Shoppers Stop HDFC Bank Credit Card Settlement
Everything you need to know about settling your dues on this co-branded card.
What Will the Shoppers Stop HDFC Bank Credit Card?
It’s a co-branded credit card by HDFC Bank and Shoppers Stop, offering loyal customers exclusive rewards, cashback, and lifestyle benefits.
When Do You Need to Settle?
You may consider settling your credit card when: - You’re unable to pay full dues - You’ve defaulted for months - You want to close the card with a reduced payment
What Does ‘Settlement’ Mean?
Settlement refers to paying the bank a negotiated amount (less than the total outstanding), after which your account is closed. It negatively impacts your CIBIL score.
Steps to Initiate Settlement
- Contact HDFC Bank customer care - Request to speak with the settlement department - Explain your financial hardship - Wait for their settlement offer
Documents You May Need
- Identity Proof - Income Proof (if applicable) - Settlement Request Letter - Written Agreement (from the bank)
What Happens After Settlement?
- Your card is blocked/closed - You receive a No Dues Certificate - Your CIBIL report will show “Settled” status for 7 years
Things to Keep in Mind
- Don’t settle unless it’s a last resort - Always get settlement terms in writing - Don’t ignore follow-up communication
Alternatives to Settlement
- Convert dues to EMIs - Use a balance transfer - Negotiate interest rate reductions - Seek credit counseling
Final Words
Settling your Shoppers Stop HDFC Credit Card can offer short-term relief, but it may hurt your long-term credit health. Act wisely and consider all options before making a decision.