i have one question if anyone can help me out with. My diseased father used to have HSBC credit card. there was some balance on his card at the time of his death. we even paid some amount as a full and final settelment but it didnt happen. every year before closure of economic yr, ie. b4 end of march, bank ppl come to enquire, each time we tell them the same old story happend in the past. they note it down and go or else request to pay any amount as a full and final settlement, they dont force. now if i plan to opt for hsbc card only then this above mentioned matter can affect me in any way, in the furute?
RE:credit card
by vijay hegde on Jul 19, 2007 08:32 PM Permalink
You should approch the consumer court in tardeo and send them a filed application. tat will fix them right and also save u from trouble in the future. Also, you may file an RTI (right to information ) . This will again fix things . They wont bother u again.. I have done it for SBI cards and the issue was resolved.
RE:credit card
by max on Jul 20, 2007 04:30 PM Permalink
in case of death of card holder, there is a rule that the bank will waive the outstanding amount.
I drop DD worth Rs. 12,000 into a HDFC DropBox. But they said u have not give any cheque/DD, So cancel that DD and give fresh DD. Even I give the DD Number and photo copy of challan for that DD they dont accept that. For the amount more than Rs. 7000/- u have to give bond to the remitted bank. So I went to that bank and give bond and requisition letter. This process took 2 months. For that period HDFC charge me late fee also. For cancellation also i spend more than 500/-.
After one year again they said we dont receive payment while i drop a cheque in their drop box.
Hi!I think it is better to use Nationalisedcredit cards except ICICI,like SBI ,Andhra Bank and others instead of SCB,Citi Bank,etc. as we can'talways carry cash.
I have taken personal loan from ABN AMRO Bank and I do want to forcefully close the loan before 4 months but bank is charging 2 % charges on remaining loan amt.,why ? , Is it a crime to repay the loan before date ?
RE:not easy to repay easy loan
by hrp on Jul 19, 2007 10:31 AM Permalink
it is not crime but definetely against the goal of the bank. bank gives loan to earn interest (not for social service). you're lucky, CITIBANK charges 4% penalty on balance principal amount and they allow pre-closure of loans only after 6 months!
I had the exact same experience, only on a smaller scale.OFcourse it pissed me off.But the thing abt credit cards is not that you cant manage money but its the "Ease" of use.I can swipe ONLY credit cards (and Not debit cards) at Multiplexes, online flight bookings.IF everyone began to accept debit cards then credit cards SHOULD become history!
One of the richest men in the world has warned youngsters to stay away from credit cards. And it is true. Instead of learning all the hidden rules created by these CC cos, ie instead of wasting time understanding how to manage credit cards, spend time learning how to manage money. You and your family will benefit more from it. The whole business model of Credit Card business is based on the intent of fraud. Learn from Buffet and stay away from credit cards.
RE:Warren Buffet
by vikas aditya on Jul 19, 2007 06:31 AM Permalink
I have always MADE money from Credit Cards and have never paid any single penny to bank by following simple principles.. -Pay in FULL before the due date. No need to pay interest -Use ONLY one credit card and pay using online banking..no chance of forgetting the due dates -Use reward points for Filling Petrol and saving money there :) -Take advantage of all Cash Back promotions.
You will MAKE money from credit cards. It's that simple!
RE:RE:Warren Buffet
by suhit kumar on Jul 20, 2007 12:27 AM Permalink
This dude is absolutely right. If one follows these simple rules, then using credit cards won't be a nightmare
RE:Warren Buffet
by B S on Jul 19, 2007 12:10 PM Permalink
I too agreed with this statement "stay away from credit cards..." because these big banks kill the small customer by charging anything for small mistake.. RBI should make one rule for all banks whether its pvivate or nationalise . like if minimum amount in saving account is not maintained ..then charge should be same in all banks..for stop payment... for every bank related act there should be unique charge system... should be defined by RBI... don't allow bank to kill small consumer... its after all consumer's hard earn money
RE:Warren Buffet
by B S on Jul 19, 2007 12:08 PM Permalink
I too agreed with this statement "stay away from credit cards..." because these big banks kill the small customer by charging anything for small mistake.. RBI should make one rule for all banks whether ist pvivate or nationalise . like if minimum amount in saving account is not maintained ..then charge should be same in all banks..for stop payment... for every bank related act there should be unique charge system... should be defined by RBI... don't allow bank to kill small consumer... its after all consumer's hard earn money
If the debit card is acceptable everywhere, like purchasing things online or Railway booking... we need not depnd on the credit card. why the people are not accepting debit card instead of credit card when there is enough money... I'm unaware about these system. if anybody can clarify.. nice to them...
