Axis Bank Shoppers Stop Credit Card Settlement
Learn how to settle your Axis Bank Shoppers Stop Credit Card dues smartly and protect your credit score.
Axis Bank Shoppers Stop Credit Card
A co-branded credit card offering exclusive shopping benefits, discounts, and reward points at Shoppers Stop outlets.
Why Settle a Credit Card?
When you're unable to pay full dues for a long time, settlement becomes an option to avoid mounting interest and recovery pressure.
Step 1 - Evaluate Your Dues
Check your credit card statement for total outstanding, interest, penalties, and late fees before approaching the bank.
Step 2 - Contact Axis Bank
Call customer care or visit the nearest Axis Bank branch to discuss settlement options. You may be directed to the collections department.
Step 3 - Negotiate the Offer
Ask for a one-time settlement or an EMI-based settlement. Try to reduce penalties and get the best waiver possible.
Step 4 - Get NOC in Writing
Once paid, ensure you get a No Objection Certificate (NOC) from the bank stating the account is "Settled" or "Closed".
Impact on Credit Score
Settlement negatively affects your CIBIL Score, but it's better than remaining a defaulter. Future loans may require explanation.
Final Tip
If possible, try to pay off in full. Use credit cards responsibly. Settlement should be the last resort, not a regular solution.