Bajaj Finserv card is a highly preferred shopping option as it offers ample benefits to shoppers. From 100% purchase finance, shopping with minimal paperwork, zero or minimal down payment and processing fee to custom pre-approved offers designed for your benefit the card truly empowers the new-age shopper.
Strengthened digital channels offer easy and quick management of the card online via its customer portal, Experia. It lets you access loan details, make EMI payments or foreclose the loan, view and update contact details on your card, avail offers customized to suit your shopping preferences, view and download scanned documents via the digital vault, raise queries/ grievances, view the lenders response and much more.
However, due to silly negligence on your part you may get your card blocked. If you are not sure of the reason you may always call up Bajaj Finserv’s customer care and discuss the same.
For now, here’s sharing few reasons to avoid getting your card blocked.
Failed ECS Mandate
ECS or Electronic Clearing System is the process of transferring funds from one account to another. It is great for making periodic transactions such as EMIs towards the loan, other monthly dues etc.
In case, of a failed ECS mandate the only underlying reason is a cheque bounce due to insufficient funds. Where possibilities of other reasons cannot exist. In the event of cheque bounces of more than three times financial institution will withdraw your ECS facility.
Another reason could be if your bank fails to update ECS mandate to Bajaj Finserv. In this case the due EMIs would not be submitted on time and may lead to blocking of your Bajaj Finserv EMI Card.
In case, you failed to make a timely EMI payment or when the payment was made late it could lead to your card being blocked. Continuous repayments ensure that the lender trusts your repayment capacity and continue to offer benefits as per your shopping history. It is imperative to keep up with the payments so you can enjoy using your card for a long time.
Low CIBIL score
Failure to keep up with the repayments will eventually lead to your CIBIL score getting affected negatively. Ideally, lenders look for candidates with healthy score of 750+ or more. As this is a measure of your creditworthiness it informs the lender that you will responsibly pay off your dues on time without defaults. Lenders usually check this score once in every three months to track your payment history.
However, in case your CIBIL score is low you may improve it by simply paying up the missed payments. Re-build a reliable repayment plan and start paying up the part-prepayments. Though, by small amount these will gradually leave a positive impact on your credit score.
How to Unblock Bajaj Finserv Card?
Reactivating your Bajaj Finserv card will allow you to resume shopping on no cost EMIs and avail preapproved offers floated from time to time. The process for re-activating the card is pretty simple too.
● Check the validity and other details of your card. This can be done via the Experia portal using your login id and password.
● Call 020-3957-5152 to check for card details and to re-activate your card.
● You can mark an email to [email protected] to get your card reactivated.
● You can send in your query quickly via a user-friendly SMS service.
● You may talk to the Bajaj Finserv Customer Care representative and follow their instructions to re-activate your card.
Once the card is reactivated you will receive a new username and password for your Experia portal. Or, you can send a text message to Experia at +91 92275 64444 to receive your new username and password.
You can even request for a replacement card when your EMI card gets lost, damaged or stolen. In such cases, you can always ring up the customer service number to immediately block your lost card and ask for a replacement.