Credit Card Update: Credit cards are often considered beneficial for borrowing and clearing the balance in a short period of time. However, if the card is not used for a long time, the card may be closed by the bank. As a result of which the customer loses even the good credit amount deposited. In such a situation, keeping your credit card stable from time to time can save your credit card from closure.

Often the bank’s guidelines for credit card holders are that there should not be any activity between three to 12 months. It is necessary for the credit card holder to inform the bank about the closure of the card within thirty days and so that he can get the information about the resumption of his card.

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What will happen if you do not use credit card for a long time?

Adhil Shetty, CEO, Bankbazaar, said, if the customer has not used the credit card under any circumstances within 12 months, it is important for the bank to have this information before taking any action.

According to the guidelines of RBI, if there is no financial transaction of any kind through the credit card in a year, then such things as statement generation, change of PIN, change in transaction and control of transaction are included. Even the card will not be noticed and which will have a direct impact on the credit score.

Important information regarding credit card

Not using credit card for a long time can be a risk. Shetty said, its impact can be in different ways. It depends on the previous transactions of the customer. Also, looking at the data, the percentage limit decides the usage of the card in a month.

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