I had a HDFC credit card. I paid my credit card dues but after that they genrated the new bill with membership charges. I told them since it was helt plus card there was no membership / anuall charges. It was then waved of. But the charged interest on it and the bill started rising again. I again used the card on my need and finelly a person from the bank called me and settled the total amount 9000 to 6050. once afer reciving they payment they he nevr turnd back. nor he was traceable. Now they have again build up a bill of 6000. I dont have any confermatry in writing but i know the number and name of person and date time when he came and commitme the settlement. what should i do now ?
Ombudsman is not effective. If he is receiving thousands of complaints from all parts of India, just imagine at what position will your complaint stand in the queue.
credit cards are evil. Do not get a credit card. banks will lure you into getting one but think of the consequences when you are not able to repay, and reject the offer. This is the worst product offered by banks. Credit cards are no less rip-off than money lent by "sahukar", if the full balance is not paid before the end of the month. Also the annual charges, "other" charges and insurance premiums are nothing but theft. The pain you'll go through when bank starts calling up for repayment will be unimaginable.
Credit cards are a very big liability. They are potential debt traps. Even if you are careful not to default they on purpose delay sending of monthly statements and insist on payment of only the minimum balance so as to ensure that interest rate and late fees can be charged. The worst part is that if indeed you wish to lodge a complaint this has to be done through the call centre and there is never a concrete address of any official of the Bank who can be approached in person for relief. Faceless organizations who hide behind the anonymity of telephones and computers are cowards. If indeed they are honest why do they fear to meet the customers face to face? Why are offers made over the internet without an ID to which customers can reply or clarify their doubts? Instead they have selective links which work only to activate a credit transaction %u2013 Is this not unfair? The worst thing is that if you wish to close an account you simply cannot do so because there is no body who you can approach directly and despite all the appeals made to the call centre bills will continue to come long after you have surrendered your card so beware!
hi sir tara here as i hav credit card of hsbc and citibank .my transaction with hsbc is perfect .but there is a problem with citibank as i failed to pay my last 2 installment they now charging me more than expected .sometime they call me to pay the said amout .which i found very high.and right now am not in aposition to pay the emiplz sir tell me about the procedure of settlement .because i dont want to come in praudalent list as i want to take a home loan .sometime i feel like doing a suicide.because they never answer properly ....plz
RE:CREDIT CARD INSTALLMENT
by Amitabh Akolkar on Jun 21, 2007 08:32 PM Permalink
Take a personal loan and pay off the full amount with all the charges. And make sure you never get a credit card again in your life.
The past three months, I applied for three credit cards from different banks. All of them have been rejected and they give no reasons.
I'm one of the directors in my company and all my employees have the credit card from these banks. What I have understood is that it's my personal data with the banks which is the reason behind this.
I had three credit cards and I cancelled all the three last year. They were becoming a nuisance, like losing my cheques, taking payments well after the due date even though the cheques were put on time and host of problems which I'm sure that everyone faces.
The worst part is that HSBC with which I had a credit card also rejected my application.
I think that Standard Chartered Bank, with which I had a arguement regarding my credit card is behind my name getting black listed. They cut my credit limit without informing me. This they said was because I was not using their card. I had to face an embarassing situation on one of my trips because of that.
My questions are: Do I have a right to find out why the cards are getting rejected? If yes how do I go about it? Can I sue the bank (Standard Chartered) if they were behind this?
RE:Credit Cards applications repeadetly rejected!!
by Tarun Nair on Jun 21, 2007 07:36 PM Permalink
unfortunately you cannot ask the banks for reasons for declining your application as they are well within their rights to do so without giving reasons. In all probability, Standard Chartered has tagged you as a defaulter on CIBIL (Credit Information Bureau). CIBIL is used by all banks to determine the credit worthiness of a person.
Recently Standard Chartered Bank has sent me a Titanium Card. Over the phone they informed me that it is life time free except I have to pay one time some charges. I would like to know if this true and are there some hidden charges which they will charge me later.
RE:credit cards
by Amitabh Akolkar on Jun 21, 2007 08:39 PM Permalink
mate if you think you have got a great deal then think again. Just don't use it and return it back immediately in pieces. credit cards are evil.
RE:credit cards
by Campro on Jun 21, 2007 07:14 PM Permalink
remember one golden rule--- there is nothing called free in this world. apart from that, have u given a thought as to what 'lifetime' means. a person with all known vices like me may define lifetime as at best 50 years. whereas others might prefer 80 years.. and some cartoons might even live for 100 plus years... ask the bank --what is lifetime??? cheers
Hello Sir, One of my friend had taken a credit card and she had lost the card, but unfortunately she came to know after 5 days. But by the time the culprit had used the CC for Rs. 75,000/-. She had informed the Bank on the same. Now after 20 days the bank people had sent the Dispute form to fill and send back to them. Now she is in dilemma, what to do next. Because the bank people are not clear to her.
RE:Dispute Transactions
by krishna I on Jun 21, 2007 07:11 PM Permalink
i think this not a story of your friend. this is your fictional story-- either this has occured or you are planning to put your plan into execution. anyway good luck.. do as above, prepare a fax letter and send to back. follow up with an e-mail with a cc to yourself. later dispute the transaction and wait for 2-3 weeks and inform the obudsman. happy spending!!!!!!!!!!
