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IndusInd Bank Limited - Credit Card Charges Complaint Rating:   

Posted: Sumati N on March, 14 2017 06:18 AM
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32.
My Question is 1. for usage of Rs22,610 ( 11937+548+10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal + interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal+Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. March 5th bill says: “The Total and Minimum Amounts Due on your Credit Card are 19261.74 DR and 9572.15 respectively, due by Immediate.”
Last month I have made payment of 4500+100 and this month 2000. Where as, indusindbank is asking for rs4500 every month which constitutes principal+interest. As said in first line, they divided the half of the usage amount into 3 installment .So every month, they are demanding 4500 to be paid to them. Don’t they know the difference between credit card and personal loan payment charges. I am using Axis & HDFC Credit card and regular payments are done, since 4 years and enjoying its benefits. But this Indusind bank creditcard, i kept it under test period and proved as worst credit card I have ever had. Within a month time , with only 3 transactions of Total Rs.22,610, I am getting unsolicited calls and reps are yelling in the phone for the principal amount. The total outstanding Rs.16000 should be subjected to Change of payment method . they are not responding my emails. I am requesting them that” I would like to pay interest for outstanding amount and principal would be paid on my convince. Indusind bank is not understanding and resolving customer issue. Please help me out.
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  |March, 14 2017 06:25 AM By Sumati N 0 votes
Sumati N Why people prefer creditcard is for the credit period and the benefits can be enjoyed by the card holder. even then the Interest on the total out standing can be levied according to the bank policy. however, the principal amount can be paid by the card holder to their convenient. because the card holder has not yet exhausted on the maximum credit limit of the card. indusindbank credit card is a pain. no reply my customer care.

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