Dear Sir,

I am a credit card account holder vide card No.5415382403442627 for the past two and half years. I have been regularly paying the due amount. My credit limit was fixed upto Rs.30, 000/- while issuing the credit card. Initially everything were gone smoothly, but later I am facing levy of extra charges on different heading namely over limit charge, late payment charge, interest and service tax etc., It was duly informed to you’re your bank by email on several occasions. In one occasion one of your executive threatened over phone while requesting the details of the levy of extra charges in the statement of accounts. I made a complaint to the Police Station as well as your Bank. Since you had given assurance to take action against the delinquent executive, I withdrew the complaint before the Police Station. Believing the words of the Bank, I withdrew the said complaint with good intention to continue the banking relationship with Bank. I further believed that I will not be targeted by taking revenge against me. But after the above said complaint, I am continuously harassed by way of levying the different charges against me on different headings. It is clearly reveals from the statement of accounts that the levying of different charges on different headings.
Since, I am very busy in my work I do not have time to verify the credit card statement. When I saw the monthly statement from February 2010 to November 2010, to my shock and surprise you have levied extra charges in different headings like over limit charge, late payment charge, interest charges and service charges. I am deeply disappointed with the charges levied by you without following the banking procedures. I have a grievance in my statement about the levy of different charges in my card. Hence, Kindly take the matter as serious one and look in to my credit card account from the statement dated 07.02.2010 to 07.11.2010.

In these circumstances the following monthly statements to show how I am facing the extra charges levied in my credit card account, though I did not avail anything from this card either purchase or withdrawal of money.

1. Statement Dated 07.02.2010

DATE DESCRIPTION AMOUNT
08.01.2010 OVERLIMIT FEE 600.00
01.02.2010 LATE FEE 650.00
07.02.2010 FINANCE CHARGE 1100.70
08.01.2010 FINANCE CHARGE 59.20
08.01.2010 SERVICE TAX 248.21


Total Charges levied in statement dated 07.02.2010 - Rs.2658.11
Amount paid on 07.02.2010 -Rs.2000.00
Hence without purchase anything the charges in card -Rs.2658.11


2. Statement Dated 07.03.2010

DATE DESCRIPTION AMOUNT
08.02.2010 OVERLIMIT FEE 600.00
07.03.2010 FINANCE CHARGE 1009.50
07.03.2010 FINANCE CHARGE 55.38
07.03.2010 SERVICE TAX 171.47

Total Charges levied in statement dated 07.03.2010 - Rs.1836.35
Amount paid on 01.03.2010 -Rs.2000.00
Hence the extra charges levied in card -Rs.1835.55
Purchased from this card on 07.02.2010 -Rs.294.00
3. Statement Dated 07.04.2010

DATE DESCRIPTION AMOUNT
08.03.2010 OVERLIMIT FEE 600.00
07.03.2010 FINANCE CHARGE 1106.09
07.03.2010 FINANCE CHARGE 61.48
07.03.2010 SERVICE TAX 182.05

Total Charges levied in statement dated 07.04.2010 - Rs.1949.62
Amount paid on 30.03.2010 -Rs.2500.00
Hence the extra charges levied in card -Rs.1949.62
Purchased from this card on 04.04.2010 -Rs.512.50

4. Statement Dated 07.05.2010

DATE DESCRIPTION AMOUNT
08.04.2010 OVERLIMIT FEE 600.00
07.05.2010 FINANCE CHARGE 979.49
07.05.2010 FINANCE CHARGE 56.65
07.03.2010 SERVICE TAX 168.51

Total Charges levied in statement dated 07.05.2010 - Rs.1817.15
Amount paid on 28.04.2010 -Rs.10000.00
Hence the extra charges levied in card -Rs. 1817.15

5. Statement Dated 07.06.2010- not received. Though I have not received the statement I paid the due amount based on the message to my mobile.
6. Statement Dated 07.07.2010

DATE DESCRIPTION AMOUNT
08.06.2010 OVERLIMIT FEE 600.00
02.07.2010 LATE FEE 650.00
07.07.2010 FINANCE CHARGE 921.59
07.07.2010 FINANCE CHARGE 69.58
07.07.2010 SERVICE TAX 261.73

Total Charges levied in statement dated 07.07.2010 - Rs.4, 041.17
Amount paid on 11.06.2010 -Rs.2, 500.00
Hence the extra charges levied in card -Rs. 2502.90

7. Statement Dated 07.08.2010- not received. Though I have not received the statement I paid the due amount based on the message to my mobile.

8. Statement Dated 07.09.2010

DATE DESCRIPTION AMOUNT
01.09.2010 LATE FEE 650.00
02.09.2010 OVERLIMIT FEE 600.00
07.09.2010 FINANCE CHARGE 949.27
07.09.2010 FINANCE CHARGE 77.53
07.09.2010 SERVICE TAX 234.50

Total Charges levied in statement dated 07.08.2010 - Rs. 2, 511.30
Amount paid on 07.09.2010 -Rs. 2, 500.00
Hence the extra charges levied -Rs. 2, 511.30

9. Statement Dated 07.10.2010

DATE DESCRIPTION AMOUNT
08.09.2010 OVERLIMIT FEE 600.00
02.10.2010 LATE FEE 650.00
07.09.2010 FINANCE CHARGE 932.37
07.09.2010 FINANCE CHARGE 75.02
07.09.2010 SERVICE TAX 232.50

Total Charges levied in statement dated 07.10.2010 - Rs. 2, 489.89
Amount paid on 06.10.2010 -Rs. 2, 500.00
Hence the extra charges levied -Rs. 2, 489.89

10 . Statement Dated 07.11.2010

DATE DESCRIPTION AMOUNT
01.11.2010 LATE FEE 650.00
02.11.2010 OVERLIMIT FEE 600.00
07.11.2010 FINANCE CHARGE 951.42
07.11.2010 FINANCE CHARGE 77.99
07.11.2010 SERVICE TAX 234.77

Total Charges levied in statement dated 07.05.2010 - Rs. 2, 314.18
Hence the extra charges levied -Rs. 2, 314.18

In the above four months statements it is well known to you, I have purchased Rs.294.00, Rs.512.20 and Rs.1500/-, which reflects in the statement dated 07.02.2010, 04.04.2010 and 07.07.2010 respectively.
From the above statement, I have disclosed the details that how the charges were levied in my card from statement dated 07.02.2010 to 07.11.2010. Since I don’t have the statement dated 07.06.2010 and 07.08.2010, but based on the previous statement it could be approximately Rs.2, 500/- each and hence Rs.5000/-could be charges for the above two months.

Hence, the above statements from 07.02.2010 to 07.11.2010 (i.e for the period of 10 months) the total charges levied in my card is Rs.22, 987/-, but I have paid Rs. 24, 000/(with out including the payment made in statement dated 07.06.2010 and 07.08.2010). Though I paid this much amount the outstanding still shown as 31, 213.45/-. It is also pertinent to note that the extra charges levied in my card on the heading of late fee and over limit fee, it’s comes about Rs.13750/-.
How the late fee was levied in my card is that the bill has been generated on every month 7th day, but the late fee was levied even the payment made on 7th day of the month( see statement dated 07.02.2010 and 07.09.2010). Sometimes without verify the account the late fee levied in my card mechanically( see statement dated 07.10.2010, the payment made on 06.10.2010, but late fee charges levied, which is reflected in the statement).

How the over limit charges have been levied in my card is that my original credit limit was Rs.32, 000/- and as usual the over limit charge of Rs 600/-levied in my card and hence I made a request to enhance my credit limit to avoid the over limit charges. In stead of enhance the credit limit, you have reduced my credit limit to Rs.28, 700/-(see statement dated 07.07.2010). The credit limit was reduced for the reason to levy the extra charges as over limit fee.

In the above statements the extra charges levied in my card is Rs.22987.50/-. In these statements you have used to levy the extra charges namely over limit charges, late payment fee, finance charge(retail) and finance charge(cash) etc and corresponding service taxes for the same.
Question: The finance charges (retail) are Rs.59.20, Rs.55.38, Rs. 61.48, Rs.56.65, Rs.69.58, Rs. 77.53, Rs. 75.02, and Rs.77.99 levied on 07.02.2010, 07.03.2010, 07.04.2010, 07.05.2010, 07.07.2010, 07.09.2010, 07.10.2010 and 07.11.2010 respectively. The above charges levied towards the interest for Rs.300/-. As per this finance charge the interest amount was paid more than the principal amount. Assuming you have charged these charges as interest towards principal, why can’t you deduct the same from the payment made by me?. For the last ten months I have paid Rs.22000/-.You would have given the debit the cash loan first. But in my statement without debit the cash loan you have debited only interest from the payment. In other words for the purpose of levy the different charges you have not given debit to cash loan.
Apart from this I have received the message from your bank stating that my credit limit is reduced as Rs.28000/-from Rs.32000/-. When I availed credit card the maximum credit limit was Rs.32000/-. Now you have reduced my credit limit without given any prior intimation.

All these ten months I have purchased Rs.294.00, Rs.512.20 and Rs.1500.00/- on 07.02.2010, 04.04.2010 and 07.07.2010 respectively. Whereas you have charged Rs.22, 987.50/-, but Rs.24, 000/-has been paid towards the credit card outstanding. These ten months statement placed before you as only example. You have to see the last two and half year how much amount I have paid so far without purchases anything.I could not bear these type of extra charges levied in my credit card.
Sir kindly consider the following points I have raised for your kind consideration.
1. The total extra charges levied is Rs.22, 987.50, assuming the admitted towards principal is taken in to consideration the extra charges levied in my card on the heading of late fee and over limit fee, it’s comes about Rs.13750/-, but the outstanding still shows as Rs.31, 213.45/-.
2. I have paid Rs. 24, 000/(with out including the payment made in statement dated 07.06.2010 and 07.08.2010). After the deducting the payment of Rs. 24, 000/-the balance would be Rs.7, 213/-. If the over limit fee and late fee of Rs. 13, 750 is adjusted, so far I have paid the extra amount of Rs. 6537/- in the card. As a multinational company it is not a great loss to your bank if you make the above arrangement of reverse the above extra charges, on the other hand I will be put irreparable loss and hardship.

Hence I kindly request you to refund the extra payment of Rs. 6537/- and close my account in card No.5415 3824 0344 2627 enable to start a new account for which I am grateful to you. If you want any clarifications, please arrange a meeting with your officials to explain my stand.
Thanking you, Yours sincerely,

M.RAJENDIRAN