Regarding credit card conflicts?

Question

Dear concern, I have wrote many emails for settlement due to upgrade cards to signature after that made complaint to withdraw annual fees charges inr 4999 because i do not want to take any welcome vouchers instead of inr 4999.Again they have degraded card to platinum and added annual fees inr 2999 and deducted inr 4999. I have stopped the payment since december, 15 /january, 16 after resolve issue i have to make payment with my cards. Since they have not decided and added non-stop charges.
I am here declared that i will not make any single penny in this regards to close this card. Anyway i am awaiting final settlement value after withdraw all the additional charges. After that i have to think how to close.Otherwise i have to submit suit in this regards in consumer court to finalize the payable amount.
Thanks 
Kumar

Answer 1

Dear Kumar

At the outset, let me clarify that this site is designed and managed 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 credit card issuing bank would be levying relevant charges, in terms of the agreement that was executed/signed by you, while making an application.  Unilaterally stopping payment of the credit card dues would incur more charges like late fee, interest etc, which are very huge for card credits.  Hence, the better course would be to meet up with the credit card officials of the bank, talk to them, explain your grievance and seek resolution.  Else, the Bank might handover the recovery of dues to some agency, who might create unnecessary harassment by phone calls, personal visits to office and home etc. If you can not prove your allegations against the bank, then approaching the consumer forum / banking ombudsman would not be of much help.

RAJA