I am using almost all types of credit card and thinking that I should have at l;east on card from nationalize bank like SBI I went for it. Clearly this was the only reson for going for it. Else I was very happy with ICICI card(Using since 8 years).
I took my case to the contact provided by SBI card, but every where I got same answer. So I am putting my case infront of society through this blog for your suggestion. At least this will be lesson for the SBI Card holders or who are planning to go for SBI CARD.
Suggestion is: Try to avoid usage of any Credit Card, But if at all don;t go fo SBI CARD ever. Even don’t keep it with you. I am 101% sure that It is not run by real professional. I am sharing my painful experience please go through it.
I got my card in April’07 with lots of promises like "Fees are free, this one is free, that one is free...." . After making calls to Customer care reverted back.......
Then afte some days got call from Cutomer care about some good offer.
1st offer:: BALANCE TRANSFER for any outstanding on other cards....
Rules:: I can use it for 3 months without any cahrges. only min 5% payment per month.After 3 months some havey interest rate. ---- I agreed for this offer.
Cutomer Care guy was happy (may be thinking that BAKARA mil gaya), He told me one more offer i.e
2nd offer:: EASY DRAFT
Rule:: You will receive DEMAD DRAFT (DD) and you can use it for 1 month, but with frees of RS.199+Taxes.
I agreed for this also thinking that I can return this EASY MONEY in one month and BALANCE TRANFER amount in 3 month.
Now Just read this drama care fully, a good example of CHEATING::
I full payment before 1 month for the amount whihv should pay Full EASY MONEY amount and 5% of Balance transfer amount. I was in the conception that I used EASY MONEY and paid back now I have to pay back BALANCE TRANSFER in 2 month.
Guys did I made any mistake here??
I din’t bother till I paid full BALANCE TRANSFER amount in 3 months. Ideally I stuck to the rule told by Customer care and made all the payment within time limit.
Now later learnt that,
Whatever amount I payed against EASY MONEY is been settled against BALANCE TRANSFER in 1st month itself. Now I have to pay some heavy interest since I use EASY MONEY amount beyond 1 month. I was shocked seeing after learning this.
Customer Care said that he can’t help put since computer has taken this decision. Then I contacted SBI mail, through FAX to VP. But every where I got following anser. Guys go through it will be at least helpful to you
"
This is with reference to your communication dated July 31 2007 regarding your SBI card account.
Payment Related: In continuation to our prior communication, the plan priority in which the payment on the card account is adjusted is given below:
1 is highest and to be cleared first & 3 is lowest priority
1) BT
2) Retail
3) Cash
Thus, the balance transfer plan takes the highest priority followed by the cash and retail plan. Any payments which are applied to the account clears the outstanding in the Installment loans plan and the balance transfer as per the Payment hierarchy and then the remaining amount clears the Revolving plans.
"
Guys my questions are if any of SBI officer is reading this:::
1. why it was not been told by Cutomer Care when I agreed to go for Both the offers about such priority. ??
2. Why there was no cimuunication in written or by mail about your such rules. At least in the 1st statement you could have mention in the message field about such rules for the cutomer??
3. Is it that, now I have to suffer with heavey interst charger for not my mistake??
Guys I have paid all the amount as per rule but now I getting statement with compunded interest. Clearly this is the cheating case by SBI Cards.
I have left with 2 options,
Either I have to pay back his compunded interest amount considering that this is Eye Opening Fees Rs.1500.
OR
I have to approach this case leagaly. For me time is money I can loose much more if I do this. But its a matter of ethics guys. If we leave like this there will be one more case.
Your Suggestions are most welcome!!
I can be contacted on sushil_m76@rediffmail.com.
Regards,
Sushil M