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SANJOY MITRA (RLM (East))     30 December 2014

Credit card penalty & charges

Dear Sir/Madam,

I have made payment against complete outstanding in my Credit Card bill for Aug-14, but delayed for about 10 days from due date, due to business trip. Instantly I have given a request to customer care to waive-off the fine/penalty. But that request has been rejected. From Sept-14 onwards I have made payment for original bill amount only against some Insurance premium Auto-debited through that credit card.

But I have not paid the penalty amount and bank continued to charge Interest on that due Penalty (Finance charges) for last three months. After so many mail communications finally they mailed me that they will not reverse the charges anyhow. Now I want to make payment for my original dues only which is against my expenses, leaving the charges/interest portion which will be around INR 2000/- which will remain unpaid.

Now I have stopped using that Card & de-linked all Auto-debit option and requested concerned bank to cancell my card. 

Now I request advice from all of you:

(1)      What kind of legal action they can take against this due?

(2)      Whether I am bound to pay Finance charges by legal provisions & act?

(3)      Whether they can put this matter in CIBIL?

(4)      Whether this may go against me in case I need to take loan in future from others bank ?



Learning

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