CCnerd10
TF Buzz
As the article suggests. I had an Amex Gold Charge Card and Platinum Travel credit card which i closed on 1/10/24 and 3/10/24 respectively. Annual fees were posted in both my cards and since I didn’t want to continue the cards so I requested cancellation. I hd cleared all my dues apart from Annual fee and GST on both cards.
The representatives in Amex Live chat confirmed the card cancellation and on inquiring about the annual fee, they said that annual fee and it’s associated GST will be reversed and adjusted against your card in a few days.
Both the cards were showing in the app as “cancelled with outstanding amount due”
Fast forward to 14/10/24. I get statement on mail and message for both these closed cards. To my surprise the annual fee on both cards were not reversed and the statement was generated. On gold charge card only annual fee and GST was showing outstanding whereas on Platinum Travel Late Payment Fee and also finance charges along with associated GST was posted.
Reached out to Amex and explained my concerns via Live chat. The agent in chat accepted the mistake at Amex’s end. Got a case id. With reference to that case id i wrote a mail to Amex Nodal desk stating my concern in detail along with screenshots of amex live chat while placing cancellation request for both cards in a proper pdf document form. In the mail i told Amex that I anticipate three things.
1. Clearing all the charges on the card and bring balance to NIL
2. Since there is overdue on both the cards, if Amex further reported it as overdue to the credit bureaus, I anticipate that it shall be rectified.
3. Since card closure was not processed within the regulatory guideline which sates closure should be honoured within 7 working days. I anticipate compensation as per RBI master directions.
Amex cleared all dues on Gold Charge card on 15/10/24 but charges on Platinum Travel was only brought to NIL on 29/10/24 after multiple interventions on my end, CS kept saying charges have been reversed on PT and that i need to wait 24-48 hours for it to reflect. Later when i insisted on checking why is the reversal not posting in my card account when it has been reversed, an agent checked throughly and informed that charges were on hold all this time and needed manual approval.
On 28/10/24 since i had still not heard back from nodal desk i reached out to them. This time i had checked my Experian and CIBIL reports which showed overdue reporting by Amex on both cards on 14/10/24. Attached the credit report and asked Amex to rectify the errors in all credit bureaus by 14/11/24.
On 1/11/24 Amex reached out via mail accepting the mistake on their end and confirmed that they have reversed all charges and brought balance on both cards to NIL and are working to rectify the wrong reporting in credit reports and shall update by 8/11/24 but denied delay in cancellation of card. They say the card was canceled within 7 days and only reversal of charges was not done on time.
I presented my case to Amex again via mail on 4/11/24 wherein i raised questions on their claim of card cancellation was processed 7 working days. I put forward the argument that card closure is not exclusive to blocking the card encompasses a broader meaning, like reversal of all charges on card not owed by the card holder, bring card balance to NIL, ensuring these reversals are done on time to ensure not overdue is reported and in the event that a reporting to bureaus is done post card cancellation, the card shall not be reported as “Active”. Since Amex only blocked the card but failed to reverse the charges and also reported the card as “Active” in credit reports on 14/10/24 which is after the cancellation of cards as claimed by Amex hence delay was caused as per regulatory guidelines and that they are liable to pay a compensation until they rectify the error of reporting cards as “Active”
On 7/11/24 Amex replied taking a stand that the card was indeed canceled on 1/11/24 and 3/11/24 and that i they want me to send them reports wherein the card has been reported as “Active”. Further they denied any compensation as per them card was closed on time but offered 5000 MR points as gesture.
I checked my credit reports. In CIBIL and CRIF both cards are still showing “Active” and overdue reported on 14/10/24. In Experian and Equifax they rectified overdue error for Gold Charge but not for Platinum Travel Card and both cards are being reported as “Active” still as on 14/10/24. So basically they haven’t rectified the credit reports and surprisingly are so negligent that didn’t even touch upon this concern in the mail.
Ik i will be eligible for compensation for wrong reporting if they don’t rectify the error within 30 days on registering my concern.
I wanted to ask you all that am i eligible for a compensation in my case for delay in card closure or not. Since the charges were also reversed later and also the statement was generated and mostly importantly card were reported “Active” after the cancellation and still remain reported as “Active”.
The representatives in Amex Live chat confirmed the card cancellation and on inquiring about the annual fee, they said that annual fee and it’s associated GST will be reversed and adjusted against your card in a few days.
Both the cards were showing in the app as “cancelled with outstanding amount due”
Fast forward to 14/10/24. I get statement on mail and message for both these closed cards. To my surprise the annual fee on both cards were not reversed and the statement was generated. On gold charge card only annual fee and GST was showing outstanding whereas on Platinum Travel Late Payment Fee and also finance charges along with associated GST was posted.
Reached out to Amex and explained my concerns via Live chat. The agent in chat accepted the mistake at Amex’s end. Got a case id. With reference to that case id i wrote a mail to Amex Nodal desk stating my concern in detail along with screenshots of amex live chat while placing cancellation request for both cards in a proper pdf document form. In the mail i told Amex that I anticipate three things.
1. Clearing all the charges on the card and bring balance to NIL
2. Since there is overdue on both the cards, if Amex further reported it as overdue to the credit bureaus, I anticipate that it shall be rectified.
3. Since card closure was not processed within the regulatory guideline which sates closure should be honoured within 7 working days. I anticipate compensation as per RBI master directions.
Amex cleared all dues on Gold Charge card on 15/10/24 but charges on Platinum Travel was only brought to NIL on 29/10/24 after multiple interventions on my end, CS kept saying charges have been reversed on PT and that i need to wait 24-48 hours for it to reflect. Later when i insisted on checking why is the reversal not posting in my card account when it has been reversed, an agent checked throughly and informed that charges were on hold all this time and needed manual approval.
On 28/10/24 since i had still not heard back from nodal desk i reached out to them. This time i had checked my Experian and CIBIL reports which showed overdue reporting by Amex on both cards on 14/10/24. Attached the credit report and asked Amex to rectify the errors in all credit bureaus by 14/11/24.
On 1/11/24 Amex reached out via mail accepting the mistake on their end and confirmed that they have reversed all charges and brought balance on both cards to NIL and are working to rectify the wrong reporting in credit reports and shall update by 8/11/24 but denied delay in cancellation of card. They say the card was canceled within 7 days and only reversal of charges was not done on time.
I presented my case to Amex again via mail on 4/11/24 wherein i raised questions on their claim of card cancellation was processed 7 working days. I put forward the argument that card closure is not exclusive to blocking the card encompasses a broader meaning, like reversal of all charges on card not owed by the card holder, bring card balance to NIL, ensuring these reversals are done on time to ensure not overdue is reported and in the event that a reporting to bureaus is done post card cancellation, the card shall not be reported as “Active”. Since Amex only blocked the card but failed to reverse the charges and also reported the card as “Active” in credit reports on 14/10/24 which is after the cancellation of cards as claimed by Amex hence delay was caused as per regulatory guidelines and that they are liable to pay a compensation until they rectify the error of reporting cards as “Active”
On 7/11/24 Amex replied taking a stand that the card was indeed canceled on 1/11/24 and 3/11/24 and that i they want me to send them reports wherein the card has been reported as “Active”. Further they denied any compensation as per them card was closed on time but offered 5000 MR points as gesture.
I checked my credit reports. In CIBIL and CRIF both cards are still showing “Active” and overdue reported on 14/10/24. In Experian and Equifax they rectified overdue error for Gold Charge but not for Platinum Travel Card and both cards are being reported as “Active” still as on 14/10/24. So basically they haven’t rectified the credit reports and surprisingly are so negligent that didn’t even touch upon this concern in the mail.
Ik i will be eligible for compensation for wrong reporting if they don’t rectify the error within 30 days on registering my concern.
I wanted to ask you all that am i eligible for a compensation in my case for delay in card closure or not. Since the charges were also reversed later and also the statement was generated and mostly importantly card were reported “Active” after the cancellation and still remain reported as “Active”.
