Have you lost your axis my zone credit card? Don’t worry. We are here to help you protect yourself and your finances in case the card is lost or stolen. Before heading towards the process of dealing with the same, let’s go through the benefits you must enjoy with the MyZone Card.
Features and Benefits
- With Axis Bank MyZone Card, get a 100% discount on the 2nd movie ticket at Paytm Movies.
- Get a SonyLiv Premium annual subscription worth INR 999 on the first spend within the first 30 days of issuance of the card.
- Get a flat discount of INR 120 on food delivery at Swiggy.
- Enjoy 1 complimentary access at select airport lounges within India per calendar quarter.
- Get a shopping discount of up to INR 1000 at AJIO on a minimum spend of INR 2999.
- Get a waiver of 1% on fuel surcharge on all fuel transactions in India.
- Earn 4 Edge Reward points with every INR 200 spent on the credit card.
- Contact the bank to convert any big purchase made above INR 2500 into EMIs.
- Get a discount of 15% at all partner restaurants across India with Axis Bank Dining Delights.
- With the Axis Bank MyZone Lounge Access Credit Card, you can get one complimentary access per calendar quarter to select airport lounges in India when you spend INR 50,000 in the last three months.
Steps to be followed when your Credit Card is Lost or Stolen
- Contact Your Service Provider
The first step is to contact your service provider in case your credit card is lost or stolen. The contact number should be taken from the bank’s official website. They will guide you through cancelling the credit card and getting a new one issued.
- File a FIR
It is important to file a police report to ensure your utmost security and protect yourself from potential fraud or identity theft.
- Check Your Credit Card Statement
Once you have reported your card as lost or stolen, it becomes quite important to closely monitor the credit card statement to ensure that there have been no fraudulent transactions made via your bank account.
- Place a Fraud Alert
In case you think you are at risk of identity theft, a fraud alert on the credit report. Lenders can get alerted to suspicious activity, which makes it more difficult for someone to open a new bank account in your name.
- Contact the Credit Bureaus
If suspicious activity is traced on the credit report, contact the credit bureaus to inform them. They can then help resolve any issues and restore the credit.
- Update Automatic Payments
Update your payment information in case automated payment modes have been set up.
Steps to Permanently Cancel Credit Cards
Mentioned below is the guide to closing your credit card account in a hassle-free manner:
- Evaluate Financial Needs
Assess your overall financial situation before closing your credit card. This means finding the reason for cancelling the credit card should be clear, such as whether it is due to high fees, interest rates, or a change in your spending pattern.
- Redeem Rewards and Benefits
Make sure to get the accumulated reward points redeemed before deactivating the credit card, as the unredeemed reward points will be forfeited upon closure.
- Settle Outstanding Dues
To close a credit card account, you first need to clear the dues. Otherwise, make sure that you repay the outstanding balance in full before starting the process. The dues can also be settled online.
- Contact Customer Support
Connect with the customer support team to initiate the credit card account closure.
- Send a Formal Request for Closure
Draft a Credit Card account closure letter that includes details like your name, address, and the last four digits of your card number.
- Obtain Confirmation for Closure
Get a written confirmation of the credit card account shutdown, as this document is essential for financial records.
- Dispose of Your Card
Once the termination request is confirmed, physically destroy the card to prevent any fraudulent use.
- Monitor Credit Card Changes
Monitor your credit score following the closure of your credit card to understand how the closure of your card affects your financial health.
Some Common Reasons to Cancel a Credit Card
Mentioned below are some key reasons why people choose to deactivate their credit cards:
- High Fees or Interest Rates
If the fees or interest charges are high, deactivating the credit card can be a financially sound decision.
- Simplifying Financial Management
Personal finances can be streamlined when the number of cards is reduced, leading to the deactivation of less-used cards.
- Curbing Overspending
Deactivating credit cards can be a proactive step to avoid debt and better manage funds.
- Changing Spending Habits
Cards become redundant when there is a change in your lifestyle or financial situation.
- Seeking Better Rewards
Cardholders can get their cards changed when they are offered a card with a better reward or lower rates, making older cards less efficient.
- Security and Fraud Concerns
Deactivating cards to safeguard financial information in response to security breaches or fraud.
- Credit Score Optimization
Some cardholders get their card deactivated to maintain their credit scores.
- Non Usage
To manage finances, like to deactivate those unused cards, especially those with high annual fees.
- Financial Upgradation
Deactivating an older card, with the improvement in financial status, makes some older cards unnecessary.
- Consolidating Debt
Due to debt consolidation efforts to prevent the accumulation of additional debt by deactivating the card.
Ways to Get the Axis MyZOne Credit Card Closed
- Online Mode
- Visit the Axis Bank Web Chat page on the Axis Bank website.
- Provide your registered mobile number and e-mail ID, and click “Start Chatting”.
- The bank representative will contact you.
- Specify that you want to get your credit card closed.
- Follow the steps as specified by the agent.
- Offline Mode
- By Calling Customer Care
- Call 1860 419 5555, 1800 103 5577 or 1860 500 5555 from your registered mobile number.
- Request for credit card closure to the bank representative.
- Once the verification is completed, the agent will proceed with closing the credit card.
- By Visiting the Bank
- Visit the nearest Axis Bank Branch along with your ID Proof documents.
- Consult a bank agent and specify him/ her about your intention to get the credit card closed.
- Place your request for closure and mention the reason behind it.