Customers having multiple credit cards will now not be allowed the luxury of using either in case they default on making payments for even one, thanks to stringent measures being adopted by the banks.
As per the prevalent practice, banks are blocking only that card on which there is a payment default and the other cards held by the customer are not touched.
However, the banks have now revised their credit card terms and conditions, pursuant to which all the cards would be blocked if there is a payment default on even one. READ MORE….
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