Check out why banks are canceling credit cards

Banks such as Nubank, Inter, Credicard and C6 Bank suspended the credit card of some customers unexpectedly and without prior notice

Estimated reading time: 3 minutes

In recent months, several reports of banks canceling credit cards have been appearing on websites. In this way, banks such as Nubank, Inter, Credicard and C6 Bank suspended the service of some customers unexpectedly and without prior notice. Check below the reasons that lead to the suspension of some cards.

Credit card cancellation

If the customer requests the credit card and the financial institution issues it, but upon receipt he does not use the service, the approval may be cancelled.

This usually occurs more often with no-annual-fee credit cards. In addition, several institutions, when verifying account inactivity for a period longer than 12 months, trigger the automatic cancellation of the card. Therefore, the main reason for canceling a credit card is when the customer does not use financial services.

In summary, banks have operational limits that vary according to the size of the issuing institution. Thus, when the user requests a limit, but does not use it, he makes it impossible for another client to be approved by the company and to make profits for it.

Other reasons

There are also other reasons that lead the financial institution to cancel a credit card, they are:

  • Wrong documentation (incomplete or with falsified data);
  • Failure to comply with the rules determined in the terms of use;
  • Denial of Individual Taxpayer Registration (CPF);
  • Documentation pending after the deadline defined by the institution.

What to do if my card is cancelled?

In principle, the customer must contact the card company to understand the reason for the cancellation. Then, you need to request reactivation or request a new card.

However, in some cases it is necessary to fill in a new proposal. Therefore, the financial institution will carry out a new credit analysis, and may or may not authorize the issuance of the new card.

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Image: Suradech Prapairat / Shutterstock.com

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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