Banks can CANCEL your credit card if you do THIS

The cancellation of credit cards by banks has been common in recent months. On social media, it is common to find reports of people who had their service permanently suspended by institutions, especially those focused on digital, such as Nubank, Inter, Credicard and C6 Bank.

This fact has been more common than one might imagine, especially when the tool does not charge an annual fee. Bank customers who have had their credit card canceled or have been notified about the suspension of service often wonder why this happened. Discover the main reason below!

Canceled credit card? Understand why

A customer who requested or received a credit card from financial institutions, but had the service abruptly canceled can attribute the interruption to several factors.

The most common is due to lack of inactivity on the account for a period of more than 12 months, a situation that triggers automatic cancellation of the card. In other words, the most common reason for canceling a card is when the customer does not use financial services.

In general, banks have operational limits, which may vary depending on the size of the card issuing institution. When the customer requests a limit, but does not use it, he prevents another interested person from obtaining the balance and consequently generating profits for the company.

But does not stop there…

In addition to the reason for account inactivity and card use, there are other factors that can lead to the cancellation of a credit card. Are they:

• People with negative status in the Individual Taxpayer Registry (CPF);
• People with pending documentation after the deadline defined by the institution;
• People who have the wrong documentation (incomplete or with fraudulent data);
• People who are not complying with the rules set out in the terms of use.

What to do if the card is cancelled?

In principle, the customer who has had their credit card canceled must contact the card administrator company to understand the reason for the cancellation. Depending on the case, it is possible to request reactivation or have to request a new one.

If the second option is the only one available, the customer must fill out a new proposal again, to be submitted for analysis by the institution, which may increase or decrease the previous limit, as well as deny approval of the service.

The post Banks can CANCEL your credit card if you do THIS appeared first in Edital Concursos Brasil.