SBI Credit Card Auto-Debit option is a convenient payment method that allows you to automate the payment of your SBI credit card bills. With this option, the credit card bill amount is automatically deducted from your bank account on the due date of the bill.
This feature ensures timely payments of your credit card bills and saves you the hassle of remembering the due date every month. While auto-debit is a useful feature, there are also some disadvantages associated with it.
Disadvantages of Auto-Debit Option in Credit Card
#1. Responsibility to Maintain Account Balance
With auto-debit payments, it’s important to ensure that there are sufficient funds in your savings or current account to cover the credit card bill.
If the account balance is insufficient, the auto-debit may fail and result in missed payments, which can lead to heavy interest charges, late fees, and damage your credit score.
#2. Interest charges
If the auto-debit payment is set up for the minimum payment amount, the credit card user may end up paying a lot more in interest charges over time.
This is because the minimum payment amount may not be enough to cover the entire balance, and interest charges will continue to accrue on the remaining balance.
#3. Lack of control
Auto-debit payments take away the user’s control over the payment process. They may not be aware of the payment amount, frequency, or due date, which can lead to confusion and overspending.
How to Deactivate Auto-Debit option in SBI Credit Card
To deactivate the Auto-Debit payment method on your SBI credit card, follow these simple steps:
Step #2. Fill in the required details in the form, such as your Name, Card Number, and Bank account number.
Step #3. Sign the letter.
Step #4. Mail the signed letter to the following address:
SBI Cards and Payment Services Ltd. P.O. Bag No.28, GPO, New Delhi – 110001
Once you have mailed the signed letter, the Auto Debit option will be deactivated within a few working days. You can now make the SBI credit card payments manually.
The Auto Payment option is undoubtedly a useful feature for credit card bill payments, especially for individuals who hold multiple credit cards or frequently forget the due dates.
However, by manually paying credit card bills, you can easily track your payments, avoid any potential errors, and make adjustments as needed. You can also change your billing cycle date once in a lifetime.
Ultimately, the decision to use auto payment or manual payments depends on individual preferences and financial habits.
If you have any questions or doubts about the deactivation process of auto-debit facility in SBI credit card or anything related to SBI credit card like how to close SBI credit card, SBI customer care numbers or SBI reward points, let me know in the comment section.