Struggling with your Axis Bank Rewards Credit Card dues? Here’s a quick guide to settling your card the smart way!
Credit card settlement is when you negotiate with the bank to pay a reduced amount instead of the total outstanding balance.
What Is Credit Card Settlement?
If you're facing financial hardship and can’t repay your Axis Bank Rewards Credit Card dues, settlement might be an option.
Why Settle Your Axis Rewards Card?
Settlement affects your CIBIL score negatively. It stays on your credit report for up to 7 years.
Know the Consequences
Call Axis Bank customer care or visit your nearest branch to request a settlement offer. Be honest about your financial situation.
How to Initiate Settlement
Banks often prefer a one-time payment. Depending on your case, you can negotiate to pay 50–70% of the total due.
Negotiating a Fair Offer
Before you pay, ask for a written settlement letter from Axis Bank confirming the agreed amount and closure terms.
Get a Settlement Letter
Make the payment through an official Axis Bank channel. Keep the transaction receipt safe for future reference.
Make the Payment
Once the payment is done, request a No Objection Certificate (NOC). This proves that your account is closed post-settlement.
Request a NOC
To rebuild financial health, start small with secured credit cards, repay on time, and monitor your credit score regularly.
Rebuild Your Credit