No Dues Certificate (NOC) after payment - These are essential for any future disputes or credit correction.
How to Recover Your Credit Score
-- Wait 6-12 months - Pay other loans/credit cards on time - Take a secured credit card to rebuild trust - Monitor your credit report regularly
Final Words
-- The Flipkart Axis Bank Super Elite Card offers great benefits — use it wisely. - But if you must settle, do it smartly with complete awareness of the consequences.