Credit Card: Was Your Card Issued Without Your Consent? Here’s What to Do Now

G GOWTHAM
Receiving a credit card you never applied for can be alarming. Unfortunately, instances of unauthorized credit card issuance have been reported in India, often due to banks’ “credit card marketing campaigns”, errors, or even fraudulent activities. Acting quickly is crucial to protect your finances and credit score.

Why This Happens

Promotional Offers by Banks

Some banks issue credit cards proactively to existing customers with good banking history, assuming you might be interested.

Data Sharing or Pre-Approved Offers

Banks may use loan, savings account, or CIBIL data to send pre-approved credit cards.

Errors or Fraud

Occasionally, mistakes in customer data or identity theft can result in unauthorized credit card issuance.

Steps to Take Immediately

Do Not Activate the Card

If you haven’t applied for the card, do not sign, call, or activate it.

Contact the Bank

Inform the issuing bank immediately that the card was issued without your consent.

Request the card to be cancelled and no charges should be levied.

Check Your Credit Report

Verify whether the card is listed in your CIBIL, Experian, or CRIF report.

Dispute any unauthorized entries to avoid impact on your credit score.

File a Complaint if Needed

If the bank is unresponsive, file a complaint with the Banking Ombudsman or RBI.

Monitor Your Accounts

Keep an eye on your bank and credit card statements to catch any unauthorized transactions.

How to Protect Yourself

  • Regularly check your credit reports from all major bureaus.
  • Avoid sharing personal details unnecessarily, including phone numbers and email addresses.
  • Use two-factor authentication for all banking and financial accounts.
  • Be cautious about pre-approved offers; always verify with the bank before accepting.
Key Takeaway

Receiving a credit card without your consent can be stressful, but acting quickly can prevent financial loss and protect your credit score. Always verify, cancel, and monitor to stay safe.

 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

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