creditguru
TF Buzz
- I applied for IndusInd credit card
- It was declined by the bank, no reason was provided
- I asked for the reason via email, they cited internal policies as the reason
- I sent them email with RBI circular advising to cite specific reason but they declined again
- Immediately raised complaint to RBIO
- 10k compensation was awarded
- Bank asked for account details and transferred the amount
Total time for the entire process - Around 2 months
Thank you @sjmajumder gurudev for being the guiding light.
I am in process of taking action against other banks too who provide no reason or vague reasons such as high number of active credit cards or pincode not serviceable (when they themselves didn't mentioned about it in eligibility or stopped at the application page itself or have actually provided credit cards in that area but declining those who do not have banking relationship with them).
Compensation does not hold importance for me but one thing that I have understood is to take strict action against these banks who are either mis-selling or hiding their specific eligibility criterias or using credit card applications as just data collection form.
- It was declined by the bank, no reason was provided
- I asked for the reason via email, they cited internal policies as the reason
- I sent them email with RBI circular advising to cite specific reason but they declined again
- Immediately raised complaint to RBIO
- 10k compensation was awarded
- Bank asked for account details and transferred the amount
Total time for the entire process - Around 2 months
Thank you @sjmajumder gurudev for being the guiding light.
I am in process of taking action against other banks too who provide no reason or vague reasons such as high number of active credit cards or pincode not serviceable (when they themselves didn't mentioned about it in eligibility or stopped at the application page itself or have actually provided credit cards in that area but declining those who do not have banking relationship with them).
Compensation does not hold importance for me but one thing that I have understood is to take strict action against these banks who are either mis-selling or hiding their specific eligibility criterias or using credit card applications as just data collection form.
