Instead of begging for money the credit card providers are just looting by following tricks. 1. Send the statement late. 2. Donot debit the money into the account even after dropping the cheque well before time. 3. Add this tax and that tax and whether it is paid to Income Tax department or Government of India is not known. 4. Pay first and then talk of grievance and once life time is over coresponding with them. Debit card is better I feel or cheques should be allowed as a negotiable instrument at each and every place. Dishonour once also should cancel the accounts and name should be published and no more bank account should be allowed.People will then have some type of confidence in accepting the cheques.
FOUR YEARS BACK I WAS DUMPED WITH SBI CR. CARD.tHEN ITS ANNUAL FEE WAS SMALL.YEAR AFTER YEAR THEY WENT ON JACKING IT UP.IN THE SMALL PRINT ON BACK SIDE, NONE NOTICES THEIR JACKUPS.SUDDENLY, YOU RECEIVE A DEBIT FOR THIS HIGH AMOUNT. WELL, IT IS ONLY A SMALL PART. ONCE I HAPPENED TO RECEIVE A TELE-OFFER FROM SBI CARD CHENNAI SAYING,I HAVE BEEN SELECTED FOR RELEASE OF 54K LOAN REPAYABLE IN EMIs UPTO 48 MONTHS.I AM ONE ALWAYS TO BE IN MY LIMITS,HATING TO BORROW FROM ANY ONE EVEN IN EMERGENCIES. THE SBICARD CALLER OFFERED LOAN AT NOMINAL 10PC/PA,NO HIDDEN CHARGES.FORE CLOSURE WOULD ATTRACT ONLY 2PC.INTEREST ON BALANCE LOAN REPAYABLE. I THOUGHT I COULD PUT THIS OFFERED LOAN FOR A PROFITABLE USE. I ASKED FOR 46K ONLY REPAYABLE IN 36 EMIs. TO MY SURPRISE, THE LOAN CHEQUE WAS SENT TO ME AFTER THE USUAL MONTHLY STATEMENT IN WHICH, THE EMI 1000 AS PROCESSING FEE WAS INCLUDED. EMI WAS CALCULATED AS 36TH PART OF LOAN 3 YRS. INTEREST FLAT, THAT IS 30%.IT TOOK 6 MONTHS TO GET CREDIT FOR THE NOT-AGREED PROCESSING FEE. cREDIT FOR THIS FEE WAS RELEASED IN 3 INSTALMENTS.BUT, I WAS BEING ASKED TO PAY THE BILLED AMOUNT WHENEVER I COULD GET THEM ON PHONE. I USED TO OBLIGE. AS A RESULT,THE TOTAL MONTHLY DUES USED TO BE ALWAYS MUCH LESS THAN THE EMI DUE, BUT THEY USED TO INSIST ON PAYING THE EMI IN FULL.ONCE, I DELIBERATELY PAID 11 PAISE LESS FOR THE EMI BECAUSE,I WAS DUE TO GET FROM THEM MORE THAN RS.1100 DUE TO SOME THIRD PARTY CREDITS TO ME IN MY SBI CARD. THE CARD STATEMENT ACKNOWLEDGED THI
After lot of pestering i agrred for SBI card , i never recd the card , but definately receive the bill . I had sent letter by courier and Registered post , still the situation continues of receiveing bills
Hi, cc's make your life easier for you as you don't need to carry cash all the time. But many people forget to read the fine printed clauses when using cc's. And there are some banks also which look to extract money from us by not explaining the hidden terms and conditions. In the end it is up to you as to how safely you use your cc. It is advisable to cc than dr'c as you get point on cc which can be redeemed. Use cc to buy things which you would buy if you had cash. Its easy to get carried away with all that cr limit on ur cc to buy luxury goods. Remember you have to pay this amt. at the end of the month.
all SBI transactions have become nightmarish even depositing a cheque there is no drop box aand you have to deposit in banking hours - the credit card departnment is absolutely devoid of all scruples and gets everything mixed up. So now the only thing i have decided is have an SBI savings account with a 10-15 k balance as they do have a wide reach of ATMs which we can use and top up once you are back. NEVER USE SBI VALUE ADDED SERVICES INCLUSIVE OF CREDIT CARDS.
Credit Cards in itself are not bad and i have 2-3 which i have used for the last 8 years with no difficulty as i pay within bill date - the problem starts if you dont pay within daates. Also you need to check the bills with a fine tooth comb once you are willing to do that it is actually quite rewarding - ihave a full magpie bar set from amex a Tissot watch from HDFC and 3 return tickets mumbai chennai all on points earned for regular payments like groceries/travel/puja shopping etc.
Summary - dont get into the credit trap - no balance carry overs - just what you are spending on a monthly basis pay of to the pi.
I had a bitter experience with ABN Amro Card bearing No. 5415382309498269. Initially I was told it is a lifetime free card. At the time of renewal, I was asked to pay the annual fee. When I refused and told them that I am not interested in their card, I was told that I need not pay. However, when I received the statement, I was shocked to see that my reward points were debited. After protracted correspondence, now the Bank has agreed to credit the points back and also waive all late fee charges. In any case, I have decided to close this account and surrender the card after this bitter experience.
If you use citi bank's CC.. you'll get a night mare for even thinking of a credit card..
Their customer care service is worse among all the private banks..
Just give it a shot and try using Citi bank credit card and their customer care service.. specially the calls which are routed to Chennai customer care...
I swear they are the worse.. and no one can beat them in this...
Regarding payment of SBI credit cards, please be aware that your cheques should be dropped in State Bank of Mysore, in case you have taken the SBI card within Karnataka. If you drop cheques in any SBI branch, you are asking for trouble.
Find out from the phone banking officers of SBI Card that how you card payments should be done by cheque. More importantly, in which state bank you are supposed to drop in your cheques. Never ever drop cheques in ATMs ! After dropping in your cheques, confirm with the phone banking officers of SBI card that whether the have received your cheque.
So that you can avoid the nightmarish experience of Kiran Myneni.
