Yes bank Gold X Credit Card from UNI scams!

[chnleo]

I had applied this card in the month of August and I received it with 4L limit, which i considered it as peanuts! But still held on due to forex 0 charges. Used it in couple of countries and it worked well.

Recently I paid off the entire amount pending. But I paid some amount after 4 days of billing date. I received an interest of 4.5k for 40k for just 4 days!!!! Even Axis or Hdfc consider but the yes bank customer care were adamant to reverse the amount. I paid the amount and canceled the card immediately. Kindly be aware of such looting by these low class banks! Go for better banks. Gold X concept is a total scam and nonsense too. Avoid this card!

 

[sovon]

Bro correct the thread name

 

[CJ007]

Interest is charged from the date of each transaction, not just from the due date. Anyway, mail them again care@uni.club, asking for the exact calculation. Read terms and conditions properly before saying it's scam

 

[theflash]

Interest is charged from the date of each transaction, not just from the due date. Anyway, mail them again care@uni.club, asking for the exact calculation. Read terms and conditions properly before saying it's scam

That's there but the banks charge interest on whole amount and not the due for late payment.

 

[CJ007]

That's there but the banks charge interest on whole amount and not the due for late payment.

That's the grey area. S[He] can take this to RBI.
But if you don’t pay your full outstanding amount by the due date, then banks will usually charge interest, but not just on the unpaid (due) amount, they can charge interest on the entire outstanding balance.
Also Annualized Percentage Rate 47.88% is pretty high on my Bob Uni card.

 

[CJ007]

I gave the scenario to advanced AI (not ChatGPT), and the response I got :

• Statement generated 1 Aug, payment-due date 21 Aug.
• He paid only on 25 Aug (4 days late) but the entire ₹40 k was revolving from the individual purchase dates (say 1 Jul–15 Jul).
• YES Bank Uni card APR = 42 % (3.5 % pm) → daily rate ≈ 0.115 %.
• Rough interest for 30-55 days on ₹40 k ≈ ₹ 4,300 – ₹ 5,000.
  Hence the ₹4.5 k debit is arithmetically correct, not a scam or a bank “loot”.

 

[RAMESH BABU N]

You applied n got the card.
You used it extensively.
You paid the bill - but late.
They charged interest for delayed payment.
You paid n closed the card.

So, WHY N WHERE IS SCAM ?

Avoid using such words loosely.

 

[ali4u]

You applied n got the card.
You used it extensively.
You paid the bill - but late.
They charged interest for delayed payment.
You paid n closed the card.

So, WHY N WHERE IS SCAM ?

Avoid using such words loosely.

Actually he want free hand on his credit card, he want to do what he want , doesn't want what bank has to do ? Not paying on the due date is not his fault 😆😆

 

[akshayhs]

 

[iSayyed]

View attachment 113245

Remove "technofino", add "Reddit", that would be more apt n perfect!

Here, there are a few, but they will learn hopefully, but no hope with the Reddit crowd

 

[sunit123]

I had applied this card in the month of August and I received it with 4L limit, which i considered it as peanuts! But still held on due to forex 0 charges. Used it in couple of countries and it worked well.

Recently I paid off the entire amount pending. But I paid some amount after 4 days of billing date. I received an interest of 4.5k for 40k for just 4 days!!!! Even Axis or Hdfc consider but the yes bank customer care were adamant to reverse the amount. I paid the amount and canceled the card immediately. Kindly be aware of such looting by these low class banks! Go for better banks. Gold X concept is a total scam and nonsense too. Avoid this card!

Read MITC. They charged correctly....If you do not pay bill on time then it is your fault.