Feb 16, 2012 12:45 PM
6634 Views
I would like to share my experience with the GE Card or so called SBI card available in the market.
I was fascinated with the SBI brand name as its the largest bank in Asia, probably in the world, if we consider the subsidiaries and associated companies. But later on came to know, GE is doing all the activities in the brand name of SBI by paying some brand usage money to SBI.
SBI Bank is no where associated with the SBI Credit Cards, whole and sole management is GE Capital Finance.
I got call from a Card sales agency for SBI Card in Aug 2007, even after saying NO, the people sent executives to collect payslips. I had given docs to the guys, and card was sent to my address.
Surprisingly, Statement showing annual charges was sent along with card as a seperate shipment.
I paid the annual charges, and started using the card.
During the global slowdown, I had lost my job, and I had an outstanding amount of 15K(Card limit was 17K)
I had contacted customer care and asked for some time, and requested them to close the card account.
But the Fools, kept on sending me statements with adding the interest on the same.
I had sent repeated emails to their mail id for taking actions and claiming for settlement and closure of the card.
for 2 yrs they just sent me statements by adding charges.
now on Oct 2010, they came up with 30K amount balance, and I should pay the same.
I had asked for statements as proof, but the manager started yelling at me and abused me.
I decided not to pay a single penny to SBI Card
On Oct 2011, some guy claiming himself as advocate called me to settle the card account, and he would send me court case documents. He convinced me, he would send me the case documents, and no suit would be filed. Settlement amount was 30K. I paid 20K and expected a closure letter, but the guys denied any letter, so I stopped their rest of payment.
Now, these stupids have reported my name in CIBIL with pending balance.
Guys, Please beware of the SBI cards,
RBI should take disciplinary action against this GE capital and CIBIL should also cross verify the case with the actual users before updating their records.
I had pleasant experience with HDFC, HSBC, Citibank, Standard Chartered, ICICI in terms of Credit Cards, they had actually kept their promises.
But SBI cards, Please beware, it's a trap.
