Issue with one card

[iampqq]

Bill generated amt 72k somthing and at last 1018 was pending maine dekha nhi
So due date was 7
And i paid on 12 1018
Now they have charged 2320+400 somthing gst as intrest on 1018

Gave explanation ki transaction date sa intrest lagega and much more
And khud sa hi bola 2k wapas kardenge

Still ye 720 lagya
1018 pe 70% intrest that to paid after 5 days .

What can I do?

 

[praful47]

Bill generated amt 72k somthing and at last 1018 was pending maine dekha nhi
So due date was 7
And i paid on 12 1018
Now they have charged 2320+400 somthing gst as intrest on 1018

Gave explanation ki transaction date sa intrest lagega and much more
And khud sa hi bola 2k wapas kardenge

Still ye 720 lagya
1018 pe 70% intrest that to paid after 5 days .

What can I do?

Interest total amount pe laga hai ....
2320+gst .
They are reversing 2k on what basis and why not 720 ?

 

[iampqq]

At the end of each day, the current balance/outstanding amount will be multiplied by the daily rate to arrive at the daily interest charges, which then get added to your outstanding balance. A simple formula would be as below: ((Number of days X Entire outstanding amount X (Interest rate per month x 12 months))/365 days



According to their formula which they told in email

 

[RAMESH BABU N]

For the rest of your life, PAY all bills - in full - at least a week before their due dates. No exceptions. No excuses.

That's what you should n must do.

 

[iampqq]

Chu***** bol rahe hai 25 ka 2700-2900 banta h 1018 due pe

2000 khud sa wapas diye but ku?
And ye 270% justified kaise h?

 

[iampqq]

For the rest of your life, PAY all bills - in full - at least a week before their due dates. No exceptions. No excuses.

That's what you should n must do.

It wasn't my cc
Frnd cc and he didn't did.
Money wasn't the issue.
He didn't check or told me that it is pending i would have instantly paid

 

[iampqq]

Sab thik hai
But ye crazy intrest charge kr rahe aur calculation dekho🤣

 

[bigbyte]

Aapne galti ki, aapka 2720 interest banta hai as per the Rules.

Aapke upar favour karke unhone 2000 reverse kiya and you need to pay the balance 720. It is not like that they are charging you 720 interest on 1018. Basically they provided you a partial waiver of interest.

Also if you don’t clear the bill in time it will be reflected in your credit score.

 

[iampqq]

Aapne galti ki, aapka 2720 interest banta hai as per the Rules.

Aapke upar favour karke unhone 2000 reverse kiya and you need to pay the balance 720. It is not like that they are charging you 720 interest on 1018. Basically they provided you a partial waiver of interest.

Also if you don’t clear the bill in time it will be reflected in your credit score.

Bhai 2720 on 1018 for 5-7 days is justified?

And 25 days bhi transaction ki date sa ho raha naki due date sa

 

[bigbyte]

Bhai 2720 on 1018 for 5-7 days is justified?

And 25 days bhi transaction ki date sa ho raha naki due date sa

Bhai, that’s what I have explained. Interest charged is on total amount of 72k+. They have done you a favour by partial waiver. Baaki aapki marzi.

 

[iampqq]

Bhai, that’s what I have explained. Interest charged is on total amount of 72k+. They have done you a favour by partial waiver. Baaki aapki marzi.

72k pe ku hoga? Jab 1018 pending tha

And unhone bhi bola h 1018 pe laga h

Unka formula dekh upar bheja hu

 

[bigbyte]

72k pe ku hoga? Jab 1018 pending tha

And unhone bhi bola h 1018 pe laga h

Unka formula dekh upar bheja hu

Bhai aap Credit card ke duniya mei naye ho kya? Check first reply to your post.

Also, unke formula bol ke jo aapne post kiya hai usmei bhi ek galti hai but rehne dau.

 

[Anil_Singh]

72k pe ku hoga? Jab 1018 pending tha

And unhone bhi bola h 1018 pe laga h

Unka formula dekh upar bheja hu

Download statement from app and check example in the last page for clarity.

 

[iampqq]

Bhai aap Credit card ke duniya mei naye ho kya? Check first reply to your post.

Also, unke formula bol ke jo aapne post kiya hai usmei bhi ek galti hai but rehne dau.

Roughly calculated h

 

[RAMESH BABU N]

Ask your friend to READ the terms n conditions of that Card. And, also the examples given in the monthly statements. You also read them.

All your doubts will be clarified.

 

[iampqq]

I accept as per tnc it's my mistake

But still they have me 2000
What if they didn't gave?
270% is justified by their formula?

 

[bigbyte]

Ek insaan ne kisi ko thappad mara aur gaali Dee.
Court ne usse 3 mahine kee kaid kee saja sunaayee.
Wo court ke saamne roye gidgidaaye, court ne uss par raham khaa ke thappad ka case drop Kiya aur saza 15 din kee kar dee.

Ab wo saare jamaane mei chillate phir raha hai kee gaali Dene ke liye 15 din kee saja justified hai kya.

Disclaimer: Iss kahani ka present case se koi sambandh nahin hai.
@Vasuki @RAMESH BABU N

 

[praful47]

Ek insaan ne kisi ko thappad mara aur gaali Dee.
Court ne usse 3 mahine kee kaid kee saja sunaayee.
Wo court ke saamne roye gidgidaaye, court ne uss par raham khaa ke thappad ka case drop Kiya aur saza 15 din kee kar dee.

Ab wo saare jamaane mei chillate phir raha hai kee gaali Dene ke liye 15 din kee saja justified hai kya.

Disclaimer: Iss kahani ka present case se koi sambandh nahin hai.
@Vasuki @RAMESH BABU N

Thapaad khane Wale ne ye dekh kar judge ko bolkar harrasment aur attempt to murder ka bhi case dal diye .

Ab mujrim ko ummar kaid ki saja .

"Card closed and blacklisted"

 

[Vasuki]

Bill generated amt 72k somthing and at last 1018 was pending maine dekha nhi
So due date was 7
And i paid on 12 1018
Now they have charged 2320+400 somthing gst as intrest on 1018

Gave explanation ki transaction date sa intrest lagega and much more
And khud sa hi bola 2k wapas kardenge

Still ye 720 lagya
1018 pe 70% intrest that to paid after 5 days .

What can I do?

First ..
Pay it make everything zero then fight ..

 

[STONE_MAN]

Let me clear few things to you.

Banks always charge interest on total amount due, not just on the balance that is left to be paid.

And the funny part is you have agreed to all of this when you applied for the card.

Let's just forget for a second that you have been charged 270% interest because you got confused with the calculation.

Credit cards charge around 52% interest in general.

Is this justified?

No, not at all. 52% interest is way too much and on the top of that they charge penalty and other things as well.

This is not justifiable, neither the 270% interest that has been charged to you.

But then comes the question, so what. Even if it's not justifiable so what?

Nothing more then just sharing bad experience here on TF. Banks don't care about what you think is justifiable or not. If it's profitable for them and if RBI allows them, then they will do it.

And RBI allows them to charge interest on total amount due instead of just charging it on unpaid amount.

People will even say that 9-10% interest on home loan is not justifiable, bank should charge 4-5%,. But banks don't care about what you think.

Now coming to the point why they refunded you 2k.

That's their goodwill gesture and a way to retain customer, legally and morally they are not bound to refund you anything as they have clearly mentioned everything in their bills and website t&c, that generally we don't read.

Why just 2k? They even want to make some profit, loan business depends a lot on defaulters. But you can try more, call them again don't show anger to them, request them to waive complete amount as a one time exception. If customer support don't help. Then email to nodal officer and request them to waive it off, they might will do it after looking at your profile, but if you will show anger then they are not gonna help you, as charges are valid and justifiable according to them.


If I would have been at your place, I would have reacted the same. Make sure to manage loans and cards properly in future, take this as a lesson.

I am not here to curse you, I am just sharing how the system works. Personally, I even want these credit card goons to be more lenient and show some mercy.