SBI credit cards is charging Rs 1492.15 as finance charges on Rs 1000 outstanding for 11 days. Their customer support is extremely rude and refusing to give a proper reply.
This is reply they are giving
|RE:’CaseID=007-061-964′ Incorrect finance charge calculations|
29 Nov 2013
Thank you for writing to SBI Cards.
This is with reference to your communication dated Nov 25 2013 3:09PM.
At the outset, we regret for the inconvenience that may have been caused to you regarding the matter addressed to us.
Charges Related : We are unable to reverse the finance charges levied towards your credit card.
Finance Charges : We would like to inform you that in case the payments are missed or outstanding on the card is received less than the total amount due, then interest charges are applied on the balance amount, thus the payment starts revolving on the account, this is also applicable on all the fresh charges incurred, in the same month by the cardholder.
The finance charge will be levied at 3.35% per month plus government service tax @ as per applicable charges.
Please note that the finance charges will be calculated on opening balance as well as fresh purchases. This process continues till the complete outstanding on your card account is paid in full.
Incase of any query , would request you to reply at email@example.com using the same subject line or contact the SBI Card helpline at 39 02 02 02 or 1860 180 1290 ( if calling from MTNL and BSNL lines ) . IVR & Emergency Services on helpline are available 24 hours and Customer Service representatives are available from Monday to Saturday between 8am to 8pm.
If you are not satisfied with the response, you can write to VP, Customer Service at Nodalofficer@sbicard.com using the same subject line. You will receive a response within 3 working days.
Sathya Prakash – Customer Service