CBI credit card settlement lets you pay a reduced lump sum amount instead of the full outstanding balance, helping you clear dues affordably.

Settlements are considered when you’re facing financial stress—like job loss, medical issues, or prolonged inability to repay your credit card bills.

To start the process, contact CBI customer service or visit a branch. Disclose your financial hardship and request a one-time settlement option.

If approved, CBI offers a reduced amount—typically 40–70% of your total dues—based on your financial condition and repayment history.

Pay the agreed sum, and your card account is updated as “settled.” This means dues are cleared, but not fully repaid as originally agreed.

A “settled” remark on your credit report lowers your credit score and can stay for up to 7 years, affecting future credit approvals.

After settling, always ask for a written settlement letter and a No Dues Certificate to avoid legal issues or future recovery attempts.

Think twice—options like EMIs, balance transfers, or credit counseling may be better if you want to protect your credit score.

CBI credit card settlement gives short-term relief, but long-term effects remain. Know the pros and cons before making your decision.