IndianOil Axis Bank RuPay Credit Card Settlement
Discover how to settle your IndianOil Axis Bank RuPay Credit Card dues smartly and protect your credit score.
About the Card
The IndianOil Axis Bank RuPay Credit Card offers fuel benefits, cashback, and reward points – perfect for frequent drivers.
Why Settlement May Be Needed
Cardholders may need a settlement due to: - Missed payments - Financial hardship - Unexpected emergencies - Over-limit charges are piling up.
What is Credit Card Settlement?
Settlement means paying a mutually agreed-upon reduced amount to close the card account, usually less than the total due.
Step 1 – Contact Customer Care
- Call Axis Bank customer care or visit the branch. - Explain your situation and ask for a one-time settlement offer.
Step 2 – Get a Settlement Offer
The bank may offer: - Lump-sum discount - EMI option - Written agreement with amount, due date & terms
Step 3 – Make the Payment
- Pay the agreed amount within the deadline. - Always ask for a No Dues Certificate (NDC) from the bank.
Step 4 – CIBIL Score Impact
- Settlement is marked as “Settled” (not “Closed”) on your credit report. - This can hurt your credit score for up to 7 years.
Alternatives to Settlement
Try these before settling: - Convert dues to EMI - Request a due date extension - Opt for a balance transfer to another bank.
Final Tip
Use credit cards wisely. Act early to avoid settlement and save your credit health if facing payment issues.