Want to Close Your Credit Card? Easiest Way! || bekifaayati #shorts
RBI has recently amended rules regarding credit and debit cards, including those relating to closure of credit cards. The provisions relating to this have already come into effect from July 1.
W.r.t closure of Credit Cards RBI has clearly stated that : Any request for closure of a credit card shall be honored within 7 working days by the credit card-issuer, subject to payment of all dues by the cardholder.
Cardholders shall be provided an option to submit request for closure of credit card account through multiple channels such as helpline, dedicated e-mail-id, Interactive Voice Response (IVR), prominently visible link on the website, internet banking, mobile-app or any other mode.
Failure on the part of the card-issuers to complete the process of closure within 7 working days shall result in a penalty of Rs 500 per day of delay payable to the customer, till the closure of the account.
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