Sir, I used a SBI Credit card for 2 years and accordingly made the payments whenever purchases were made, except for a total sum of Rs 2000 (little less than this), which I was not sure as no card statement was sent to me for the entire duration. After 2 years when I received the statement, I am asked to pay Rs. 14000 (Approx), as due. For the last 2 yrs, I continuously received calls from SBI card and repeatedly told them to deliver a statement, which they did not. Not knowing, what was the actual amount, I refrained from making any further payments. I made purchases worth Rs. 40,000 (or more) and all are paid except the above sum. I received a letter from the solicitor for SBI card, asking for a settlement. They are not taking any responsibility for the delayed statement delivery, had that been provided to me, I would have left with no charges today. Please advice, what should I be doing for this. Warm Regards Ashrunil Roy
I had to pay an amount of Rs.18457 .Afer the discussion with the Recovery agent I have paid Rs.18000 (one by cash sum of Rs.1100 and another of Rs.16900 by Cheque). I had to demand for settlement letter from HDFC Bank. HDFC has also send me a confirmation letter for the same. The rest of the amount was still pending i.e. Rs.457.After six months there was a call from recovery department for the rest od the amount i.e Rs457.I paid that also. They said the account is closed now. But now the HDFC bank is still asking for Rs.15222 which is the interest component .The status of the card is still in the blocked mode and is still not cancelled. Please help
Why do we need credit cards. Its all a trap of Banks and RBI to loot every individual. They r a real fools tool that they make on us. So better avoid all.
When there is due they wud call u 1000 times and when u have probs they will show u 1000 ways 2 get it more complicated. So better say bye bye to credit card and use a debit card instead.
Its high time that we keep quite. Lets all get together and form a forum and take on this junks called credit card.
Even RBI and banking ombudsman is of now use. Its almost 3 months of filing of my complain and still response is as lukeworm as it gets. Better all approach the highest authority.
RE:Be Happy Avoid Credit Card
by Omega on Jul 05, 2007 05:52 PM Permalink
There is a sensible way of making use of any facility. Credit card is just a CONVENIENCE CARD, i repeat convenience card. If you belong to say, a middle income group (in the bracket of 5 to 10 lacs per annum), there are purchases to be made every month, probably to the tune of say, 10000 ot 20000 depending on individual needs. What this card facilitates is - you don't have to carry cash stuffed in your purse, always just have the minimum required - say 2000 to 5000 mainly in currency of 500 or 1000. And remember, you should know how much you can spend which can be cleared off when the due date comes. I have a card with 1,49000 as my limit. That doesn't mean, I spend that amount every month. Infact, I make on an average around 15000 of purchase only. It is only those who don't listen or understand this simple principle, fall into a debt trap. Pay your dues on time and there are no hazzles. I am continuously using one single card for the past 3 1/2 years and I haven't had a problem. So, it makes no difference, which card you use. All that you need to remember are two important things - HOW MUCH CAN YOU AFFORD AND PAY OFF IN FULL ON DUE DATE. Don't flash it around and spend to impress your friends or relatives or colleagues or acquintances - they wouldn't be there to pay the bill
RE:Be Happy Avoid Credit Card
by Madhav Yadagiri on Jul 19, 2007 02:58 PM Permalink
I am surprised to see ur credit limit is rs.49,000 only after paying regularly for 3 years. very bad credit policy..
Hello, I have an ICICI EMI card, where the card features are we can buy any product and it will be converted into EMI with fixed amount of Rs 2000/ per month repayment with interest. I bought a Product for Rs 15000, where it was under an offer of 24 months EMI with 0% and the total amt of Rs 15000 was swiped saying that it will be converted to the said offer EMI, but now the bank is saying after 20 days that this offer cannot be used for this card and i have to pay as per the Card features with interest.I am following with the merchant and the ICICI bank to sort out this but till date iam not able to get any favourable answer from them. The offer commited by the merchant and the bank is not fullfilled and finally they have cheated me. In this scenario what i can i do. please help
RE:ICICI EMI card problem
by Ting Tong on Jul 14, 2007 04:27 PM Permalink
I think it is quite clear that the 0% EMI offer is not applicable on your EMI card.
The dealer has surely fooled you... For the usual 0% EMI offer you would have had to fill in an application and apply for the loan (which would have nothing to do with your credit card / emi card)...
Hello Harsha I had a citibank credit card when I was doing my PG in 2004. There was a due of 1500 rupees and I cut the card and deposited in ATM drop box with a written letter requesting for cancellation. From that time till now I am been receiving statements for payment now it has shootup to 14000. Please guide me what should I do now. Shall I ignore the statements or talk to concern bank people. Thanks.
RE:Citibank credit card
by Prakash Nadar on Jul 07, 2007 10:28 PM Permalink
pay the bill dude, you thought you were smart by cutting the card and that they will forget the bill. ICICI makes a good business from people like you. :)
Hi, I've problem with Citibank Credit cards wrt to Reward points redemption (985 points) for gifts. I had requested for reward point redemption Biotic Bhringaraj Bio apple and Bio Men Travel kit. Subsequently, I received a parcel on 02/06/2007 (AWB No.13129535). I found Bio Bhringarj and 2 bottles (out of 7 bottles) in Travel kit missing in the parcel.The parcel had been stuffed with packing materials and papers in the place of missing items. I immediately made a complaint (through phone banking). Comp.Ref.no.1407064688 dt.02/06/2007 and again after a week I reminded them. but I never got any response so far (as on 22/06/2007) I never expected such a abysmal level of service from Citibank. This is not the first time it is happening for me from the bank's end. Prior to this. I was offered to register for Net statement and was assured of giving a bonus reward points of 100 for registering for this service which I did. But so far the commited 100 points was not credited to my card account. Citi Bank is not committed to it's own promises and services. Is there any way to hold them responsible and accountable for such misdeeds ?
RE:Citibank - credit cards - abysmal service
by Prakash Nadar on Jul 07, 2007 10:32 PM Permalink
Switch to ICICI, I always hated Citi cards they are bad in USA too.
Jude asked, hi Harsha I had taken a SBI credit card in the year 2003, since my payments were in time my credit limit was also increased, unfortunetly in the year 2005 i had some problems and there was some cheque return from my side, in May 2006 i decided to close the card and it was settled for Rs 45000 payable in 3 instalments the first instalment was cleared the 2nd and 3rd instalment cheque was not presented in my bank after 3 months one person from the bank came and told me that your cheques have been returned since the MCIR no on the cheque is faulty he asked me to pay cash i agreed for the same, in the mean time when i approached my bank they said no cheque has been presented and even if there was a fault in the cheque to take back the cheque than pay the cash, when i told this to the bank person to bring the cheque and take cash he did not turn up at all, still date i am recieving statement from the bank with interest being added, also at the time of closure they had assured the previous cheque bounce will all be considered, and no action will be taken, but know they have filed a case against cheque bounce in the court for which summouns had been issued, I request you to suggest what should i do about the whole thing.
RE:RE:Credit Card closure
by bhanu kalyanam on Jul 04, 2007 02:32 PM Permalink
hey jude, i too am facing the same problem of getting a court summon..No complaint from my side is being heard..nor my side of the story is heard..i am wondering it is okay to shut my mouth and sit without paying any yield to thier notices as they are also going dead on my arguent..my card company is sbi too
RE:Credit Card closure
by Prakash Nadar on Jul 07, 2007 10:38 PM Permalink
This is a problem with the cheque payment. that is why I rely on net banking.
I had a HDFC credit card which had a balance of few hundred rupees before I went out of station for 3 months. When I was back I found the the late fee charges made it grow to approx. couple of thousands. I talked to the bank and I was offered a settlement and the card was closed. Unfortunately I din't knew at that time that it means, I will be treated as a defaulter. Now how can I get myself de-listed and correct this mark in CBIL? All my other bank credit cards, home loan transactions are very good, execpt for this slip. Please suggest? When I talk to the bank to rectify this, I am not getting proper reply.
