What are the finance charges for amount under 100?

[Pankhuri]

My friend made some calculation error and ended up paying 80 rupees less than the due amount on her simplysave credit card. Today she received next statement and got 4.5k worth of finance charges. She contacted CC but they said that since the statement was generated on 20th, 24hrs haven't passed so they can't raise the request for reversal of these charges. She was advised to call tomorrow. So wanted to know what are RBI guidelines regarding such small payment dues? Her total bill was over 50k.

 

[VISHESH_BANSAL]

Usne khud calculate hi kyu kiya ?

Statement se dekh kr bharna hota h bill

Khud se count krke thode hi bill bhara jata h

When you do Partial repayments to loot some offer, this Happens😂

Abb itni repayment kardi, ab itna bach gaya due, ho gaya error lag gaye L..😂

 

[Pankhuri]

Usne khud calculate hi kyu kiya ?

Statement se dekh kr bharna hota h bill

Khud se count krke thode hi bill bhara jata h

No idea. I didn't ask. From her dec statement I can see that she made 2 payments on 2 separate days. So maybe made a mistake in that.

 

[Walter White]

When you do Partial repayments to loot some offer, this Happens😂

Abb itni repayment kardi, ab itna bach gaya due, ho gaya error laga gaye L..😂

Jab 30-35 credit card rakhte ho, bahut high probability hoti hai kuch miss ho jaaye.

 

[Shubham Yadav]

No idea. I didn't ask. From her dec statement I can see that she made 2 payments on 2 separate days. So maybe made a mistake in that.

I would say ask her and see whats a actually matter than truth can be find otherwise

Bansal bro is right ✅️ partial payment issue

 

[Pankhuri]

When you do Partial repayments to loot some offer, this Happens

Probably this happened. She used paytm twice. Also the payments are weird, not rounded off kind. Alas, looks like it would cost her 5k. Unless SBI shows some leniency.

 

[Shubham Yadav]

Jab 30-35 credit card rakhte ho, bahut high probability hoti hai kuch miss ho jaaye.

Vo toh human error bhi count ho sakta h

Lekin khud se hi count ka system

 

[VISHESH_BANSAL]

I would say ask her and see whats a actually matter than truth can be find otherwise

Bansal bro is right ✅️ partial payment issue

That is why I always generate the Statement in Round figure and in Multiples of Rs.100 and Always Make Repayments in Multiple of Rs.100 to loot offers😂

Multiples of 100 m hoga sab to errorless hoga 🤣

 

[Pankhuri]

I would say ask her and see whats a actually matter than truth can be find otherwise

Will try, just don't want to be nosy. But most probable is that someone used her card for buying something and paid back their share and she paid back her share and someone made the mistake in that. Or As Bansal bhai said, was trying to loot some offer on debit card or credit card payment and ended up at this.

 

[Walter White]

That is why I always generate the Statement in Round figure and in Multiples of Rs.100 and Always Make Repayments in Multiple of Rs.100 to loot offers😂

Multiples of 100 m hoga sab to errorless hoga 🤣

Isliye BBPS accha hai....last decimal tak payment jaata hai

 

[Shubham Yadav]

Will try, just don't want to be nosy. But most probable is that someone used her card for buying something and paid back their share and she paid back her share and made the mistake in that. Or As Bansal bhai said, was trying to loot some offer on debit card or credit card payment and ended up at this.

Are koi kahi se payment kare idhar se ya udhar

Apni friend se bus ye pucho ki

Statement dekh kr payment kyu nhi ki ?

Fir pura matter batao bro

 

[Shubham Yadav]

That is why I always generate the Statement in Round figure and in Multiples of Rs.100 and Always Make Repayments in Multiple of Rs.100 to loot offers😂

Multiples of 100 m hoga sab to errorless hoga 🤣

Mai toh bro 1 rs jayada hi kr deta hu

BC banks ka koi bharosa nhi

Idhar jara si galti or udhar Lau** lage

 

[Walter White]

TF pe aake ye saare hypothetical situations jo dimag me chal rhe hote hai inka live example milta hai.

 

[Pankhuri]

TF pe aake ye saare hypothetical situations jo dimag me chal rhe hote hai inka live example milta hai.

TIL ke credit free period payment miss pe band ho jaata hai.

 

[Harihhs]

As soon as default happens, Credit Free Period ends.

Is it the same case, Even if Minimum due is paid?

 

[Pankhuri]

Is it the same case, Even if Minimum due is paid?

Looks like it. @helloworld's previous comment showed screenshot from SBI statement explaining the same.

 

[Pankhuri]

So she should pay right away, considering that interest free period is over? So all these new and old charges would be incurring charges till due date if not paid earlier?

 

[Walter White]

So she should pay right away, considering that interest free period is over? So all these new and old charges would be incurring charges till due date if not paid earlier?

Pay it immediately. Risk nhi lena chahiye. SBI ke saath bilkul bhi nhi.

 

[imdjay]

That is why I always generate the Statement in Round figure and in Multiples of Rs.100 and Always Make Repayments in Multiple of Rs.100 to loot offers😂

Multiples of 100 m hoga sab to errorless hoga 🤣

S A M E

 

[AritraSaha]

My friend made some calculation error and ended up paying 80 rupees less than the due amount on her simplysave credit card. Today she received next statement and got 4.5k worth of finance charges. She contacted CC but they said that since the statement was generated on 20th, 24hrs haven't passed so they can't raise the request for reversal of these charges. She was advised to call tomorrow. So wanted to know what are RBI guidelines regarding such small payment dues? Her total bill was over 50k.

Credit will do more harm then good, if you're not paying in full.

Its the highest interest rate loan 50%, 4% per month.

As your friend have not paid the minimum amount, late fee + interest rate have kicked in..

As other have suggested pay the full, ask sbi to plz reverse the charges & not to report in cibil..

 

[Pankhuri]

As your friend have not paid the minimum amount, late fee + interest rate have kicked in..

She paid the minimum, she missed part of the payment, some 93 rupees.

Agree with your other comment that credit card is double edged sword.