HSBC Credit Cards
Charges for pending payment

Dear Sir/Ma'm,

I have been using a cerdit card from HSBC since last 7-8 years. For the first time in these 7-8 years, I made a partial payment for my credit card. I am surprised to see the charges levied by the bank. Following is the brief history of the events:

1) For the statement generated on 3-Apr-09, the outstanding balance on my name was Rs 10, 433/-. Payment due date was 24-Apr-09. I made the complete payment on 18-Apr-09.

2) For the next statement generated on 3-May-09, the outstanding balance on my name was Rs 13, 864/-. Payment due date was 25-May-09. I made a partial payment of Rs 8, 000/- on 23-May-09.

3) Remaining outstanding balance was Rs 5, 864/-. As per my understanding, charges for late payment of 1 month @ 3.30% pm should be: Rs 194/- only.

4) But they have levied Rs 877/- (excl. servicce charges), I can see following 2 transactions in my statement:

FINANCE CHARGES FOR LAST STATEMENT - 20001 - 1: Rs 401.33/-

FINANCE CHARGES FOR THIS STATEMENT - 20001 - 1: Rs 476.09/-

5) On request they have also sent the details of these finance charges, which I'm not able to understand. I my opinion, I should pay only Rs 194/- as financial charges (as mentioned at point 3) above)

Please help!

Regards,

Vikas

Company: HSBC Credit Cards
Country: India

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