ICICI Bank Carbon Credit Card Settlement
Everything you need to know to clear your dues smartly!
What is the ICICI Carbon Credit Card?
- A premium credit card by ICICI Bank. - Offers rewards, security features, and convenience. - Designed for high-value customers.
When Does Settlement Become Necessary?
- Unable to pay the full outstanding dues. - Accumulating late fees and interest. - Risk of default impacting your credit score.
What is Credit Card Settlement?
- A mutual agreement with ICICI Bank. - Pay a lump sum less than the total dues. - The account is marked as "settled" in the CIBIL report.
How To Initiate Settlement?
- Contact ICICI Bank customer care. - Request to speak with the Settlement or Recovery Department. - Explain your financial hardship.
Negotiation Process
- The bank offers a lump sum settlement amount. - You can negotiate better terms if needed. - Get the final settlement offer in writing.
Important Documents To Collect
- Settlement letter from ICICI Bank. - Payment acknowledgment receipt. - No Due Certificate after payment.
Impact on Your CIBIL Score
- The account will be "Settled," not "Closed." - CIBIL score will drop initially. - Recovery takes time with responsible credit use.
Things to Remember
- Always prefer to pay in full if possible. - Settlement is a last resort option. - Keep proof of settlement safe for the future.
Final Words
Settle smart, rebuild faster! Clear your ICICI Bank Carbon Card dues wisely and plan your credit journey better.