Credit card Help Please?

Question

 

I want to inform you that in spite of telling so many times to the credit card customer care representative that why I am being charged for over due as my credit card is within credit limit. Everytime I call they keep me on hold for a long time. If this kind of attitude continues I have to initiate a legal proceedings in the consumer court. On the other hand I have been asking them to convert the amount in my credit card which I have pay into monthly EMI then also I m not getting a satisfactory solution. Please take this matter with urgency and looking for early and positive response from your side.

 

Answer 1

Hi Mishthi

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

It is normal and as per agreed terms that a Bank would levy [a] late fee, in case the payment is made after due date and [b] to charge interest, if the total billed amount is not paid as stipulated.  I assume that probably, you have been only paying the minimum amount and certain liability seems to be outstanding / accumulated, on which the bank has been charging interest.  If you can not pay the entire due amount at one go, you should get in touch with the bank credit card recovery team and request them to permit payment in EMIs.  However, conversion to EMIs is bank's prerogative.  The details of the Credit Card recovery team can be had from your home branch or alternately on the Bank's website.  Before approaching the Banking Ombudsman or Consumer Forum, please ensure that the efforts with the card issuing bank are complete, else it may go against you, since you are liable to pay the credit card spends, as per the terms agreed with the bank.

RAJA