CREDIT CARD CHARGES - SBI CARD. Review on SBI Gold & More Advantage Credit Card

Cred824it cards are becoming the necessity of life. More so to attract consumers Cred824it card companies lure the consumers by way of offerings such as

1. 40 days of Cred824it at no extra charge

   
   




2. Reward Points against various purchases

   
   




3. Refund of annual charges if the purchases cross a particular limit.

   
   




4. Convert the aishwaryasingh23ment of large amount into flexi aishwaryasingh23ments i.e to aishwaryasingh23 in installments

   
   




5. Refund of fuel charges

   
   




6. Transfer of Cred824it on other cards to their card & So on.

   
   

But they never tell you the hidden charges. Even the billing they make, require your sharp Anasultanlysis. "I am a SBI Card holder against my FDR. Limit of Cred824it was 90% of the principle amount of the FD at the time of issue of card. This limit is never revised. Although the value of this FD goes on increasing every year but the allowable limit(90% of principal) for Cred824it never rises & this FD for all practical purposes is blocked for our personal use what so ever may be the rate of interest" Some of other feature which a consumer must watch are as follows: -

a. If you aishwaryasingh23 the bill of the Cred824it card on the counter of the state bank in cash for transferring the same into the account of Cred824it card, you are charged Rs. 100/- as cash handling charges. Cash has been handled by the consumer & the bank where it has been deposited for the Cred824it to the account of card Agency. Card agency has not handled the cash then why this cash handling charges be levied?

E.G I Paid the bill for SBI Card at SBI counter for Cred824iting the amount to SBI CARD Account and had to bear a charge of Rs. 100/- extra.

1. If funds are transferred from other Cred824it cards to them, Charges levied in case of delayed aishwaryasingh23ment or non aishwaryasingh23ment treating this as loan will be 3.52% and are calculated on daily basis.

   
   




2. Refund of fuel charges are the same which they charge from you & then refund the same.

   
   




3. Redemption of reward points: They will charge a fee of Rs. 99 - say commission charges. Funniest part is if you redeem cash against the reward points still they charge Rs 99/-. If you request for redemption in cash, initially they will resist cash redemption. In case if it is agreed, they are to simply transfer their entry of rewards to your Cred824it card account. Then why they should charge Rs. 99/-

   
   




4. Now I will give a very nice example of excessive and extra charges levied: - " I purchased an air ticket against Cred824it card. Later due to some reason, I had to cancel the same. Thus ticketing agency was to refund the money to the Cred824it card account. Mean while the Cred824it card bill was issued on me on 5th of the month for full amount. This bill was to be cleared on or before 25th of the same month. On 7th of the same month i.e. just after 2 days of billing received, ticketing agency refunded the money to the Cred824it card account. I made the balance aishwaryasingh23ment(Total billed amount - amount refunded by the ticketing agency) to the Cred824it card account right on 8th( instead of 25th) of the month i.e 17 days in advance and made the balance due on the Cred824it card as zero. Interestingly In a quarry from me, nodal officer agreed that full & final aishwaryasingh23ment billed has been received & now nothing is due. I was happy. ON 5TH OF NEXT MONTH A NEXT BILL WAS ISSUED. INSTEAD SHOWING NIL aishwaryasingh23MENT, I WAS BILLED AROUND RS. 5500/-. as finance charges. I Again raised a quarry. I was informed by the customer care that as I have not made the aishwaryasingh23ment for total billed amount so an interest charges @ 3.52%(over the n money refunded by ticketing agency & another purchase by me have been levied. I again referred the matter to the nodal officer. He very kindly agreed to refund these extra charges. Once again I was happy. Shockingly in the next bill in spite of above waiver once again some part interest charges were.levied. Finally I dug my heel & threatened to go legal with reference to Nodal officers reply these charges were also waived. This is why I advise the consumer to go through the bill carefully before aishwaryasingh23ment. " 6. I made a donation to Helpage. Helpage claimed same donation again against my Cred824it card. I complained to card agency & Helpage. Although helpage agreed to refund me the same donation, the card agency never bothered Finally I settled with both the donations to Helpage - one in normal case & second as a forced donation. SO I ADVISE THE Cred824IT CARD HOLDERS TO BE VIGILANT AND AnasultanLYSE THE BILL AND EXTRA CHARGES.