Feb 18, 2008 03:29 PM
4695 Views
Worse services, have target to make profit only through interest over the amount which already have paid? You can drop the check of payment any time before last date still they will recieve late and made interest and late payment on you.
I would like to share my Worse experience with you regarding TATA Credit card
In December I had received a call from SBI bank that they are offering a Credit Card to me based on my salary. I refused as I am already having Credit card of ICICI bank and I am quite satisfied with their services, but they have called me several times and told that they are having some attractive offers with it as my first electricity bill of Rs. 2000/- is absolutely free if I am paying my bill through your card, cash back on every purchase and payments of utility bills etc.
As these features are very attractive, and SBI is a very reputed nationalized Bank and SBI's ATM are there all over India even in remote areas also, I agreed to make it. But when I received the credit card, I was very surprised that this card is from TATA and not from SBI, second thing I didn't receive any benefit on electricity bill as Executive told me that it is compulsory benefit.
After some time again I received a call from Bank that on the basis of your Credit Card, we are offering you an interest free loan of Rs. 28000/- for a month. Again I refused, as I am getting a descent salary and that is enough to fulfill my needs. I also asked them the procedure to repay the loan, then they said it is very simple, you need not worry about it, you will receive a statement from bank with payment due date and I have to drop one cheque only to repay the loan.
As I was continuously getting calls from Bank, and they said it is free of interest charges and Bank will charges only Rs. 200/-, I have accepted the loan.
In January, I received a statement from Bank for repayment of loan and last date was 4th February 2008. I have time only on Saturdays and Sundays so I dropped cheque of respective amount in South Ex Branch on 2nd Feb 2008 after having a detailed search of Branch as Bank's executive told me that I can't drop the cheque in any ATM like in AIIMS - Ansari Nagar Branch that is very near to my place and most of the time I access that branch only.
Once I dropping the cheque I thought that my liability of loan is over. But it was not so as I noticed that same amount has not been debited from my account. Again I called up to customer care no, to confirm the status of payment on 7th February itself. The executive told me, that they didn't receive my cheque till date and asked me to cancel the cheque and to drop a new cheque. I was quite dissatisfied with the whole process as they didn't tell all this thing to me initially that repayment of loan is possible only in some specific Branches of SBI and cancellation of cheque means you have to pay fee for that. So I refused to cancellation of cheque.
Finally two days back, I received a new statement from Bank, in which they have charged for late payment as well as interest for late payment.
when I called up customer care, they told me that payment was due exactly after one month of receiving the loan amount and payment due date is irrespective of statement date and also they have received the cheque after due date, they are charging the interest for the same. Also when I asked that I didn't get any benefit on my electricity bill, they said it was to be selected by lucky draw and for every card holder.
I do have very bad experience with those people and I will suggest everybody not to go for Tata Card.
