Kotak League Platinum VISA LTF Card Converted to Paid after sending Notification

[vip3rc5]

I have Kotak League Platinum Card with limit of 5 Lakhs which was issued to me as LTF Card back in Oct 2021
I confirmed the LTF Status from them in email as well
Recently I received mail about converting my card to paid variant with a fees of 499 + GST each year

I have emailed them once and they told me that it was their decision to convert my card to paid
I regularly use my card (My netflix subscription is auto deducted using my Kotak Card along with regular usage for offers)
My question is when new cards are being issued LTF, why did they changed mine to Paid
They also told me that the card cannot be converted back to LTF. It's one of oldest card so I don't want to upright close it

What should I do in this case? Thoughts? Should I follow up with Nodal Officer or straightforward raise complain through RBI Ombudsman

I have already paid the annual fees

 

[D₹V]

I have Kotak League Platinum Card with limit of 5 Lakhs which was issued to me as LTF Card back in Oct 2021
I confirmed the LTF Status from them in email as well
Recently I received mail about converting my card to paid variant with a fees of 499 + GST each year

I have emailed them once and they told me that it was their decision to convert my card to paid
I regularly use my card (My netflix subscription is auto deducted using my Kotak Card along with regular usage for offers)
My question is when new cards are being issued LTF, why did they changed mine to Paid
They also told me that the card cannot be converted back to LTF. It's one of oldest card so I don't want to upright close it

What should I do in this case? Thoughts? Should I follow up with Nodal Officer or straightforward raise complain through RBI Ombudsman

I have already paid the annual fees

E-mail to Kotak nodal about it, with proof.

They can't change to to priced card later.

If they don't obey, do complaint in RBI ombudsman.

 

[Deleted member 21942]

As far as I know without customer's consent no bank can change LTF card to a priced card as it is against RBI rules. I am not sure about the rules but I read it somewhere.

 

[misteramit]

This is some serious issue, do give follow up updates and make sure to complaint to RBI ombudsman if not resolved and refunded annual fees, u got official mail as proof

 

[Aniket]

I have Kotak League Platinum Card with limit of 5 Lakhs which was issued to me as LTF Card back in Oct 2021
I confirmed the LTF Status from them in email as well
Recently I received mail about converting my card to paid variant with a fees of 499 + GST each year

I have emailed them once and they told me that it was their decision to convert my card to paid
I regularly use my card (My netflix subscription is auto deducted using my Kotak Card along with regular usage for offers)
My question is when new cards are being issued LTF, why did they changed mine to Paid
They also told me that the card cannot be converted back to LTF. It's one of oldest card so I don't want to upright close it

What should I do in this case? Thoughts? Should I follow up with Nodal Officer or straightforward raise complain through RBI Ombudsman

I have already paid the annual fees

@vip3rc5 bro kindly give an update about your matter?

 

[vip3rc5]

@vip3rc5 bro kindly give an update about your matter?

Never received an official update after I complained to Nodal Officer. But the charges have been reverted. I didn't enquire any further

 

[Aniket]

Never received an official update after I complained to Nodal Officer. But the charges have been reverted. I didn't enquire any further

Hope you don't have to fight again for reversal, in my view, it would be better to fight with the bank to update in the system as well as LTF, so that you will get long term peace instead short term for 1 yr.