RE:Get Settlement done as early as possible....
by Srikanth Chundi on Jul 17, 2007 06:34 PM Permalink
did u pay 30Kx12 or 30K/12 in 12 months??
Both the ways its stupidity....if bank had agreed to make deal of 30K for 65K then you cud had got better deal of not paying at all......or if you paid 12x30K then u paid 3.6L for .65L .....even by credit card interest standards its high enough to be called as rubbish.
RE:Get Settlement done as early as possible....
by Mayank Sharma on Jul 17, 2007 05:04 PM Permalink
Good, Soon you will find your name in defaulter database.
RE:Get Settlement done as early as possible....
by Pradeep Kudethur on Jul 17, 2007 05:30 PM Permalink
ur the biggest fool on this earth, if you really paid 30K X 12 EMI for 65K
It is the bloody credit company who is at fault by cheating people and writing their terms in small print and language which a normal IQ person cannot infer...Why don't they boldy say what they charge...Why are we the public always to be careful for something where the card companies can inform public in a better way.... I think we have been a oppressed lot for a long time and are not aware of what we need to know. It will not be long before credit card companies will be more transparent......But meanwhile for godsake we as public should not take things sitting low ....
I have a tip for you. Never make apart payment more than minimum. If you are unable to make apayment and wish to pay total in next monthwith lare amont, pay entire amount by cheque and make cheque bounce by making a defective,advising the bank or keeping lower amount in account. Te amount will be credited to your account and therafter will be debited on bounce .You will have to pay the penalty of bounce cheque only whch is nominal.Make full payment next month. I developed this trick accidently. Try when you want to pay n next month
RE:Credt card problem
by taju begum on Jul 17, 2007 05:28 PM Permalink
Mr.Vipin this is a wrong practice, do you know that you can be penalised for the cheques bounces. if you cannot say good things, atleast do not preach wrong deeds.
RE:Credt card problem
by Nilesh Gopal Wani on Jul 17, 2007 05:46 PM Permalink
whatever it is but atleast some one has found wat to fool the Credit card companies......
RE:Credt card problem
by paul on Jul 18, 2007 09:24 AM Permalink
Hi Vipin, Do u know the meaning of a dishonoured cheque ? Its a NON BAILABLE OFFENCE. You cld be put behind the bars and no bail, if you are not sure abt rules, don't put on the things in such boards.
SBI card, i faced a fake person impersonating himself as agent of SBI card to collect dues in cash. Actually he was same person who opened my SBI card account and later no longer in service of SBI card. When i asked about the receipt of SBI card , then he could not produced the origional one , so i refused to pay him and saved luckily of fraud. The Agents are not to be faith on except online transaction
Some time back the same problem i have faced . my payment is rs. 9800.72 and i have paid 9800. In next bill i have found a interest @2.95% charged by bank on whole amount. And i contact customer care and they reverse back all charges . So, it requested to you please contact cutomer care your problem solved immediately.
I think it is right time the maximum interest rate should be fixed by RBI. The maxium interest one gets in banks is about 10-11%so a maximum interest rate of 13-15% should be fixed which comes to about 1.25% monthly and interest should be on reducing amount and not on the full purchase amount. Another way of alluring customers is that their agents tell you that this card is free but actually they start charging after first year without taking the consent of the customer that if they are interested in continuing it or not. If you donot pay it they make threatening phone calls etc. The whole system of credit cards needs to be looked in to closely by RBI.
I had beeen using HSBC Gold card for over 2 yrs. I had an instance where I paid Rs. 3 less. The bank readjusted the amount in the next bill, without charging me an interest. Probably due to a non defaulter status. Avoid credit cards as far as possible except for online payments or in an emergency
I think this is a highly misleading article. No one can charge 1,849.23 Rs interest on 1 rupee. This is a serious mistake. I request rediff to verify the facts.
RE:Misleading
by Amarjeet Yadav on Jul 17, 2007 05:06 PM Permalink
Dear Freind , This is not highly misleading ,This big mistake by bank , If anybody require facts , can check her/his credit card statment.
RE:RE:Misleading
by vipin bihari mehrotra on Jul 17, 2007 05:06 PM Permalink
What is written is absoluely correct. In fact only SBI executive warned in advance to be careful i this respect
RE:Misleading
by siva kumar on Jul 17, 2007 04:56 PM Permalink
What the author has written is absolutely correct. Read it thorougly once again. The interest was not charged on one rupee, but on the outstanding of 30,009 and the purchase of 37,000. Since the card holder has not cleared the entire due the interest was charged on the total outstanding plus the new purchases made. The Re 1 may make an interesting case study - but actually if you talk to the bank they can waive the interest paid. They have discretion to waive the same.
RE:Misleading
by Mayank Sharma on Jul 17, 2007 04:59 PM Permalink
interest was charged on purchases made of some white goods of Rs.37000 Interest was charged on transections of previous months too.
I think that we should not use credit cards at all. . in fact we shouldn't have one.These banking sharks have ways more then a commoner can think of, to pump out your hard earned money.Its clear they are not here for the "you spend and simply pay later" plans.Now with a growing use of collection agents(read goons) their grey shades are being exposed. One must abstain from using these"luring cards" and should use debit cards instead which are more secure,authentic and practical.yuo are gone if you lose your credit card as these cards have no second line of authentication varification.
RE:use debit card!
by vinod nath on Jul 17, 2007 04:51 PM Permalink
I very much agree prashant Sahay. the best to protect urself from all that stupid dues is not to use it untill n unless extremely needed
I seek help from someone knowing complete details about credit card. If a person is defaulter from a particular credit card, his name go to the data bank of defaulter due to which he / she can not take any personal loan / credit card / car loan / housing loan as while cross checking the credentials of that particular person the banks come to know about the default thereby they regret that they can not offer him / her the loan. Now if that person repay the default amount or do the settlement, still his / her name reflect in that data bank for years. What is the reason for it and what is the process of deleting his/her name from that data bank of all banks. Is there any time limit that for so many years his / her name will be there in that data bank.
RE:Seek Help
by Mayank Sharma on Jul 17, 2007 05:03 PM Permalink
In all such cases as a customer you can't do much because bank will never accept that they have updated such details of yours in neg database.
Name will remain in database for ever but it's effects will get diluted with time, say after 3-4 yrs.
Best way to come out of it faster is that you should maintain all existing and running relationships with banks clean and clear.
