Can banks deny re-issue of CC after expiry ?

[NOOBY]

Do banks deny (or do not process) re-issue of credit cards when it is close to expiry ?

Asking this as it happened with my dad 1 month back... He was holding SBI CC and ICICI CC since 4 years (both were pre-approved and were delivered in consecutive months) but he primarily used SBI and kept ICICI as a backup to the point that in its 4 year time, the card was hardly used 2-3 times..

So, when the expiry was near and he asked ICICI customer care to re-issue the same, the bank kept says things like "yes, its automated and will happen" and "we can't raise such requests manually" and in the end, the card expired and the new one never came. I know its his fault too that he never used the card but never heard anything like this happening with anyone as the CC was linked to his ICICI Wealth Management account too.

So, these 2 questions popped in my head and was wondering if:
1. Can banks close non-performing relationships. Logically they can but this was the first time I heard banks not re-issuing CC. The other bank I know (now) is HDFC which loses CC if not used in 6 months.

2. What does Lifetime free actually mean? Does that mean annual charges are waived off for the first card until expiry or until I do not close the CC relationship with the bank i.e. no charges for 30-40+ years?

I know both questions seems silly but Just wanted to know everyone's thoughts about these

 

[ankushanup1]

acc to recent rbi guidelines any credit card which hasn't been used in past year would be automatically closed.... so hope you got your answer

if not the case contact cc for issue

 

[helloworld]

Did you checked imobile or icici netbanking for new expiry and CVV (do check once, if not already)?

1. Check this.. https://www.technofino.in/community/threads/how-to-keep-old-credit-cards-active.1962/post-40512

2. As long as that specific card is active, lifetime fee waiver attached to it. It will be like that for 30-40+ years (always keep LTF confirmation, for any issues later).

But,

- Bank can discontinue your LTF card (Ex. Diners Club Miles), in place of that new card whatever they're offering (Ex. Diners Privilege) may not be necessarily LTF.
- Upgrades may not be necessarily LTF.
- Switching card network may not be necessarily LTF (so far it didn't happened but no guarantee).

 

[NOOBY]

acc to recent rbi guidelines any credit card which hasn't been used in past year would be automatically closed.... so hope you got your answer

if not the case contact cc for issue

Yeah, but I think this was quite recent (I may be wrong). Afaik, the card was active for 4 years and we were receiving CC statements everymonth (Rs.0)

It logical to see this happening but never heard of it..

Did you checked imobile or icici netbanking for new expiry and CVV (do check once, if not already)?

1. Check this.. https://www.technofino.in/community/threads/how-to-keep-old-credit-cards-active.1962/post-40512

2. As long as that specific variant card active, lifetime fee waiver attached to it. It will be like that for 30-40+ years (always keep LTF confirmation, for any issues later)

But,

- Bank can discontinue your LTF card, new card they're offering may not be necessarily LTF.
- Upgrades may not be LTF.
- Switching card network may not be necessarily LTF (so far it didn't happened but no guarantee).

Already checked, no CC in netbanking now which is why I said never got new one. If CC details were there, we would have gone to Bank and would have requested card delivery.

> Bank can discontinue your LTF card, new card they're offering may not be necessarily LTF.

Hmm, this is something new to me... So lifetime means the life of first card and not the cc relationship time (not necessarily). After expiry they may ask to pay for the re-issued card (even if same variant and limit etc etc) ?

> Upgrades may not be LTF.
> Switching card network may not be necessarily LTF (so far it didn't happened but no guarantee).

These 2 I understand and can relate too, but the first point was somewhat disappointing (and scary)

 

[NOOBY]

@TechnoFino have you heard of an LTF CC relationship getting converted into a paid one after re-issuing (initial card expired) ?

Example: You have HDFC DCB LTF which is going to expire on 12/22, when you request for re-issue of new DCB card, they say it would be a paid one and will have to pay annual fees if milestones are not met.

As you keep analyzing such trends, you might have come across such scenario or might have heard (I believe)

 

[TheTrickySid]

Do banks deny (or do not process) re-issue of credit cards when it is close to expiry ?

Asking this as it happened with my dad 1 month back... He was holding SBI CC and ICICI CC since 4 years (both were pre-approved and were delivered in consecutive months) but he primarily used SBI and kept ICICI as a backup to the point that in its 4 year time, the card was hardly used 2-3 times..

So, when the expiry was near and he asked ICICI customer care to re-issue the same, the bank kept says things like "yes, its automated and will happen" and "we can't raise such requests manually" and in the end, the card expired and the new one never came. I know its his fault too that he never used the card but never heard anything like this happening with anyone as the CC was linked to his ICICI Wealth Management account too.

So, these 2 questions popped in my head and was wondering if:
1. Can banks close non-performing relationships. Logically they can but this was the first time I heard banks not re-issuing CC. The other bank I know (now) is HDFC which loses CC if not used in 6 months.

2. What does Lifetime free actually mean? Does that mean annual charges are waived off for the first card until expiry or until I do not close the CC relationship with the bank i.e. no charges for 30-40+ years?

I know both questions seems silly but Just wanted to know everyone's thoughts about these

@TechnoFino @Subhankar @fatehbajwa @souvikdey2002 @Bigde @Abhishek012 @AllSeeker

 

[metal_heart]

I have an ICICI Credit Card (LTF), which has been renewed twice. It is hardly used (may b 1-2 times a year). Never faced such issue.
It's again to be renewed in Jan 23. Hopefully, it get's renewed seamlessly.

 

[CMG]

Do banks deny (or do not process) re-issue of credit cards when it is close to expiry ?

Asking this as it happened with my dad 1 month back... He was holding SBI CC and ICICI CC since 4 years (both were pre-approved and were delivered in consecutive months) but he primarily used SBI and kept ICICI as a backup to the point that in its 4 year time, the card was hardly used 2-3 times..

So, when the expiry was near and he asked ICICI customer care to re-issue the same, the bank kept says things like "yes, its automated and will happen" and "we can't raise such requests manually" and in the end, the card expired and the new one never came. I know its his fault too that he never used the card but never heard anything like this happening with anyone as the CC was linked to his ICICI Wealth Management account too.

So, these 2 questions popped in my head and was wondering if:
1. Can banks close non-performing relationships. Logically they can but this was the first time I heard banks not re-issuing CC. The other bank I know (now) is HDFC which loses CC if not used in 6 months.

2. What does Lifetime free actually mean? Does that mean annual charges are waived off for the first card until expiry or until I do not close the CC relationship with the bank i.e. no charges for 30-40+ years?

I know both questions seems silly but Just wanted to know everyone's thoughts about these

There is an option in icici netbanking to raise the exact issue. Raise it, if you haven't.

 

[NOOBY]

@TechnoFino @Subhankar @fatehbajwa @souvikdey2002 @Bigde @Abhishek012 @AllSeeker

Thanks for tagging everyone, it only help in getting more information

I have an ICICI Credit Card (LTF), which has been renewed twice. It is hardly used (may b 1-2 times a year). Never faced such issue.
It's again to be renewed in Jan 23. Hopefully, it get's renewed seamlessly.

Nice to know a positive review regarding this, I will need to check which CC my dad owned as it happened 4 year back and never even saw the card being used

Which card if I may ask ?

There is an option in icici netbanking to raise the exact issue. Raise it, if you haven't.

We knew about this, but we went to bank first, they said they wont be able to issue replacement now as the card is expired and so the relationship is closed. Now if we want to get ICICI CC again, we need to apply for a new one but the limit would be decided by the bank.

So, he went with SBI Prime + HDFC combo

 

[Bigde]

@TechnoFino @Subhankar @fatehbajwa @souvikdey2002 @Bigde @Abhishek012 @AllSeeker

I am hearing this for the first time, never faced such issues with my LTF cards. I will let experts share their opinion on this matter.

 

[CMG]

Thanks for tagging everyone, it only help in getting more information


Nice to know a positive review regarding this, I will need to check which CC my dad owned as it happened 4 year back and never even saw the card being used

Which card if I may ask ?


We knew about this, but we went to bank first, they said they wont be able to issue replacement now as the card is expired and so the relationship is closed. Now if we want to get ICICI CC again, we need to apply for a new one but the limit would be decided by the bank.

So, he went with SBI Prime + HDFC combo

my icici plat card expired in 2020. A new card was send to the wrong address and the card got blocked and it got removed from my account. In cibil, report it was still open. 2 months back, i went to the branch, updated my address and then asked customer care to reissue the card.

 

[ltf4ever]

acc to recent rbi guidelines any credit card which hasn't been used in past year would be automatically closed.... so hope you got your answer

if not the case contact cc for issue

in this case, will the bank have to give a 1 month prior notice, or can they suddenly close the card?

 

[TheTrickySid]

in this case, will the bank have to give a 1 month prior notice, or can they suddenly close the card?

Yes notice will be given

 

[NOOBY]

2. As long as that specific card is active, lifetime fee waiver attached to it. It will be like that for 30-40+ years (always keep LTF confirmation, for any issues later).

This seems to be in-line with my understanding then.

I understand that if the card variant itself is discontinued, then they can not re-issue the same and alternative options (if any) can be made chargeable according to the relationship we have with the bank.

I am hearing this for the first time, never faced such issues with my LTF cards. I will let experts share their opinion on this matter.

Yup... Now I wonder if the card was LTF or was without any joining/annual fees (like current platinum one)
but in both scenarios, they could have re-issued the card if the variant was still active.

So, the particular LTF card you're holding is 'discontinued/no longer issued' during renewal they'll offer you another card to replace that. This scenario may or maynot be LTF (usually banks value your relationship but since we're discussing scenarios of when LTF card no longer LTF?).

BtW, try these SMS banking options

SMS Alerts, SMS Request, Mobile Alerts for Banking Transactions

Now stay connected with your ICICI Bank Account through our SMS Alert and Request Facility. With this service, you will receive an SMS on your registered mobile number informing you about your latest banking transactions like credit or debit, cheque return etc in your savings account.

www.icicibank.com

If you're getting some response that means that card is active and lying somewhere.

Will check the those, thanks for the suggestion... Netbanking doesnt show any CC linked to the account now though

in this case, will the bank have to give a 1 month prior notice, or can they suddenly close the card?

As HyperBeast said, they will send you sms and mail, but even if you dont get those.. they might blame on 3rd party systems (sms/mail) but close the card anyway

 

[adi]

@TechnoFino have you heard of an LTF CC relationship getting converted into a paid one after re-issuing (initial card expired) ?

Example: You have HDFC DCB LTF which is going to expire on 12/22, when you request for re-issue of new DCB card, they say it would be a paid one and will have to pay annual fees if milestones are not met.

As you keep analyzing such trends, you might have come across such scenario or might have heard (I believe)

just say my card is lost and send me another card.
most probably it will work😂😜

 

[NOOBY]

just say my card is lost and send me another card.
most probably it will work😂😜

Kindly go through the comments if possible.. I have mentioned somewhere that we visited branch and they said after expiry, they closed the relationship


My dad told me that they were offering Sapphiro and after some time, they started discussing with their senior mgmt for some premium card too (he cant remember the name but could be Emaralde) as he had 15L limit but he denied everything as the bank closed the relationship without providing any info and re-issuing a different card.

 

[adi]

Kindly go through the comments if possible.. I have mentioned somewhere that we visited branch and they said after expiry, they closed the relationship


My dad told me that they were offering Sapphiro and after some time, they started discussing with their senior mgmt for some premium card too (he cant remember the name but could be Emaralde) as he had 15L limit but he denied everything as the bank closed the relationship without providing any info and re-issuing a different card.

I was replying to someone else.
tagged you by mistake.

 

[Wealth is my birth right!]

Yes being a lender it is bank’s own policy and solely their decision to renew our card or not

 

[Nemesis]

Tell them you will reach out to RBI... since your CIBIL is affected

 

[NOOBY]

Yes being a lender it is bank’s own policy and solely their decision to renew our card or not

Definitely yes, but this usually happens when you are a defaulter.... not when everything is fine (the 2-3 payments too were on time) which is why we were amazed...

Tell them you will reach out to RBI... since your CIBIL is affected

haven't checked CIBIL score (as he doesn't care about it now that he is 5 years away from retirement) but will have a talk with RM if we visit bank for anything... need to get more details as there might be case that the variant which he was holding was discontinued and they wanted to us to apply for a new one instead of upgrading