Axis Bank Freecharge Credit Card Settlement
Struggling with dues? Here's how to settle your Axis Bank Freecharge Credit Card easily and smartly.
What is the Freecharge Credit Card?
It’s a co-branded credit card by Axis Bank and Freecharge that offers cashback, discounts, and rewards on daily spending and digital payments.
Why Do You Need a Settlement?
You might consider settlement if: - You're unable to pay full dues - Facing financial hardship - Want to close the card permanently.
What Does 'Settlement' Mean?
Settlement means negotiating with the bank to pay a lesser amount than the total outstanding to close the dues permanently.
Step 1 - Contact Axis Bank
- Call customer care at 1860-419-5555 or visit your nearest Axis Bank branch. - Ask to speak to the debt settlement/collections department.
Step 2 - Negotiate a Settlement Offer
Explain your financial situation. The bank may offer: - One-time lump-sum payment - Reduced interest or waiver of penalties
Step 3 - Get a Settlement Letter
- Always ask for a written settlement letter from Axis Bank. - It should include the settled amount, payment deadline, and closure terms.
Step 4 - Make the Payment
- Pay the agreed settlement amount before the deadline. - Use official Axis Bank payment channels and keep proof of payment.
Step 5 - Get a NOC & Update CIBIL
- Ask for a No Objection Certificate (NOC) after payment. - Your CIBIL report will show “Settled,” which is better than “Written Off” but still impacts your credit score.
Final Tips & Warnings
- Think before settling – it affects your credit profile. - Try to pay full dues if possible - Rebuild your credit score after settlement - Always keep documentation