Hi All, Im from chennai, my wife holds a HDFC Gold Card for more than a year now. Its got a credit limit of 1 lac. We have been using it sensibly and paying promptly. but many times there has been a delay in receiving the statement and we check with the phone banking to know the minimum due to be paid and the due date, we pay just a little more than the minimum due that is to be paid. Once we had given a change of address, but it is still not updated in their system.
In order to meetup with some medical expenses, We have used the card to its full limit and the last statement that we received shows a minimum due to be paid as 22, 750/-. If 5% of the statement amount is to be paid as minimum due, which is the thumbrule in the market, how on earth is the calculations done at HDFC. If the minimum due is 22750, then our credit card is worth 4, 55, 000/-. On top of it, the collections dept is calling us frequently and aksing us to pay the minimum due immediately. Even after explaining to them about the error that has occured in the statement, they were not ready to listen to us, but forcing us to pay the amount immediately.
Finally we had to talk to the customer relations mangers over there and sort out this issue after a series of talks and exchange of statements. But today we have developed a sense of allergy to even hold that credit card. We feel like applying a loan through some means and close this credit card and be away from this tension once for all......