You've probably heard reports from close people informing you that there are banks canceling credit cards, especially in the last few months, or maybe you've suffered from it yourself. The fact is that banks like Inter, Nubank, C6 Bank and Credicard suspended the service of some customers unexpectedly, but we will explain below why this happened.
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Cancellation of credit cards by famous companies
One of the biggest problems faced by fintechs is related to issuing credit cards after customer request which, if you do not use the service after receiving it, may end up with the approval cancelled.
In general, credit cards with no annual fee are the ones that suffer the most from this. In addition, several institutions, when verifying inactivity in the account for a period exceeding 12 months, choose to activate the automatic cancellation of the card. So, basically, the main reason for canceling a credit card is its unusability.
Banks have operational limits that vary according to the size of the issuing institution. In this way, when a customer requests a limit, but does not use it, it prevents another potential customer from being served by the company and generating profits for it.
Other reasons that can lead to the cancellation of a credit card
- In the case of wrong documentation (incomplete or with falsified data);
- In case of non-compliance with the rules established in the terms of use;
- Absence of transactions such as deposits, withdrawals and transfers, as they indicate account inactivity;
- In case of denial of the Individual Taxpayer Registration (CPF);
- Documentation pending after the deadline established by the institution.
Another important justification for cancellation is the case of suspicious movements in the account, such as fraud, for example. However, in this case the cancellation does not occur instantly. Initially, the bank contacts the holder in order to remedy the situation.
What to do if your card is cancelled?
What you can do is, first of all, contact the managing company to understand the reason for the cancellation. After that, you can request reactivation or order a new card.
It is important to know that there are some cases in which it is necessary to fill out a new proposal, that is, you will undergo a new credit analysis by the financial institution, which may authorize the issuance of the new card or no.