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In modern finance, Credit Cards have become crucial for managing expenses, making purchases and building a strong credit history. However, they are prone to various dangers, like wear, damage, loss or theft. In such cases, the need for re-issuance comes into the picture. Let's delve deeper into the world of Credit Card reissue, shedding light on various charges, the reissuing procedure and the necessary documentation.
Understanding Credit Card reissue charges
Credit Card reissue comes with certain charges, which can differ depending on the bank's reason for reissue. Common scenarios for re-issuance include card expiration, loss, damage, theft or a desire to upgrade to a better card variant. Here are some potential Credit Card reissue charges -
1. Replacement fee: Axis Bank poses a replacement fee for issuing a new card. This fee can range from nominal to significant amounts, depending on the bank's policies and the card's tier.
2. Delivery charges: If you need urgent replacement, expedited delivery options are available at an additional cost. This service ensures that you receive your new card swiftly, thus minimising inconvenience.
3. Upgrade charges: Opting to upgrade your card might incur additional charges.
4. International delivery charges: If you're travelling or residing abroad and need your card shipped internationally, additional delivery charges might apply.
5. Uncertainties: In some cases, such as multiple reissues within a short period or reissues due to certain types of damage, the bank might impose additional fees.
If you are an Axis Bank customer, it is advisable to reach out to Axis Bank's customer service to clarify the charges applicable to your specific situation.
How to reissue a Credit Card?
1. Contact: Inform Axis Bank as soon as you realise the need for a replacement.
2. Verification: The bank will verify your identity to prevent fraudulent requests for card reissue. This may include answering security questions or providing personal identification details.
3. Selecting card features: If you're choosing an upgraded card variant, this is the stage where you can discuss available options.
4. Confirming charges: Ensure you understand the additional charges, including replacement fees, expedited delivery costs, and any other applicable fees.
5. Waiting for delivery: Once the request is processed, wait for the new card to arrive. If you've chosen expedited delivery, you'll receive it within the specific timeframe.
6. Activating the new card: After receiving the new card, activate it as per the bank's instructions.
Documents required for Credit Card Reissue
1. Identification proof: This can be a government-issued photo ID, such as a passport, driver's license, or Aadhaar Card.
2. Proof of address: Recent utility bills, rental agreements, or bank statements can confirm your current address.
3. Previous card details: Providing details of your previous card, such as the card number or account number, helps in the verification process and ensures a smooth and seamless reissue.
4. Police report (if applicable): In case of card theft or loss, a police report might be important to support your claim and facilitate the reissuing process.
Also Read: 6 quick ways for Credit Card activation
Conclusion
Credit Card reissue is a major aspect of card ownership, providing a solution to various scenarios such as loss, theft, damage or the desire for an upgraded card. While it comes with associated charges, understanding the process and ensuring you have the necessary documentation can streamline the reissuing experience. Remember to stay aware regarding your card's security and promptly report any issues to Axis Bank to mitigate risks associated with unauthorised usage. You can apply for Axis Bank Credit Cards here and enjoy the benefits these cards offer.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
