6E Rewards XL – IndiGo HDFC Bank Credit Card Settlement What to do if you're struggling with dues.
Intro
- 6E Rewards XL Credit Card - Co-branded by IndiGo & HDFC Bank - Earn 6E Rewards on IndiGo & daily spends - Annual Fee: ₹2,500 + GST
Know Your Card
Missed EMIs or high dues? Common causes: - Job loss - Medical emergency - Overspending - Interest pile-up
Common Reasons for Settlement
Not the same as payment! Settlement = - You negotiate a reduced lump-sum - The bank closes the card after payment - Marked as “Settled” in CIBIL
What is a Credit Card Settlement?
- When your total dues are unmanageable - EMI bounce, legal notices - After failed attempts to pay the minimum due - Not for temporary payment issues!
When to Consider Settlement?
- Call HDFC Customer Care - Request for Hardship Settlement - Submit income/medical/job loss proof - Negotiate a final one-time payment - Take everything in writing
Steps to Initiate Settlement
CIBIL Score Impact: - The score may drop by 75–150 points - “Settled” status stays for 7 years - Future loan approvals become difficult
What Happens to Your Credit Score?
Explore other options first: - EMI Conversion - Balance Transfer - Personal Loan - Payment Moratorium (if available)
Tips Before Settling
- Get NOC (No Objection Certificate) - Check your CIBIL report - Rebuild credit slowly - Avoid using more than the 30% limit on future cards
Post-Settlement Steps
Settlement is the last resort, not an escape! If used wisely, it offers a fresh start—but always try to repay in full to protect your financial health. Need help? Contact HDFC’s Settlement Cell today.
Final Thoughts