Does LTF credit cards have any condition for Mandatory usage atleast Once in a Year ?

[vrp.vijayot]

HI TF Community,

Wish to know if there are any specific Mandatory Usage for all LTF card (any bank) atleast once a year(like once atleast in 365days) ?

or Any specific conditions for swiping, to stop LTF cards getting Deactivated or closed etc ?

Kindly share your valuable thoughts.

Thanks !

 

[tharun]

You will have to use your credit card atleast once a year not just LTF but any credit card or it it grounds your credit card company to just close the account with rbi rules.

 

[pikashinchu]

You will have to use your credit card atleast once a year not just LTF but any credit card or it it grounds your credit card company to just close the account with rbi rules.

I also didn't know this, Thanks for letting this know.

 

[cardio_guycardio_guy is verified member.]

I think there is nothing mandatory as such, but card companies and banks do time to time cheks and take necessary measures.
Sometimes they will send you SMS requesting you to use it, sometimes they reduce the credit limit, sometimes they close/bolck/deactivate it.
If you are not using, better turn off all transactions through the app. Very rarely banks close the entire card, but that is also possible/doable.

 

[vrp.vijayot]

You will have to use your credit card atleast once a year not just LTF but any credit card or it it grounds your credit card company to just close the account with rbi rules.

Noted!! Thanks for your response.

 

[vrp.vijayot]

I think there is nothing mandatory as such, but card companies and banks do time to time cheks and take necessary measures.
Sometimes they will send you SMS requesting you to use it, sometimes they reduce the credit limit, sometimes they close/bolck/deactivate it.
If you are not using, better turn off all transactions through the app. Very rarely banks close the entire card, but that is also possible/doable.

Good to know this information. Thanks for letting me know

 

[sunit123]

If you are not using the even once in a year then it is better to CLOSE the card.

 

[MOhit __]

Do add on cards deactivate after a year if they are not used?

 

[vrp.vijayot]

If you are not using the even once in a year then it is better to CLOSE the card.

Agreed. There are 3 to 4 cards which are LTF & used only for offers occasionally. Will not be using it often and incase they are not used or forgotten, wish to know what exactly will happen to them in those case. Just gaining knowledge on LTF cards usage and rules. thats all =)

thank you for the response !!


thanks !!

 

[vrp.vijayot]

Do add on cards deactivate after a year if they are not used?

+1

Good Question !!! I didnt think of this as well. This is how this forum helps me to gain knowledge on Cards.
Will wait for some experts here to shed some light on this as well.

thanks !

 

[real_name_hidden]

Do add on cards deactivate after a year if they are not used?

I got a mail from idfc to provide consent to keep the add on card active. Probably hadn't used add on for a year.