I withdrew Rs 300 once by my credit card for change.
I was charged another 300 Rs for it. I did it twice and both time i was charged the same till i got the statement and came to know about it.
I paid 2500 Rs out of Rs 2700 pending to my credit account. Then i didnt paid balance 200 Rs. since Feb 09.
I am charged Rs. 350 per month for not paying minimum amount every month and Rs 400 for automatic debit facility from my savings account of ICICI. Totally i am being charged Rs. 750 per month since Feb 2009 for just Rs. 200/-. Present amount due is more than 6000 Rs,
Imagine how much %age banks make for few hundred rupees in credit card.
For the last 2 years I used Barclays Credit card. I used to spend around 25K to 30K every month and pay by cheque with full outstanding. In Aug.2008 I received a call from Barclays & they enrolled me in Barclays priority circle club & they deduct money 5K from my usual monthly outstanding payments. The next month statment showing that still I have outstanding with Bank. Immediately I called the customer care & request them to reverse unpurchased transactions in my statement. They refused me and & I also stop to use the card and they continuously sending the statement. Finally in Mar 2009 collection agent called me for settlement I paid the settlement of Rs.15K even though still I am getting the statements & calls till today. Very bad experience.
Re: Re: Experience Barclays CC
by Ramachandra N on Oct 22, 2009 01:34 PM
If you have documentary proof, take the matter to Banking Ombudsman. Write a email to the bank, stating your intention to go to Ombudsman, and inform them that the email is the mandatory one month notice Ur problem will be solved immediatelyl.
Re: Re: Experience Barclays CC
by ashish tiwari on Oct 23, 2009 10:11 AM
I am very happy with my abn amro 1 card.. they offer me Rs 1 cashback every 100 spent and i m getting it without fail for past 2.5 years
Guys, I have also had a exp in this matter. My friend had account salary with ICICI. Also cc was with ICICI. It appears, if u dont pay, they can block your savings account if it is with the same bank issuing credit card. It isdone, if you have exceded your due date. So best suggestion, is chose a CC from a bank, different from that of your Salary account bank.
Re: Credit Card Users Be careful
by Anand on Oct 18, 2009 11:19 PM
From July onwards CC companies could ask your employer to deduct the due amount directly from the salary. I believe it could be possible only on salary accounts..not sure if you hold the account of another company than ur salary account.. There should be something for it also..
Re: Re: Credit Card Users Be careful
by rahul on Oct 20, 2009 11:48 AM
This is not possible as the employer has no rights to mingle with the employee issues.
Re: Re: Re: Credit Card Users Be careful
by kiran kumar on Oct 21, 2009 02:46 PM
It should not be possible for a Credit card company to enforce their collections on to employers. However, if the Credit card company is able to get a court ruling regarding salary deduction, employer will be bound to comply with it.
And usually to get a court order, it is a lengthy process and Credit card companies will not go this route unless the balances are huge.
Re: Re: Re: Re: Credit Card Users Be careful
by himanshu narang on Oct 22, 2009 11:10 AM
Buddy, did u read through the CC agrrement thoroughly before putting yr autograph on the dotted line! They have a provision, they can have any "CHNAGE", they just need to inform y, either through the statement or email, which unfortunately most of us don't bither! Be Cautious before u put yr Autograph and swipe!
Guys, I have also had a exp in this matter. My friend had account salary with ICICI. Also cc was with ICICI. It appears, if u dont pay, they can block your savings account if it is with the same bank issuing credit card. It isdone, if you have exceded your due date. So best suggestion, is chose a CC from a bank, different from that of your Salary account bank.
I have been using a Citibank card for last 12 years, I have kept my credit limit low. I use it for almost all of my purchases & never buy anything through it if I feel that I will not be able to pay the full amount in next month. Annual purchases ensure me 2 -3 months of free petrol through the points earned on the card.
I am using CC of ICICI bank for last two years and had purchased many things..to stand it out a laptop costing 56K, household items costing 45K and 9 to 10 domestic flight tickets. I never went for EMIs and before i swipe ..i check my Debit account and think how i will repay it the next month. If i think i wont make it next month, i usually delay the purchase . i believe it is a good way of using credit card only after checking debit balance
Re: Before you swipe think how you pay back the money
by My Opinion on Oct 17, 2009 11:27 AM
You are right in your approach. In impulsive buying we realise later that we have actually paid double the price when the credit is revolved.
Re: HDFC Credit Card is the best
by Guest on Oct 17, 2009 10:38 PM
I think so. Their other services are also deserve a mention. However, has anyone tried out Barclay's cards?
Re: Re: HDFC Credit Card is the best
by Dinesh S on Oct 18, 2009 08:48 AM
Never even opt for barclays card, their service is pathetic at its best. I had a situation where they sent me a statement with a bill amount, email with a a different amount and debited my bank account with a totally different amount. and they have the worst call centre ever, try calling them and it takes almost 10-15 mins before u actually get a human being to talk to u. I actually prepaid and EMI and closed the card within 3 months of getting it. Dont even think about going for the card.
