HI,
I am using this SBI Platinum Card from more than a year and it offers me 10% Discount on FBB fashion purchase.
And was satisfied with the features and service, until last month.
In my last months statement I have been debited the financial charge of rupees 623 plus 125 as tax.
when I investigated on it, I discovered the following:
I have converted one my expenditure into EMI’s, and I accept to aishwaryasingh23 the processing fee and the interest.
But after one month, I have been charged this extra amount as FINANCIAL CHARGES.
when written to them they say:
"Thank you for writing to SBI Cards.
This is with reference to your communication dated 16/7/2018 .
We truly value you as our privileged customer and regret the inconvenience cause to you in the matter address to us.
Finance charges: The Residual finance charges are levied at 3.35% per month plus GST(as per applicable charges), on a daily basis. The residual finance charges are levied till we do not receive the complete aishwaryasingh23ment.(Hence, the same is liable to accrue residual finance charge for period between the statement date and the date on which full aishwaryasingh23ment is received).
Further, we would like to inform you that if in case the aishwaryasingh23ment is not made towards any statement in the previous month, residual finance charges @ 3.35% is charged till the date the complete aishwaryasingh23ment is not received.
We regret to inform you that we express our inability to reverse the residual finance charges on your SBI Card Account."
According to them, when I opt for their flexiaishwaryasingh23 service(like I did last to last month) any transaction I do there after will attract a financial charge of 3.35% until my EMI’s tenure is completed.
This is what they say written in term & condition, but my concern is why this charges.
I am aishwaryasingh23ing you the interest, the processing fee to get the transaction converted to EMI’s. then why cant I enjoy the card for other transaction( On every transaction now, they will levied this financial charges of 3.35%)
Recommendation to everyone, do understand every features or services offer very carefully.