BOB Credit Card Payment showed successfull on Cred for 6 days and then it failed and reverted back leading to delay of 3 days in payment.

[papimann]

BOB Credit Card Payment showed successful on Cred for 6 days and then it failed and reverted back leading to delay of 3 days in payment after due date. So will it be considered timely payment as 3 days grace is not lapsed or late payment will be charged.

 

[_amit_]

Technically you can not be charged lay payment and past due will not be marked, as per RBI rule

But its BoB so do watch out.
Email them about this and get confirmation.

 

[guest_123]

Technically you can not be charged lay payment and past due will not be marked, as per RBI rule

But its BoB so do watch out.
Email them about this and get confirmation.

You think very highly of them, BoB didn't even let go of interest charge & late payment on a 50 paisa total due amt bill as I have seen once on a thread on DD.

 

[_amit_]

You think very highly of them, BoB didn't even let go of interest charge & late payment on a 50 paisa total due amt bill as I have seen once on a thread on DD.

I do not think anything about any financial institution, that's why I mentioned "technically" what should be and asked OP to confirm with BoB

I am not aware of 50p case, but if that 50p was after 3 days grace period, customer can not even fight legally and can only request. Its upto BoB to accept it or not.

But, in this scenario, assuming OP is correct in the calculation of 3 days, he can fight legally and drag BoB to RBI if they do not comply.

 

[guest_123]

I do not think anything about any financial institution, that's why I mentioned "technically" what should be and asked OP to confirm with BoB

I am not aware of 50p case, but if that 50p was after 3 days grace period, customer can not even fight legally and can only request. Its upto BoB to accept it or not.

But, in this scenario, assuming OP is correct in the calculation of 3 days, he can fight legally and drag BoB to RBI if they do not comply.

You are correct it is up to BoB but the point was BoB has shitty policies because even sbi card let go of total due amt of few rupees & doesn't consider it as payable in that statement by mentioning min due amt as zero so it gets carried forward to next statement with zero interest & late payment charges. Op is saying 3 days but who knows BoB may say that op payment acknowledgement reached them 10 seconds after 72 hours starting from the exact time in hour min seconds at which statement was delivered to op's email so technically not within 3 days grace period. I hope you get my point.

 

[_amit_]

You are correct it is up to BoB but the point was BoB has shitty policies because even sbi card let go of total due amt of few rupees & doesn't consider it as payable in that statement by mentioning min due amt as zero so it gets carried forward to next statement with zero interest & late payment charges. Op is saying 3 days but who knows BoB may say that op payment acknowledgement reached them 10 seconds after 72 hours starting from the exact time in hour min seconds at which statement was delivered to op's email so technically not within 3 days grace period. I hope you get my point.

I understood your point.
The only thing being, one can not have a legal fight on moral ground with a financial institution.
Because then it would be a request and not a legal case as it is all about technicality. Though it may also depend on the "judge" whether to consider that technicality or not.

Otherwise, instead of BoB, one can also question customer and Cred as to:
- Why was the customer waiting for 6 days when most transactions settle within minutes and is shown in unsettled transactions in the app.
- Why cred failed to work in expected way and reverted the transaction. Cred is promoting its platform to provide a service and failure to do so must be dealt with legally. Simply saying a technical issue also does not grant Cred a way out.

Your concern is well put and right, and in this forum, everyone is willing to help for consumer rights anyway possible.