Getting Cold Feet With Your New Credit Card
sir i got pre approved above said credit card, verofication is in approved stage it just in handling and dispatch process.i am little bit worried seeing the review of rbl its very very negative,and it is my first time i will be using credit card.what can i do to stop the process if i dont want it ,what if i dont accept courier will my credit will still active or cancel off .i contacted bank but they are saying me to enter credit card number and idont have it right as i didnt got it.what should i do help me out.is rbl a good bank are its credit card good afraid of poor service quality and poor customer care team..please help me with necessary step.thanks in advance.
No Worries, You Have Options
Great question, thank you for the email. Yes, many people have had bad experiences with the RBL Card and leave bad reviews, but it’s also important to acknowledge many people apply for credit cards without fully reading the terms or fees involved, and then they become blindsided at some point. While some card practices may seem unfair or predatory – and in some cases may be – it’s always important to read the fine print before applying for a card so you understand everything. Many people who do not read leave retaliatory negative feedback against the bank, which is not always warranted.
However, to your question: Unfortunately it’s too late to completely cancel the card and pretend like it never happened. The bank pulled your CIBIL report, so you will have a hard inquiry on your account. Now the card is on the way and the account is open in your name whether you accept the card from the courier or not. The card might not be “activated” until you receive it, but your account exists.
You have some options here. If the card does not have an annual fee – and you think you would be able to get approved for a different card, then keep this card and simply do not use it. Having the account adds to your available total credit line reported to CIBIL. The more credit line you have in relation to how much you are using, the better your CIBIL can become. This is called the debt to credit ratio.
If the card does have an annual fee, then your best option is to just keep it for a year and do not use it. Then make sure you cancel it before the fee is charged. In many cases, the first year is free so you have some months with this card on your CIBIL report with a credit line.
In the meantime, look for a new card that suits your lifestyle and spending habits, and of course stay close to CreditSmart for frequent reviews.
Best of Luck,
CreditSmart Staff CreditSmart
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