Dear all,
I see that many people are being harassred by credit card companies. It is true that there may be some crooks who may be cheating credit card companies. But it is even more true that card companies are using many dirty tricks to collect money (by means of finance charges and exorbitant interest) from genuine people. I have been harassed by a card company for many years. I have decided that I will now fight against credit card companies and the whole system. I will work hard and long to make sure that the card companies pay for their wrong treatment of honest decent people.
As you may be knowing, about 30% of cases going to Banking Ombundsman (inside Reserve Bank of India) are against card companies. And i read that 90% of those cases are decided in favour of consumers (and against card companies). There is good hope that genuine people will be able to solve their problem and even get compensation. For example, pl see attached link. A mumbai doctor did not get statements and HSBC bank tried to charge him interest. He fought in consumer court for few months and got compensation. (http://lite.epaper.timesofindia.com/mobile.aspx? article=yes&pageid=3&edlabel=TOIM&mydateHid=20-06&pubname=&edname=&articleid=Ar00300&format=&publabel=TOI)
1) As a first step in my fight against bad ways of card companies, I will like to collect wide ranging data of complaints against card companies. SO I INVITE ALL TO SEND ME THEIR COMPLAINTS AT [email protected]. Kindly give full information in systematic way so that i can make good data base and also give good advice. Please dont give your full card number. Just bank name is enough. If you want to give card numbers then pl give only last four digits (many people are writing their full card numbers on internet postings. This is not desirable for them). Later we will make yahoogroups to exchange ideas and fighting strategies.
2) Second, i will like to give information and suggestions to people who need it.
3) i will make list of things to do and things to avoid and post here.
Some suggestions are;-
a) Please keep well organized and exact record of all dealings with your credit card bank (whether you have problem or not). Dealings includes phone conversations also. Pl note down phone number, name of person, time and date of call and content of discussion.
Please remember card companies may not have any respect for old relationship, unless you are a powerful person. You may think that you have a good relation and your limits are being increased, and you may feel happy and proud to have that card. But please remember they may not care for such things. They seem to have two faces (good face when signing the form, and bad face in case of any problem). Precaution is best.
b) Please avoid dealing with banks by phone. Best is email. If they will not handle complaint etc.by email, then try courier. In case of courier, pl make sure that your and bank's address and name is clearly written on the courier reciept or POD. Also in case of courier, please also send them a mail saying that you have sent courier with such and such content. Pl tell them to notify you in case they dont get it.
Please ask your courier company to give you acknowledgement.
c) if your complaint is not getting resolved quickly, then please search internet for that bank’s official Grievance Redressal System and start following it very meticuously. If they utter any half lie or clever misrepresentation of facts, please reply to them clearly and politely. They are very clever and experienced in their jobs. So, if necessary take help in framing your replies.
The usual Grievance Redressal Procedure of banks is first you write to their info address, then nodal officer and then top. It is advisable to follow this procedure because if your problem is not sorted, then you have right to go to Banking Ombundsman. As i mentioned, so far, 90% of card cases have been decided in favor of consumer by the Banking Ombundsman.
Alternatively you may directly go to a good lawyer and then to consumer court. (later i will make list of lawyers and credit counselling centers and post on yahoogroups or some such place).
d) if you are at fault, then please dont try to act smart and quickly settle and close the matter. The faster the better.
e) You may take help of counselling centers like Abhay Counselling Centre (http://www.bankofindia.com/abhay.aspx. It is run by Bank of India). Or you may write to financial advisor columns of newspapers (example, [email protected]. This is from Economic Times).
LET US ALL FIGHT THIS MENACE TOGHETHER.
Ram Bharose email [email protected] 26 june
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