Credit card service!?

Question

Bank has charged interest of Rs. 60 for defaulting in payment where as i have not used my card for the month of Dec. Upon, inquiring, i was told that 0.99 is still outstanding for which the interest has been levied. How can a customer pay 0.99 when the online service charge itself is Rs. 5/- for making payments.

Answer 1

Dear Manikandan

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.

The structure is different for credit cards for levying interest / late fee etc.  Please get in touch with your bank officials for a clarification and ask for waiver.  I'm sure, they would consider.  However, also note that any unpaid / outstanding dues on credit cards, even if it is only in paise, would attract late fee and thereby interest on it.  So, in future always pay off the total dues, may be Rs.5 or 10 more to save on the unpleasantness of going through all this.

RAJA