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Rusted Faith (Manager)     04 February 2010

Credit Card Debt

 Sir,

I had a credit card with citibank from 2003 to 2004. In March/April 2004, as I was not happy with the limit sanctioned, I cleared the debt in full and called the customer care to close the card. They advised me to call a Toll Free no. for my request. When I called the toll free no and asked them to close the card, the executive asked me to cut the card into 4 pieces and throw them (which I did faithfully) and confirmed orally that my card was closed.

Later, I was sent a bill indicating some Rs.3000+ charge (which I had not made) which I refuted by calling and complaining to the customer care dept. Finally the card was blocked and account closed in Nov 2004. But ever since, they've been sending me statements every month indicating a charge of Rs.600 as the late payment fee. It has now snowballed into Rs.60,000+

The collection department has been trying to reach me and everytime I've been sending them away saying I've complained orally to the customer care and that they should get in touch with them to solve this.

However, last month, I was asked to pay only the original charge of Rs.3000+ and close the issue. I however, did not agree to this.

Kindly advise on further action that I need to take.

Thanks & Regards



Learning

 5 Replies

Gabriel (Team leader)     10 February 2010

What are the consequences of intentional default on credit card payment. as per my understanding there are no law protecting banks against unsecured debts. if there are any what could be the worst case scenario...can some on go to jail or can bank freeze his asset or property.?

Please assist...?

 

Gabriel (Team leader)     10 February 2010

Ask them about these charges and seek waiver for same. if you have any proof of reporting for closure of card a/c please seek help of banking ombasdman. tell them the date of a/c closure. don't worry these blood suckers will not be able to do anything. all banks needs to maintain CRM. CRM has dates and time of your call and details. if noted by call centre exec. check with cust. care exec for same. get your data/right and scerw their happyness...good luck.

girishankar (manager)     17 February 2010

Dont worry about those Credit card its a big credit fraud no one can do anything ........If a collection agent comes and worries you better tie him and hand over him to police....

girishankar (manager)     20 February 2010

                                     CREDIT CARD APPLICATIONS

 

What it says: "We have shortened the application process..."
What it means: "We need lots of new members fast or we'll go out of business!"

What it says: "You have no predetermined credit limit..."
What it means: "We're not worried, we employ the Break Your Legs collection agency."

What it says: "Exceptional Customer Service..."
What it means: Except when you need it!

What it says: "Trained customer representatives await your call..."
What it means: "This is the part you talk into, and this is where you listen. Any questions?"

What it says: "To apply for membership, fill out this short form..."
What it means: You'll get the long form later.

What it says: "You may direct us not to share this information with anyone else..."
What it means: "Catch us, if you can!"

What it says: "We look forward to receiving your completed application. .."
What it means: "We baited the hook, let's see if anyone bites!"

What it says: "You've been pre-approved. .."
What it means: "You've been pre-approved to be Rejected!" or "We've already prepared your letter of denial."

 

Kumar Doab (FIN)     24 August 2010

Submit a written letter narrating the facts to the local Branch Manager under receipt and send to MD by registred post and mention that you owe nothing since you closed the card.Ask for call log data, and details of purchase by card after closure, by registered post within 15 days.Sit on the head of Local Branch manager, and handover a letter narrating your personal visits every time, under receipt.

Use attatched file.

If you do not get resolution within 15 days send a notice, and file jn consumer court.


Attached File : 11 11 master circular rbi on credit card operations.pdf downloaded: 89 times

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