Cancellation of Credit Card?

Question

The credit Card cancelled without assigning reason held since 2007. Other cards had been assigned with undue charges despite of timely payments.

 

Answer 1

Dear Varuna

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.

Bank must be having substantiating reason/s for cancellation of credit card unilaterally.  If payment of bills by you are prompt / timely, as stated, the Bank should not resort to cancellation.  You may get in touch with the credit cards team of the bank to understand the reason/s for cancellation.  If you feel that the cancellation was unwarranted, given your timely payment record, do complain to the management of the Bank, whose details would be available on their website.  You can find contact details of Nodal Officer on your bank's website. In case you do not get desired response, please do not hesitate to write to BO. For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the website https://bankingombudsman.rbi.org.in/.

RAJA