Credit Card Cancellation

[tanbir2001]

My mother had applied for a credit card on 31st Jan 2024 with Axis Bank. She had completed her eKYC. After that on the website the application status was not available. We thought axis bank had rejected the application. Meanwhile we changed our mind about the card due to many frauds being reported nowadays and she doesn't know well about using credit cards.But Yesterday on 21st Feb she received an sms that her Axis Bank Neo Credit card is approved and will be dispatched soon. She doesn't want the card now as she fears she won't able to handle it. Will the card and credit account be closed or will there be any charges or Annual fees if she doesn't Activate the card at all after delivery?
Also kindly give me suggestion on what better options I have?

 

[Bharatiya Nagrik]

As per the information given on the Axis website NEO is LTF card so it will not cost anything even if it is not used. But as per RBI a new card not activated within 30 days will be considered as inactive and closed by the bank.
If your mother has any plans to may be further improve her credit score then I would suggest keep using the card may be for 1 or 2 small amount transactions like mobile or electricity bill payment every month and repaying in full before the due date. This way her credit score will increase and help her in future for any loans or a better credit card.
There is always an option to close the card if it's not required.

Hope this helps.

 

[tanbir2001]

As per the information given on the Axis website NEO is LTF card so it will not cost anything even if it is not used. But as per RBI a new card not activated within 30 days will be considered as inactive and closed by the bank.
If your mother has any plans to may be further improve her credit score then I would suggest keep using the card may be for 1 or 2 small amount transactions like mobile or electricity bill payment every month and repaying in full before the due date. This way her credit score will increase and help her in future for any loans or a better credit card.
There is always an option to close the card if it's not required.

Hope this helps.

Thanks for the info. I think Axis Bank lifetime free card ad is misleading. On the web page it's showing life time free but the key fact statement says 250rs+ gst joining and annual charges and lifetime free for only selected users. My mother doesn't want to activate the card at all. She has 4 years of service left. So, it doesn't matter if her credit score gets low.