Hi,
I am a Standard Chartered Bank gold card user from last 4 years. Sometime back one of thier representative called me and informed me that I got shortlisted for a merchandising offer of 30K. Doubting the interest rates and the way banks cheat its customers I told him NO many times. But he started calling me in a daily base and informed me clearly that there wont be any processing carge, no interest and no other hidden charges and I can repay the amount monthly with my other dues. When I enquired about the repayment scheme he told me that it will be there on the statements and I can pay the amounts with in the due date mentioned in the statement. I was feeling proud of SCB until the interest started reflecting in the statements. When I checked with the department, they were saying there were no interest for first 3 months and there after that scheme is in the interest ! I realised their cheating and was ready to close the account. I called up them again and found out the pending money and droped the cheque for entire amout before the due date. Next month again their statement came with the interest from last due date to this due date. When I checked for this they were telling its the interest accumulated from the last payment til this due date. So even if I pay the interest before current due date, next month again interest may come for the interest of one month.
I didnt know SCB has this much interest to cheat its customers. Now I am finding out the details to close my gold card itself.