I have been using my card for a year. Mycard limit has been reduced 2 months ago to 10, 000 from 115, 000. On top of that theLate payment fees has been increased to 600, which is the highest among the 6 cards that I use and amounts to 6% of my card limit.
I had made the payment of around 3900 for December 2008 bill, 5 days late and for that I have been charged late payment fees and well as interest for the entire month and service tax. In effect, inspite of making the payment, the bank is treating me as if I had not made the payment at all. In principle, I should not be charged an interest component if i’m making the full payment.
The total amount charged including service tax is close to Rs.900, which is 25% of the original amount. This is costlier than getting money from moneylenders.
After I had made the payment, I received a call from the recovery office saying that I would be charged late fees if I haven’t made the payment. I said that I have made the payment a day before and he tookthe reference no. for the transaction.
I thought that I would not recharged the late payment fees. This happened again when the person calling from the recovery dept on 6th of Feb, asked me about my payment, I told him there is a late payment fees and I want to get it reversed he said a request has already been put in. Either the bank has no control over what the agent on the phone is saying or the bank simply doesn’t care as long as it gets it payment.
I have spoken to the customer service desk, and I requested tattletale the late payment fees be reversed as a one time request. the response I have got is that there will be no reversal of charges whatsoever on any ground.
And even if they have been doing this because I have a bad rating, why is the marketing team calling me and and telling me that my record has been good and offering me ’privileged circle membership’ for Rs.5000. Earlier when I received the offer I asked for a brochure or any written material stating the offers. they said I had to go to the website. and on the website too its not written properly what it offers.
They dont have any written material or email that they can send to the customer. they want to keep as much in the dark as possible. In the first year I thought they were different from other cards and really wanted to make a mark. But seems like they are only interested in making the customer pay as much as possible for any mistakes he makes.
I’m highly disappointed with this rule-book-showing, customer-fleecing attitude that i’m seeing in the bank policies and Intend to let this be known to everyone I know. I Prefer to deal with banks who are more interested in retaining their customers rather than fleecing them. I’m no more interested in dealing with Barclays.
Pranay.