Credit Card

After using your existing credit card for a while, you may be looking for a new one that offers better rewards, offers a higher credit limit, or has other features like ATM withdrawal at no charge or a short-term loan. However, closing your existing credit card account and applying for a new one can impact your credit score to a great extent. Here’s how.

  • The credit history that you have associated with the existing card will be deleted, which may limit your ability to avail a new credit card, especially if you have a bad credit score when applying for a new one.
  • When you apply for a new credit card, the issuers may run a hard inquiry on your credit report, which further lowers your credit score.

Credit card fees and charges

When you upgrade a credit card, you may have to bear certain fees and charges like joining fees, annual maintenance fees, and renewal fees. Such fees add to your expenses. However, some issuers offer a waiver on annual and renewal fees if your annual spending meets a certain threshold. To avoid paying high charges on a credit card, do a cost-benefit analysis before applying for an upgraded credit card or look one that offers a waiver of fees.

Credit card limit

Typically, the issuer increases your credit limit when you upgrade your credit card. With a higher credit limit, you will be better equipped to meet your financial requirements without worries. Thus, it is beneficial to ask your issuer for a higher credit limit when applying for an upgraded credit card.

Now that you know the tips to upgrade credit cards, take a look at how to go about the process.

How to upgrade credit card?

You can do so easily in one of the following ways.

 

  • Visit your issuer’s nearest branch and request for a credit card upgrade
  • Contact your issuer’s customer care center and enquire about a credit card upgrade
  • Login to your net banking account and request for an upgrade under the relevant tab

If you don’t have a credit card and are looking to avail one, consider applying for the Bajaj Finserv RBL Bank SuperCard. With this card, you can enjoy a range of benefits as follows.

 

  • 50-days interest-free ATM cash withdrawal
  • 90-days interest-free emergency loan
  • Up to 20,000 reward points on joining and more on achieving milestones
  • Conversion of purchases into easy EMIs and the Pay with Points feature on the EMI Network
  • Discounts and cashback on movie tickets, shopping, fuel spends, dining and more
  • In-Hand’ security to control your credit and cash limit via the app

Once you get a SuperCard, you can upgrade the RBL credit card to enjoy special offers, discounts, and cashback by one of the following ways.

 

  • Visit your nearest branch and enquire if you are eligible
  • 90-days interest-free emergency loan
  • Contact the customer care on +91 22 6232 7777 or 1800 121 9050 to do the same
  • Login to your net banking account and request for upgrade under the ‘Service Request’ tab
  • Write to cardservices@rblbank.com

 

 

 

If you have a query regarding any kind of loan, please fill out this query form in order to get in touch with our customer service representatives.