Fault in Billing both minimum and the total amount due same?

Question

My total amt. And minimum amt.due is same in my September and october months credit card statement bearing last 4 digits as 9007. Now after 2 months of my Service Request(SR381619715) they have closed my above account and transferred to ending with 0007 credit card no. And after transferring 40568.00 amt. I am facing same minimum amt. And total amt. Issues with card no. 0007 as well in which i didn't faced issues prior tranferring amt. 40k from my blocked card 9007

Answer 1

Mr Bani,

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any query / complaint / grievance in respect of financial services.  This site does not belong to any Bank or a Regulator, which may please be noted.

As regards your query, I would like to inform you that Bank allow revolving credit on payment of minimum balance of 5% of the outstanding. In case of overdue amount or renewal/joining fees, full amount becomes due. Since your outstanding stands transferred to a new card, entire amount is shown as due. If you have been regularly paying 5% of the outstanding, Bank may at its discretion allow you to continue paying 5% to a limited period. Once you clear the entire outstanding, the revolving credit might get restored. You can check up with the Customer Care representative of the Bank.

Regards

Deepak