RE:Similar issue
by Joji Tom on Jul 17, 2007 04:33 PM Permalink
Same thing happened with me also. There is no solution. I just got that card cancelled after paying the interest and am careful while paying.
We all know Credit card is the biggest looting tool banks using to suck our money, but we are still using that. Unless we stop using cards, these type of shocks will come often.
RE:What you didn't know about your credit card
by Santhakumar Jothimani on Jul 17, 2007 04:46 PM Permalink
Recently I Closed all my credit card (HDFC,ICICI,Amex) all dumped on me by my company and now a happy man and I decided firmly not to use any more credit card and to use only debit card (Buy if with own cash).
This all because of the pain full life i had by having this Plastic credit card.
HERE IS MY EXPERIENCE I HAD A TAKEN A PERSONAL LOAN OF RS. 1,00,000 FROM CITI BANK ON MY CARD AND TO BE REPAID IN 36 EQUAL INSTALLMENTS BY POST DATED CHEQUES. THEY HAD COLLECTED 37 CHEQUES (ONE EXTRA IN CASE OF ANY CHEQUE GOT BOUNCED ETC) ALL MY 35 INSTALLMENTS WERE OVER AND THE LAST OUTSTANDING WAS RS.2100-00. I HAD INSTRUCTED MY BANKERS NOT TO HONOURTHE BALANCE CHEQUES AND INSTAED I HAD REMITTED THE DUE OF RS.2100 BY CASH THINKING THE LOAN IS OVER. AFTER 7 YEARS..YES SEVEN YEARS, I RECEIVED A PHONE CALL STATING THAT HE IS CITI BANK LAWER AND I HAD NOT COMPLETED THE LOAN AND THE BALANCE AMOUNT OF RS.30,000( THIRTY THOUSAND ) TO BE PAID WITHIN IN 4 HOURS OTHERWISE HE WOULD USE THE UNBAILABLE WARRANT HE HAD TAKEN AGAINST ME. I WAS SHOCKED. I WAS CONFUSED WHAT TO DO. MY FAMILY WAS IN TEARS. HOW TO SEARCH SEVEN YEAR OLD RECORDS. I SEARCHED THE WHOLE HOUSE. LUCILY I GOT THE PARTICULAR FILE, CITI BANKS STATEMENT OF RECEIVING 35 PAYMENTS IN TIME. BUT WHAT WAS MISSING WAS THE CASH RECEIPT FOR RS.2100. NEXT DAY THE SO CALLED LAWER CALLED AGAGIN AND ASKED ME TO PAY RS.15000-00 IMMEDIATELY TO AVOID JAILING. NEXT DAY I SENT ALLTHE DETAILS BY COURIER AND SENT A LAWER NOTICE DETAILING THE ABOVE THEN THEY CAME RUNNING AND SINCE I DO NOT HAVE THE RECORDS FOR THE CASH RECEIPT ASKED ME TO PAY THE RS2100-00 AGAGIN AND MY LAWER ALSO ADVICED TO PAY OFF THE AMOUNT BY CHEQUE. I HAD REMITTED MY AMOUNT AND I KNOW NOT WHEN THEY ARE GOING TO ACKNOWLEDGE . THE MENTAL TORTURE I EXPERIENCED FOR 3 D
RE:CREDIT CARDS
by Golden on Jul 17, 2007 04:44 PM Permalink
coimtore bhai, i you have my sympathy. i dont know why i am feeling like sharing my experience also. i shall start with one sentence "you did a business with thieves". they are thief and nothing more. there is nothing shame in being trapped, every body has to suffer this kind of thing sooner or later. after all we are human which is prone to make mistakes. what happend with me. citibank was the first to provide me a card when i was a student in IIT. i was very much joyed to get the card but sheldom used it as during my IIT period we normally dont go out for shopping. after getting a job in Bangalore, i used if for quite some times. it has already passed more than two years for me holding this card. i never had any problem as i used to pay their all dues in time with cheques which were duly recorded in my passbook. once i bought UPS using it and planned to pay it in three installments though everybody knows how much interest do they charge. during one installment since i got the statement too late and normally it takes two to three working days to get the cheque cleared. so i decided to pay it by cash (some 1600/-) as i did not want to go for penalties by paying after due date. i dropped the amount in the drop box in ATM location by putting the notes in an invelope which i asked for from their watchman only. in the next statement they asked me to pay the amount again as they had not accounted my payment and asked me to pay the penulties also. i called the customet care guy an
RE:RE:CREDIT CARDS
by Golden on Jul 17, 2007 05:16 PM Permalink
then again for the next two weeks there was no call from them. then they told that they have received 600/- rupees by cash on so and so date just to account my cash payment. in fact i had paied 1600/- rupees to them. they accepted this 600/- payment just to accept my cash payment. this was a clear case of cheating. then they told if i pay 1000/- they will close the case. i got furious and told: i am a muslims and dont fall before cheats (yes i told like this) specially before you. when i know that i am on the right path i can go upto any extent fighting for my right and i least care what you can do to me and i shall win because i am on the right path. wa qul ja'al hakko wa zahaka baatil, innal batile kaana jahooka, truth has come and falsehood has perished, for falsehood is bound to perish. you go and do what ever you want but dare not to call me again. truth is with me and i shall not bow down before you liers. i was a bit scared but thank Allah they did not call me again.
RE:RE:CREDIT CARDS
by Golden on Jul 17, 2007 05:10 PM Permalink
and they told they will look into this and i need not worry. in the next month they added extra penulty and asked me to pay the whole amount which kept on increasing per month. i refused to pay any money to them and finally i stopped using card also, in fact i did never used this card after they cheated me with my 1600 payment. then after one year suddenly they traced me and called me at my office number and asked me to pay 5000 rupees. i told the entire story and asked them to send me a gross statement including my cash payment of 1600 and they told they will look into this. next day some other guy called me and then i had to explain the entire thing again to him. next day some other girl called and when i told that i have an issue and i want a gross statement, she asked me to explain every thing again. i lost my temper. i just bulldozed her, telling that i am not a story teller here and i shall not pay you anything. then for the next one week there was no call. then again they started calling me and started threatening me of legal action. i too took stance, i told them: 01. when i reported about not accounting my payment of 1600 by cash why it was not taken seriously and even i was not informed with the proceedings. 02. why my card was updated and subscribed for the next year without my permission and even without informing me. let us go for legal proceedings, i shall ask these questions to you in the court.
RE:CREDIT CARDS
by Vivek Bhat on Jul 17, 2007 04:44 PM Permalink
NOBODY CAN JAIL YOU FOR NOT REPAYING LOAN ELSE ALL BUSINESSMEN WOULD HAVE BEEN IN JAIL TODAY.PLEASE GIVE POLICE COMPLAINT AGAINST THE LAWYER AND CITIBANK FOR HARASSMENT
well most us who use credit for atleast a couple of year, know all these tricks.. i wont blame ur friend totally, but yes, this happened to her bcoz of her carelessness.
these are the basics of credit cards. and some one who is regularly using card to spend like 30k per month, infact should be more educated abt these devil plastic stuff. Your unawareness can really take u for a ride.. Enjoi..
RE:Who's at fault..
by raman singh on Jul 17, 2007 04:26 PM Permalink
also since ur friend has such a good credit history, her bank wud like to retain such a customer, so u can threaten them with discontinuing their servises om case they dont revert the charges. for me this works many a times.. as it is there are hell lot of comeptition in the market for these guys. Who cares for the name of card, as long as u have sufficient credit limit.
Hi, I am undergoing with a despute with one of the credit card bank and the bank is not ready to give the proper solution. Please let me know if any body knows where to contact or is there any governing body which can get the matter sorted out. And if the bank is found in problem can I claim for the spoiling my credit image
RE:Credit cards are bad....
by Virag on Jul 17, 2007 04:29 PM Permalink
You can go to the banking ombudsman and register your complain. The ombudsman should be able to help you out in this matter
RE:Credit cards are bad....
by v h on Jul 17, 2007 04:30 PM Permalink
There is cetainly a CONSUMER FORM which can help you on the same .You can find the same in the credit card section of the website of many banks .
RE:Credit cards are bad....
by george yacobu on Jul 17, 2007 04:54 PM Permalink
PLEASE FILE A CASE IN THE CONSUMER COURT AND CLAIM 10,000,00 RS AS DAMAGE CLAIM FROM THE BANK IF YOU HAVE MADE YOUR PAYMENTS AND YOU HAVE THE PROOF.
RE:Credit cards are bad....
by Chandresh H Dedhia on Jul 17, 2007 05:37 PM Permalink
The despute is of a balance transfer to another credit card which is not reflecting in the statement of the credit card number mentioned.
RE:Credit cards are bad....
by Amit Bajpai on Jul 17, 2007 04:27 PM Permalink
Tear this card into two pcs and through in dustbin and tell the bank (Jo ukadna hai ukhad lo)
RE:Credit cards are bad....
by coimbatoreflow controls on Jul 17, 2007 04:29 PM Permalink
YES YOU CAN CONTACT BANKING OMBUDSMAN RESERVE BANK OF INDIA BUILDING II FLOOR RAJAJI SALAI,CHENNAI 600 001 AND IF YOU COULD PROOVE YOU CAN CLAIM DEMURAGES.
No credit card from even the most reliable issuer is not transparent. And since no one has the time and patience to read through the fine prints which the issuer interpret to their advantage,the user is always penalised .
