My credit cards after I become an NRI

[korin]

I want to know, what happens to my credit cards after I become an NRI?

Will it be renewed after it's expiry date? Or will the banks close the card?

PS: Out of all the cards I own, I have bank accounts only in HDFC, IDFC and PNB.
Apart from these, none of my credit cards are linked to any bank account.

Let me know if having a bank account affects anything. Or whether different banks have different policies on this.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I want to know, what happens to my credit cards after I become an NRI?

Will it be renewed after it's expiry date? Or will the banks close the card?

PS: Out of all the cards I own, I have bank accounts only in HDFC, IDFC and PNB.
Apart from these, none of my credit cards are linked to any bank account.

Let me know if having a bank account affects anything. Or whether different banks have different policies on this.

I don’t think anything will happen to your bank accounts or your credit cards , first of all how would the banks know that you have became a NRI.

 

[0b110]

I don’t think anything will happen to your bank accounts or your credit cards , first of all how would the banks know that you have became a NRI.

For banks you have savings acct with, you need to convert from resident to non resident accounts. That is mandatory. So some banks definitely will know.

Not sure what implications it has on existing credit cards.. I assume the cards stay with you and upon renewal new cards will be issued which you'll might not be able to activate and hence the relationship eventually ends.

Curious to know any real examples.

 

[0b110]

I want to know, what happens to my credit cards after I become an NRI?

Will it be renewed after it's expiry date? Or will the banks close the card?

PS: Out of all the cards I own, I have bank accounts only in HDFC, IDFC and PNB.
Apart from these, none of my credit cards are linked to any bank account.

Let me know if having a bank account affects anything. Or whether different banks have different policies on this.

I would suggest to check with bank relationship mgr. You will have to contact them to get your accounts converted to nro anyway. Better check this as well. Pls report here when you find out.

 

[xiddy]

You can get NRI version of credit cards from banks. But not all of the banks offer them. I recently discussed this with ICICI bank.

 

[anirban.choudhuryanirban.choudhury is verified member.]

Not sure
But many of my NRI friends and relatives , are still using their Indian credit cards.
Just maintaining banks MAB and paying annual charges
I am pretty sure some of them have even not converted their bank accounts to non resident

 

[SoN!c]

Will you have an address in India? If you have family still here (like parents), then change the addresses of all your credit cards to their address and then the issuers will automatically send the renewed card to that address. Activate the cards from wherever you are (you can call whomever has received the cards for the card details) and collect them the next time you are in India. Conversely, if the cards are needed urgently, the can be couriered to you as well by your family.

 

[SoN!c]

Not sure
But many of my NRI friends and relatives , are still using their Indian credit cards.
Just maintaining banks MAB and paying annual charges
I am pretty sure some of them have even not converted their bank accounts to non resident

For Bank accounts it is advisable to convert to NRO

 

[bengaltiger]

All accounts sooner or later have to be nro or nre account.

Credit card, all depends on bank.
Bank can issue new card or can re-issue new card. There are no issues.

All banks are not issuing cards to NRIs.

Some implications are there, example phone numbers. Most of the banks issuing cards need indian phone number.

 

[kochiro]

Sbi got international phone number option in card

 

[bengaltiger]

Sbi has this opinionbin their app if someone temporarily travelling abroad. I tried before doesn't work.

I doubt if SBI issuing card to nri customer.

My information is old and limited.

If they are issuing it's good to know.
Problem is SBI bank and card two different business with no links.

 

[iNokia]

For banks you have savings acct with, you need to convert from resident to non resident accounts. That is mandatory. So some banks definitely will know.

Not sure what implications it has on existing credit cards.. I assume the cards stay with you and upon renewal new cards will be issued which you'll might not be able to activate and hence the relationship eventually ends.

Curious to know any real examples.

Interesting. I did read something about nro/nre accounts. I was wondering what would happen to niyo sbm account if someone moved abroad. Niyo currently doesn't provide nro/nre account. So many new products in the market, gotta be careful.

 

[0b110]

Not sure
But many of my NRI friends and relatives , are still using their Indian credit cards.
Just maintaining banks MAB and paying annual charges
I am pretty sure some of them have even not converted their bank accounts to non resident

It is illegal to keep resident accounts as an NRI. With all systems getting integrated it becomes easy for it department to identify such violators.

Lastly ignorance of the law is not a valid excuse.

 

[gowmara]

I want to know, what happens to my credit cards after I become an NRI?

Will it be renewed after it's expiry date? Or will the banks close the card?

PS: Out of all the cards I own, I have bank accounts only in HDFC, IDFC and PNB.
Apart from these, none of my credit cards are linked to any bank account.

Let me know if having a bank account affects anything. Or whether different banks have different policies on this.

@korin Are you still using indian cc