Unjust Late Fee & Incorrect Charges on My Indian Bank Credit Card – Need immediet help

[itsme.sumit]

Despite paying my Indian Bank credit card bill in full on Feb 7th, within the grace period (the due date was February 4th), they imposed over 100 rupees in interest plus GST. This interest was billed in February, and I ignored it and the emails. I reviewed my account on March 10th, discovering another late fee plus GST because the next due date was May 4th. I immediately paid and emailed for clarification for the sake of.my cibil score. They replied quickly, initially claiming my February payment was late, even though the next statement showed full payment on March 7th. I sent them proof of payment within the grace period, but they said the RBI allows them to charge interest. I usually pay within the grace period, and no other bank has done this. I've attached their response; I'm confused.

Please ignore that immediate spelling.😅😅

 

[theflash]

full on March 7th, within the grace period (the due date was February 4th),

Wait a min isn't the grace period of 3 days?

 

[itsme.sumit]

Wait a min isn't the grace period of 3 days?

That is what i was aware of, i dont know what they are talking is a complete bs or not. Also i can not reply on chatgpt's reponses because most of them are completely misleading(according to my personal experience)

 

[Strange]

Despite paying my Indian Bank credit card bill in full on March 7th, within the grace period (the due date was February 4th), they imposed over 100 rupees in interest plus GST. This interest was billed in February, and I ignored it and the emails. I reviewed my account on March 10th, discovering another late fee plus GST because the next due date was May 4th. I immediately paid and emailed for clarification for the sake of.my cibil score. They replied quickly, initially claiming my February payment was late, even though the next statement showed full payment on March 7th. I sent them proof of payment within the grace period, but they said the RBI allows them to charge interest. I usually pay within the grace period, and no other bank has done this. I've attached their response; I'm confused.

Have they reported late payment in your CIBIL?

 

[Raavan]

Despite paying my Indian Bank credit card bill in full on March 7th, within the grace period (the due date was February 4th), they imposed over 100 rupees in interest plus GST. This interest was billed in February, and I ignored it and the emails. I reviewed my account on March 10th, discovering another late fee plus GST because the next due date was May 4th. I immediately paid and emailed for clarification for the sake of.my cibil score. They replied quickly, initially claiming my February payment was late, even though the next statement showed full payment on March 7th. I sent them proof of payment within the grace period, but they said the RBI allows them to charge interest. I usually pay within the grace period, and no other bank has done this. I've attached their response; I'm confused.

You need to clarify the dates
You mixed up February, March.
Due date was February 4th you paid in full on march 7th.

I'm confused.

Same here

 

[Aniket]

Sahi hai sahi hai, ofc charges! 🙂

 

[itsme.sumit]

Have they reported late payment in your CIBIL?

Not right now, but I can't say for sure because I genuinely missed it. SBI reported two late payments on my father's CIBIL record, even though the payment was made immediately after the day following the grace period's end. I missed those 2 because i was ill.

 

[itsme.sumit]

You need to clarify the dates
You mixed up February, March.
Due date was February 4th you paid in full on march 7th.


Same here

My bad, really sorry about that. I have rectified the dates..

 

[itsme.sumit]

Sahi hai sahi hai, ofc charges! 🙂

Does this mean they can impose interest, even if full payment is made within the grace period?

 

[Raavan]

As per RBI guidelines
Card-issuers shall report a credit card account as 'past due' to credit information companies (CICs) or levy penal charges, viz. late payment charges and other related charges, if any, only when a credit card account remains 'past due' for more than three days.


So this means penal charges only, interest is not a penalty imo
Others may put in their input.

 

[itsme.sumit]

As per RBI guidelines
Card-issuers shall report a credit card account as 'past due' to credit information companies (CICs) or levy penal charges, viz. late payment charges and other related charges, if any, only when a credit card account remains 'past due' for more than three days.


So this means penal charges only, interest is not a penalty imo
Others may put in their input.

So they did the wrong thing?

 

[Aniket]

My bad, really sorry about that. I have rectified the dates..

Not right now, but I can't say for sure because I genuinely missed it. SBI reported two late payments on my father's CIBIL record, even though the payment was made immediately after the day following the grace period's end. I missed those 2 because i was ill.

I usually pay within the grace period, and no other bank has done this.

Past mein bhi aapke jaise kuch manubhav the jo chillar banane ke chakar mein grace period mein pay karte the...

Kuch bolunga (bitter truth)
to vivaad ho jayega, that's why I am out! Mood aur time dono nahi hai 🙂