I am having credit card account with SBI since last 5 years and I am not using that credit card much, When I got this card I was told that this is free for life, but still I was getting early charges every year and later after talking to customer services they clear them.
But this time SBI took little time to clear the yearly charges and meanwhile it got reflected in monthly statement, but just next day after statement generate date they clear the charges, but due to statement generation it counted 15 rupees interest on that amount, as I was not using this card regularly so I did not came to know about this amount and also for this small amount SBI did not generate any statement,
But after some time my DB card application got rejected when I enquire DB and CIBIL came to know that it was rejected due to 15 rupees balance on SBI card, SBI agreed that this is their system mistake and they delayed the reversal and due to this it reflected in my account and they promised me that it will be sort it out in next 4 days and also they will clear CIBIL status in the same duration.
After 4 days SBI sent me email that they cleared that outstanding amount, which occur due to their mistake but they never confirmed the when it will be updated in cibil. till date not done.
Impact of this small mistake of SBI .
*I was in the process of purchasing my dream house and when I contacted one of the leading bank for loan they rejected my application even after very good relation and having cooperate salary account in that bank since last 4 years, just for this 15 rupees mistake of SBI.
I tried one more bank after a week and they also got the same status from CIBIL and rejected my application. It already took lot of time and meanwhile the day for final payment for the home came and I could not get loan approved from leading banks and now I have to pay huge interest to builder for delaying the final payment or if this issue is not sorted out may loose that dream house.
RBI please put pressure on these banks who sent wrong information to CIBIL or not re-update the customer record after settlement .
Banks should inform / Involve customers before sending such lists to cibil, if customer not respond or don’t do settlement then they are free to hit CIBIL database.
This all process is only in banks hand and customer can’t do anything except crying or loosing their lifes.
Friends: I decided to close all card acconts and want to recommends you all don’t go for credit card, if you even not use still it can hurt you. If anything happen wrong whatever amount, you can’t do anything except crying or writing like me on different website
You all can share you experience here, let’s save others from the CIBIL and bank mistakes.