Credit Card Banker

Guest (Querist) 06 February 2010 This query is : Resolved
Dear Professional Friends,

I may post my query for your views.

Query :

Even though the card holder is very prompt and regular in his payments for the usage of cards, whether the bank official has a right to take a decision to close the card accounts because the offical is unable to reach the card holder and the purpose of call is merely to give updation (matter is not known) to the card holder. Is it possible by the bank and is it fair on the part of the bank ?

Follow Query

Report Abuse

Parveen Kr. Aggarwal (Expert) 06 February 2010
It will depend on the terms and conditions contained in the agreement signed at the time of obtaining card.

Advocate SK Rohilla New Delhi (Expert) 06 February 2010
Yes: the bank can close your account subject to terms and condition of the agreement

NO: but merely on the ground that they are unable to contact you on phone is unreasonable. They should have send letter at your address and seek informations as desired by them. because you are not bound to disclose informations over phone for security reasons as you cannot asceratin the identity of caller

Therefore, I advice you to file a complaint in appropriate Consumer Forum.

ALL THE BEST