Credit card overlimit fee charged unnecessarily?

Question

I have a credit card  I have not crossed the credit limit stipulated by Credit cards division, but I was charged over-limit fee of 500/- and service tax of 14.5% on the over limit fee. This is even unfair practice. Please let me know if there is a way to avoid this unnecessary penalty on my account.

Answer 1

Dear LN,

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 complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

I have no means to verify your claim that you have not breached the credit limit and the bank erred in levying penalty. It would be ideal  to approach your bank for clarification and pursue further if there is indeed a case. If you do not get the desired cooperation from your branch, please write to Nodal Officer of the bank for resolution. You can find contact details of Nodal Officer on the bank's website.

Regards

 

J R Mohandas