4 Ways To Avoid Suspension Of Your Credit Card
Posted by rupee on Saturday, March 16, 2013 Under: Credit Card
There are several responsible factors that give birth to the suspension of a credit card. Nonpayment of dues, prolonged balance and unsavory bad credit are some of the reasons behind the suspension.
Do you want to avoid the suspension?
Here are four ways that would help you avoid getting your plastic money suspended or canceled.
Has your credit card been canceled due to inactivity?
If you have not used your cash credit for months, do not get astonished when you get an email notification of your account suspension. Some issuers notify this in advance, but in most cases you realize this only after knowing the fact.
To tackle this issue, you should firstly avoid any possible suspension because of inactivity. Secondly, set up a small recurring payment such as online bill, gym membership, and activate “Auto Payment” to ensure constant payment every month.
Another option is to use your card at least once in every month. It could be small spending like dinning at a restaurant or buying a costly item. It will ensure that the card is active.
What about payment for a statement period by the due date?
If the minimum payment for a statement period by the due date is not paid, the issuer will not contribute any further credit to your account. This means, the card will be suspended and will not be reinstated until you satisfy necessary requirements imposed in regard with reinstating the account. The account can also be canceled if the bank considers it necessary to prevent fraud or any possible loss on you in future.
Hence, never delay or default payment if you want to avoid suspension of your cash card.
Have you provided bank proper contacts?
Pivotal information such as home address, income proof, bank statement and employment certificate should be original and accurate. One of the reasons behind suspension associates with why cardholders have not updated their information to the bank. Hence, avoid suspension by providing accurate and original credentials. If need be, personally inform the bank about any change you may have made in your contact details like domicile address, phone numbers or employment.
Has your credit history been badly influenced?
Never allow your credit history get worsened if you want to avoid the suspension of plastic money. Credit history could be worsened because of late payment. Banks usually have very strict rules against late payment. For example, it can invite higher interest rate thereby making the total dues cumbersome. Moreover, the bank can consider suspending your account once for all. Understandably, you should be wary on maintaining a good credit standard to avoid getting your cash card canceled.
There are several reasons behind credit card suspension. It could relate to your non payment of credit card bills before due date or wrong contacts information shared with bank. The article highlights four ways to help you avoid getting your credit card canceled.
Do you want to avoid the suspension?
Here are four ways that would help you avoid getting your plastic money suspended or canceled.
Has your credit card been canceled due to inactivity?
If you have not used your cash credit for months, do not get astonished when you get an email notification of your account suspension. Some issuers notify this in advance, but in most cases you realize this only after knowing the fact.
To tackle this issue, you should firstly avoid any possible suspension because of inactivity. Secondly, set up a small recurring payment such as online bill, gym membership, and activate “Auto Payment” to ensure constant payment every month.
Another option is to use your card at least once in every month. It could be small spending like dinning at a restaurant or buying a costly item. It will ensure that the card is active.
What about payment for a statement period by the due date?
If the minimum payment for a statement period by the due date is not paid, the issuer will not contribute any further credit to your account. This means, the card will be suspended and will not be reinstated until you satisfy necessary requirements imposed in regard with reinstating the account. The account can also be canceled if the bank considers it necessary to prevent fraud or any possible loss on you in future.
Hence, never delay or default payment if you want to avoid suspension of your cash card.
Have you provided bank proper contacts?
Pivotal information such as home address, income proof, bank statement and employment certificate should be original and accurate. One of the reasons behind suspension associates with why cardholders have not updated their information to the bank. Hence, avoid suspension by providing accurate and original credentials. If need be, personally inform the bank about any change you may have made in your contact details like domicile address, phone numbers or employment.
Has your credit history been badly influenced?
Never allow your credit history get worsened if you want to avoid the suspension of plastic money. Credit history could be worsened because of late payment. Banks usually have very strict rules against late payment. For example, it can invite higher interest rate thereby making the total dues cumbersome. Moreover, the bank can consider suspending your account once for all. Understandably, you should be wary on maintaining a good credit standard to avoid getting your cash card canceled.
There are several reasons behind credit card suspension. It could relate to your non payment of credit card bills before due date or wrong contacts information shared with bank. The article highlights four ways to help you avoid getting your credit card canceled.
In : Credit Card
Tags: credit card
