Hi Friends,
I have been using Citibanks credit card since more than a decade and have always paid all my dues on time. Never was any interest / late fee paid by me and none charged.
However, in 2008 I lost my card and was unaware about it till one of the Customer Care Executive called me up asking whether I was making the transactions that were being done. I realised that my card was lost and asked them to block the card which they did.
However, liitle did I realise that my nightmare was about to begin. When I received my statement detailing all the transactions that were done on my card, I wrote an email to the HO in Chennai asking for a copy of my chargeslips which the Member Establishment, where the transactions had taken place, must be having.
Initially they refused to give the same stating that the charge slips copies are not received by Citibank. When I asked them how they make payments to the member establishments and what records do they keep for explaining the same they admitted that they do have the copies of the chargeslips and couriered it to me.
After receiving and checking the chargeslips I found that none of the chargeslips had my signature and the member establishments had accepted my card without verifying the signature on the back of the card.
When this was conveyed to all the executives who were calling me regarding payments everytime they would not pay heed to it and offer me proposals of settling my dues. Asking for a proposal to be sent to me which could then be deliberated by me also proved futile as they were willing to give me a letter only after I made the payments. Now I dont know what prevents them from putting whatever they are offering in writing, ( as its an offer I still have the right to accept it or reject it).
Another difficulty that I faced was that after every statement I received with Late Payment charges and interest a new person would call me up about the payment and I had to explain to them all my points once again beginning from scratch. Efforts to get Citibank to put one person in charge of my case were futile.
I also asked all executives calling me up as to why does citibank give in BOLD letters that immediately on receiving the card sign on the back panel on the white strip to prevent misuse and your signature will be verified by our member establishments where you present your card to make payments. For this I had no reply from them.
So this initial claim of citibank that the signature will be verified is a big Joke.
Also they were ready to settle all my dues at half the amount due to them aftre waiving off all interest and late payment charges.
So therein lies a tip for you. If you want to make merry on your citibank card, just splurge and sign irregularly on the charge slips and refuse to make payments. Citibank will offer you concessional settlement and you can enjoy the goods at a discount.
However getting serious again, my case with citibank is not yet settled.
Can any member enlighten me on what steps to be taken next?
Regards.