December 8, 2022
The bank can cancel the credit card for non-use

The bank can cancel the credit card for non-use

Many people do not understand why their credit card was suddenly canceled. Check why this happens and how to avoid it.

Many people don’t understand why you exist Card credit Suddenly canceled. So we’ve broken down a few tips so you won’t be surprised. Since not using a credit card may reduce the limit or even cancel your account.

This happens because the file banks They operate with operating limits and can only extend credit up to a certain point, which varies according to several factors. By not using a credit card, the consumer is preventing the bank from offering a card or limit to another person in need.

Including, an inactive credit card can also cause harm to the financial institution. It is important to point out that after a few months of not using the The card will be cancelleds. Therefore, it is necessary to plan financially, since there is no point in having many credit cardsbut don’t use it.

How do you avoid credit card cancellation?

It is worth noting that the financial institution cannot cancel your card without prior notice. You are banks Normally a message or email will be sent to let you know the cancellation and what is justified for this action.

In general, organizations usually cancel a credit card after the user has not used it for 6 months. Other banks have a term of up to 12 months. Check some below Tips To prevent card cancellation:

  • credit card usage per month;
  • It is indicated to use a good portion of the reduction, so that it is not reduced;
  • Most importantly, don’t go more than 6 months without making purchases on the card.

Other reasons could cancel your card

First, it is important to remember that canceling and blocking are two different things. In case of cancellation, the card becomes permanently invalid and cannot be used any more. Now, when there is a block, the card is temporarily unavailable, and it can be unlocked and used again.

Cancellation may occur for reasons other than inactivity, see options:

  • frauds
  • CPF is irregular
  • parked card
  • CPF is associated with credit protection agencies;
  • Frequent delay in bill payment;
  • use the Card for illegal activities;
  • invoice paid for the minimum amount later;
  • Commercial lack of interest.

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