Credit Card Cancelled due to Late Payment
By zralte
@zralte (4178)
India
March 2, 2011 1:28am CST
I am disappointed in SBI Credit Card. For those Lotters who are not Indian, SBI stands for State Bank of India.
I never have any account with SBI before. They offered me SBI Railway Credit Card for two years and last year, I accepted. I thought it is alright to keep emergency credit card. I have always tried to pay the bills on time - most of the times the full bill. Even when I cannot, I pay at least half. I don't like to pay Interest charges, late payment fees, etc.
Since I don't use my SBI Credit card regularly, some month there are no bills. I opted for e-statement (to save paper - doing my bit for the environment lol), so, yes, sometimes I do forget about the bill.
The past three months has been a little difficult financially, so the credit cards bill piled up. Like I've mentioned, I didn't have money to pay the bill on time. They called me up and I explained to them that the money I expected did not come and that I would pay as soon as it arrived. They called me 3/4 times in a span of one week.
Finally, the money arrived on 19th Feb and the first thing I did was pay off all the bills which have been piling up, including the SBI Credit Card Bill, which I overpaid thinking of the late payment charges I'm going to be charged.
I received a call from SBI Credit Card on the 20th asking the transaction details which I have given.
Then I received a letter on 24th, the letter was dated 19th Feb, stating that my Credit Card has been cancelled. I called up the Customer Care, and I was informed that since I broke the rules and regulations, my credit card stand cancelled and that they will issue me a cheque within 15 days for the amount I overpaid, then they dropped the phone on me.
I think it is very unfair of them to cancel my card without warning and be rude about it. Agreed I AM wrong, I'm not denying that; but I did pay as soon as I get the money. With the number of calls they have given, couldn't they have given me a warning that my credit card is going to be cancelled? Or when they called up the day after they have written me a letter (to get the transaction details), they could have informed me that the card is cancelled.
Technically, there is nothing I could do as they are within their rights.
Do you think it is fair that they did this to me? Has anything like this ever happened to you?
1 person likes this
3 responses
@dpk262006 (58675)
• Delhi, India
19 Apr 11
I can understand your problem because one of the private banks (won't name here) cancelled my credit card on the grounds that I did not use it for the last six months. In your case, they would have warned you before cancelling their cards. Now a days, banks issuing credit cards, have become stricter and do not show leniency . When I contacted in my case they said that they have changed their policy and those who do not use their credit cards regularly (for six months) are treated as inactive customers and their cards are cancelled. I told that I was not informed about the change in their policy, but they didn't listen at all. I felt so bad they way they treated me but I had option but to keep quiet.
@dpk262006 (58675)
• Delhi, India
20 Apr 11
Customer Service representatives are always helpless and I do not find them very cooperative, some are ignorant and some of them just do not understand our querries.
@zralte (4178)
• India
20 Apr 11
Well, I shouted a bit at the customer service agent that I called, but apologised to her saying that I understood it's not her fault, but that I wish she would write that up in her report so that the higher-ups can see how displeased I am. I felt really guilty at shouting at the agent, but I had to let out my anger.
@webearn99 (1742)
• India
2 Mar 11
It is good that you have learned a lesson. Bankers everywhere are like this. The very definition of a banker is,
"A person who lends you an umbrella in fair weather and takes it back when it rains."
Please do not use your credit card on your projected income! Use it only when you have enough bank balance. Banks in India are unscrupulous and some even set "collection agents" on you. These are hooligans who can go to any extent.
http://www.consumercourt.in/loan/6922-harrasment-threats-misbehave-icici-bank-collection-agency.html
Please be careful.
@zralte (4178)
• India
2 Mar 11
I never did like Credit Card, and now I like it even less.
I don't need to have a credit card if I have enough on my bank balance, do I? I have a debit card which I can use when I have money in my account. I only use credit card in case of emergency and yeah, when I purchase things online and the store accepts only credit card, that sort of thing.
The least they could have done was inform me about it. They have been pestering me enough with their offers.
Good Riddance is what I say. They told me they will re-activate it in 6 months. BAH. Never!! I already cut up the card and will refuse it even if they beg me.
