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Background
AU Small Finance Bank has this program called SwipeUp Credit Card Upgrade Platform which they advertise here:
Here are some snippets of their advertisement on their landing page:
Misleading Promises and Unethical Practices
Isn't it tempting? They promise a lifetime free card, a higher credit limit, and a straightforward 3-step process. All you need to do is enter the first 6 digits of your other bank's credit card, and you'll have the chance to compare their offerings before deciding to apply.
Deceptive Reality
Well, guess what? It's not that simple. Despite the enticing ads that lead you to believe you can evaluate their options and then decide to apply, the reality is different. They process this as a full-on application, checking your CIBIL report along the way. This setup forces you down a path where it's hard to turn back due to their process design. You thought you were comparing, but they treat it like you're already in the application process, even though their ads don't mention this aspect.
What's even more frustrating is that nowhere on their SwipeUp page, including FAQs and Terms & Conditions (See attached PDF), do they mention that hitting your credit bureau is a requirement, or that they'll access it. I've scoured these sections multiple times, and there's zero mention of this crucial detail.
My Unintentional Journey
So, what did I do? Based on the info I saw on their landing page, FAQs, and terms, I thought I was still in the evaluation phase. I believed I could decide to apply only if I found something appealing. But to my shock, they went ahead and checked my CIBIL report without asking for my explicit consent.
Technical Glitch and Unmet Expectations
Furthermore, their website experiences a technical glitch that redirects the entire process into a standard application route, rather than the intended path of the SwipeUp program (or so they state). Throughout the process, I was never prompted to provide the first 6 digits of my other bank's credit card. Instead, the process continuously requested complex and unrelated information, eventually leading to a card selection page displaying cards with charges – a far cry from the advertised and promised offerings.
Support's Response
When I raised this concern with their support team, they advised me to ask for the removal of the application and try again from the same page. However, they informed me that they wouldn't be able to remove the CIBIL enquiry that was conducted without my consent or knowledge.
Deeper Concerns
Now, here's the issue: the hard enquiry itself isn't my main concern, as a single additional hard enquiry won't significantly impact my credit history. My real concern is how their misleading advertising is negatively affecting everyone's credit reports. On top of that, their technical glitch remains unresolved. Instead of addressing it properly, they casually suggest requesting application removal and retrying. And here's the kicker: retrying will result in another hit to the CIBIL report.
Taking a Stand
I believe it's crucial to address this situation, not just for myself but for the benefit of others as well. My aim is to encourage transparency, responsibility, and ethical practices. Despite my attempts to convey my concerns to their Level 1 support, I've received only generic responses. As my next step, I've already reached out to their CC head and PNO, providing them with a detailed account of what transpired and my requests.
Future Actions
If they acknowledge the issue, rectify the unauthorized credit enquiry, and address the problem, then I might not need to escalate this to the B.O. (Banking Ombudsman). However, if they persist in denying the problem, my next course of action will involve lodging a formal complaint with the B.O.
Understanding and Ethics
I fully understand and respect the process of applying for a credit card, with the understanding that a credit report enquiry is part of the approval process. In this case, the situation is different – it wasn't my intention to apply, but rather to compare and then make an informed decision as advertised. The way they processed my request feels unethical and unjust.
If you want to support the fight, you can please retweet, comment, and mention the bank handle on X (@aubankindia).
We need to take a stand together. We all be silent or let go, this bank and many like these will continue to damage our reports and practise unethical stuff. Who's losing at the end? It's us. Our credit report is getting damaged, not theirs. So they enjoy this privilege while we suffer.
Here's the Post/Tweet:
The bank continues to neglect and the new discovery is made of them violating FPC guidelines by RBI.
You can read more about this in detailed thread here (Please RT/Like/Comment):
AU Small Finance Bank has this program called SwipeUp Credit Card Upgrade Platform which they advertise here:
Here are some snippets of their advertisement on their landing page:
Misleading Promises and Unethical Practices
Isn't it tempting? They promise a lifetime free card, a higher credit limit, and a straightforward 3-step process. All you need to do is enter the first 6 digits of your other bank's credit card, and you'll have the chance to compare their offerings before deciding to apply.
Deceptive Reality
Well, guess what? It's not that simple. Despite the enticing ads that lead you to believe you can evaluate their options and then decide to apply, the reality is different. They process this as a full-on application, checking your CIBIL report along the way. This setup forces you down a path where it's hard to turn back due to their process design. You thought you were comparing, but they treat it like you're already in the application process, even though their ads don't mention this aspect.
What's even more frustrating is that nowhere on their SwipeUp page, including FAQs and Terms & Conditions (See attached PDF), do they mention that hitting your credit bureau is a requirement, or that they'll access it. I've scoured these sections multiple times, and there's zero mention of this crucial detail.
My Unintentional Journey
So, what did I do? Based on the info I saw on their landing page, FAQs, and terms, I thought I was still in the evaluation phase. I believed I could decide to apply only if I found something appealing. But to my shock, they went ahead and checked my CIBIL report without asking for my explicit consent.
Technical Glitch and Unmet Expectations
Furthermore, their website experiences a technical glitch that redirects the entire process into a standard application route, rather than the intended path of the SwipeUp program (or so they state). Throughout the process, I was never prompted to provide the first 6 digits of my other bank's credit card. Instead, the process continuously requested complex and unrelated information, eventually leading to a card selection page displaying cards with charges – a far cry from the advertised and promised offerings.
Support's Response
When I raised this concern with their support team, they advised me to ask for the removal of the application and try again from the same page. However, they informed me that they wouldn't be able to remove the CIBIL enquiry that was conducted without my consent or knowledge.
Deeper Concerns
Now, here's the issue: the hard enquiry itself isn't my main concern, as a single additional hard enquiry won't significantly impact my credit history. My real concern is how their misleading advertising is negatively affecting everyone's credit reports. On top of that, their technical glitch remains unresolved. Instead of addressing it properly, they casually suggest requesting application removal and retrying. And here's the kicker: retrying will result in another hit to the CIBIL report.
Taking a Stand
I believe it's crucial to address this situation, not just for myself but for the benefit of others as well. My aim is to encourage transparency, responsibility, and ethical practices. Despite my attempts to convey my concerns to their Level 1 support, I've received only generic responses. As my next step, I've already reached out to their CC head and PNO, providing them with a detailed account of what transpired and my requests.
Future Actions
If they acknowledge the issue, rectify the unauthorized credit enquiry, and address the problem, then I might not need to escalate this to the B.O. (Banking Ombudsman). However, if they persist in denying the problem, my next course of action will involve lodging a formal complaint with the B.O.
Understanding and Ethics
I fully understand and respect the process of applying for a credit card, with the understanding that a credit report enquiry is part of the approval process. In this case, the situation is different – it wasn't my intention to apply, but rather to compare and then make an informed decision as advertised. The way they processed my request feels unethical and unjust.
UPDATE: 13 Sep, 2023
The Fight is ON. The PNO doesn't want to acknowledge the concerns and continues to deliberately ignore and shift the blame on to me but I'm not going to back off so easily. I've gone ahead and filed a formal complaint to RBI B.O. and while that case is going on, I want you to come forward and help me with this fight. It's not just about my credit report, it's about each one of us and how this bank is casually damaging the reports and continues to dupe prospective customers.If you want to support the fight, you can please retweet, comment, and mention the bank handle on X (@aubankindia).
We need to take a stand together. We all be silent or let go, this bank and many like these will continue to damage our reports and practise unethical stuff. Who's losing at the end? It's us. Our credit report is getting damaged, not theirs. So they enjoy this privilege while we suffer.
Here's the Post/Tweet:
Update: 20 Sep, 2023
The bank continues to neglect and the new discovery is made of them violating FPC guidelines by RBI.
You can read more about this in detailed thread here (Please RT/Like/Comment):
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