Axis Bank Neo Credit Card Settlement
Discover how to settle your dues smartly and improve your financial health.
What Is Axis Bank Neo Credit Card?
A lifestyle credit card designed for online shoppers. Offers discounts on Flipkart, BookMyShow, Myntra & more. But like any card, dues can pile up if not managed.
When Do You Need to Settle?
You may need to settle your Axis Neo Card if: - You’ve missed payments. - You're facing high interest & penalties. - You can’t afford the full outstanding amount.
Understand Credit Card Settlement
Settlement means you pay a mutually agreed-upon amount (less than the total dues). The bank considers it a closure, not full payment. It affects your credit score!
Steps to Start the Settlement Process
- Call Axis Bank Customer Care (1860 419 5555). - Request to speak with the settlement department. - Explain your financial hardship. - Ask for a one-time settlement offer.
Documents You May Need
- Identity proof - Address proof - Income proof or a job loss letter - Written request for settlement
Negotiating the Settlement
- Ask for the lowest possible amount. - Request waiver of interest and penalties. - Insist on a No Objection Certificate (NOC) after payment.
Post-Settlement: What to Expect
- Account status marked as "Settled" in CIBIL. - Credit score drops temporarily. - Future loan or credit approvals may become difficult.
How to Rebuild Credit Score
- Pay all bills on time going forward. - Use a secured credit card. - Avoid fresh debt for a while. - Monitor CIBIL regularly.
Final Words
- Axis Bank Neo Credit Card settlement is a last resort. - Use it wisely to avoid legal action or harassment. - Always talk to the bank early—don’t ignore your dues!