What is HDFC Pixel Go Credit Card?
HDFC Bank's Pixel Go Credit Card is designed for smart digital users, offering rewards and seamless transactions.
What is Credit Card Settlement?
When you cannot repay your full credit card dues, you can negotiate with the bank to pay a lesser amount. This is called a credit card settlement.
When Do You Need a Settlement?
Job loss, medical emergencies, or financial hardship may lead to non-payment and the need for a credit card settlement.
How to Settle Pixel Go Credit Card Dues?
Call HDFC customer care or visit your HDFC Bank branch. Explain your situation honestly and request a settlement plan.
Negotiate with HDFC Bank
Try to negotiate for a lower lump sum payment or convert dues into manageable EMIs. Be transparent with your financial details.
Always Take a Settlement Letter
Once settled, ask HDFC Bank to issue a written settlement letter as proof. It protects you from future disputes.
Impact on CIBIL Score
Settling a credit card reflects negatively on your credit report. Your CIBIL score may drop and stay affected for up to 7 years.
Alternatives to Settlement
Explore options like EMI conversion, loan consolidation, or balance transfer before settling.
Know the Legal Consequences
If dues remain unpaid, HDFC Bank can initiate legal recovery. Resolve issues before they escalate.
Final Thoughts
Settlement should be your last resort. Make informed decisions to protect your credit health.