abhinav (MKTG ) 09 July 2012

Credit card contract( application form) terms breach

Dear All,

I have a query with Credit cards Contract Terms & condition's violation by the Issuer Bank.

If any bank violates the terms of Contract by charging any fee which was against of the terms of contract under which the customer had entered into the agreement of using the credit card facilities. wht shall be the proceudre to take the legal action against the bank.

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2 Replies

Kumar Doab (FIN) 09 July 2012

The language used in the CC issue form can be tricky. It might have been mentioned that terms and conditions expressed herein and all T&C introduced from time to time shall be applicable/acceptable.

CC companies also cite MITC which are posted at their website; although in a contract any new T&C should be informed to each individual customer for acceptance and till accepted it can not become applicable as the contract is legal. Banks like Citi bank have started posting MITC along with all monthly bills. Banks/CC companies also claim their CCE call and update the customers.

However if bank has overcharged customer should complain to bank as per grievance redressal mechanism, MD, Chairman, and then if no resolution /relief is delivered customer has the option of approaching the institution of print and electronic media ( the idea is to tame and shame the bank), legal-consumer-public-social portals, RBI,BO, DCDRF, police, courts of law, Lok Adalat etc.