https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9009788
instead close the card after consuming welcome benefits.
Inactive credit card charge
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I have applied for a credit card from Axis bank, which, upon reflection, I now realize I don't want / need. Biometric verification has been completed, and card application is under review. Can I -
1. call and cancel application currently under review?
2. keep the card in inactive state, i.e., don't assign a PIN or something, which would prevent a joining fee or a statement generation?
I can take the CIBIL hit, but I'd rather not be stuck with the card.
1. call and cancel application currently under review?
2. keep the card in inactive state, i.e., don't assign a PIN or something, which would prevent a joining fee or a statement generation?
I can take the CIBIL hit, but I'd rather not be stuck with the card.
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https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9009807
akki.akki wrote:That'll still leave me on the hook to pay relevant fees. Closing the card won't stop them from charging me for it.
instead close the card after consuming welcome benefits.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9009847
dont activate it, it will automatically close
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9009877
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starbearer wrote:which card it is ?
That'll still leave me on the hook to pay relevant fees. Closing the card won't stop them from charging me for it.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010065
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010069
karanoshan wrote:dont activate it, it will automatically close
I hope that's going to be the case, but I'm not certain if it'll attract a statement or a charge of some sort...
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010085
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starbearer wrote:U r Closing Magnus Card just because of Charges, that you can recover in first month itself. Rest 11 months is freeI hope that's going to be the case, but I'm not certain if it'll attract a statement or a charge of some sort...
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010090
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010117
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rahulsoni0706846 wrote:
Afaik magnus also provide 10k vouchers on payment of joining fees as welcome benefits so in the end you have to pay only gst of Rs 1800
Sure, but that's like forced shopping of 10K from Tata Cliq or a flight ticket, neither is attractive. I don't think I'll get much out of the card.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010121
Why did you apply for it in the first place?
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010208
Tanmayyy wrote:Sometimes good decisions taken with adequate deliberation look terrible on hindsight.
Why did you apply for it in the first place?
I thought I'd be able to get good use out of it, but post application, I don't think it'll work out.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010222
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SunnyKh wrote:
U r Closing Magnus Card just because of Charges, that you can recover in first month itself. Rest 11 months is free
Not just charges. I don't think I'll get much use out of the card. So to continue with the card with forced shopping of 10K with Tata Cliq or a flight ticket to nowhere doesn't make much sense.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010300
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starbearer wrote:Why did you even apply when you know your spending pattern/limit. Couldn't resist the hype I guessNot just charges. I don't think I'll get much use out of the card. So to continue with the card with forced shopping of 10K with Tata Cliq or a flight ticket to nowhere doesn't make much sense.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010310
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Drdrake wrote:Heh. No, not the hype. I did consider, but ultimately applied since I though I'd be able to get adequate use out of it. However, some circumstances changed, and it's no longer attractive.
Why did you even apply when you know your spending pattern/limit. Couldn't resist the hype I guess
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010326
Call and ask them to cancel your application (right now), tell them you were mis-sold and you understood benefits/spend criteria wrongly and applied in error with wrong sense of understanding... don't listen to anything they say, just be hard on your decision while communicating. Keep call recorded and send an email to CC dept. with the same statement so that you can refer later.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010481
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starbearer wrote:U can sell this voucher easily in trading section and for spends there are 10k doors open when benefit is 6% . I can reach that in a day but because of IT i am shying away from this card.Not just charges. I don't think I'll get much use out of the card. So to continue with the card with forced shopping of 10K with Tata Cliq or a flight ticket to nowhere doesn't make much sense.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010806
I heard that if you don't activate the CC in the first month it will be closed so there's that.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9010928
As per RBI guidelines, If the customer don't activate a card within 30 days of receiving it, the Bank has to close the card. I did the same with one of my cards (HDFC). The card was active even after 30 days so i wrote an email to CC and they closed it immediately
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9011035
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9013840
Sadly card was approved. Now I'll just hope nothing comes of it when I don't activate.
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9015580
starbearer wrote:Sadly card was approved. Now I'll just hope nothing comes of it when I don't activate.
Irony, people pray for axis card approval...😏
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9015587
Axis -
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9126095
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rahulsoni0706846 wrote:
+1 i also maintaining safe distance from this card because of IT 😔
What is IT
https://www.desidime.com/discussions/inactive-credit-card-charge?page=1#post_9126263
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BilluTheDimer wrote:What is IT
IT = Income Tax Department, this card is only beneficial for purchases of minimum 1L in a month so if someone eyeing for maximum rewards than 1L*12 = 12L is your minimum annual spend and it will be a hard time convincing IT for such high spends if you don’t have inline income and ITR
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Sure, but that's like forced shopping of 10K from Tata Cliq or a flight ticket, neither is attractive. I don't think I'll get much out of the card.