What should I do if my card is lost or damaged?
Contact your Bank help centre immediately via phone banking .They will block your lost/damaged card instantly and a new card will be delivered to you within seven days.
Can I retain my credit card if I emigrate?
Credit cards (including global cards) are issued to resident Indians only. Therefore, under RBI guidelines, you have to clear your outstanding and surrender your credit card to the issuing bank if you are proceeding abroad on employment or on emigration
Can I use my credit card for expenses on the Internet?
Yes, your credit card can be used for expenses on the Internet. However, the Reserve Bank of India prohibits its use for certain expenses on its banned list like football pools, sweepstakes and lotteries.
What do I do if my credit card is declined?
Contact your Bank help centre immediately via phone banking
How do I protect my credit card against fraud or theft?
Do not forget the following :
1) Sign your card as soon as you receive it!
2)When you use your card at an ATM, enter your PIN in such a way that no one can memorize your keystrokes.
3)Don't leave your receipt behind at the ATM. Your PIN and account number from a discarded receipt could make you vulnerable to credit-card fraud. Also, don't throw out your credit-card statement, receipts or carbons without first shredding them!
4)Never give your credit-card number over the telephone unless you initiated the call.
5)Even when you place the call to a legitimate merchant, never give out your card number over a cordless phone. One common scam is when someone calls you "back" right after you place an order, claims to be from the merchant and tells you that there was a problem with your card number, so would you mind giving it to them again? The safest thing to do is to ask them to read out the number they have, and then change any incorrect numbers.
6)Ignore any credit-card offer that requires you to spend money upfront or fails to disclose the identity of the card issuer.
7)Make certain you get your card back after you make a purchase (one good habit to observe is to leave your wallet open in your hand until you have the card back). Also, make sure that you personally rip up any voided or cancelled charge slips.
8)Always keep a list of your credit cards, credit-card numbers and toll-free numbers handy, in case your card is stolen or lost.
9)Check your monthly statement to make certain all charges are your own, and notify the card issuer of any errors or unauthorized charges immediately.
What if I cross my credit limit?
If you make a transaction that exceeds your available credit limit, Bank will use its discretion and decide whether or not to approve the transaction. If the transaction is approved, an over-limit charge would be levied to the card account. The over-limit charge(Varying from bank to bank) will be charged of the amount by which the credit limit is exceeded (subject to a minimum charge ).
What is a temporary credit-limit enhancement?
There will be times when you feel the need for an increase in your credit limit to enable you to make increased purchases on your card.
What is a self-set limit?
You can pre-set the monthly spending limit on your supplementary/add-on credit card. Any transactions over the specified 'Spend Limit' will be declined.
What is the revolving credit facility?
When you receive your bill, you have the flexibility of selecting any of the following payment options:
Pay the total amount due.
Pay only the minimum amount due.
Pay any amount ranging from the minimum amount due to the total amount due.
Should you opt for either of the last two options, then the unpaid amount due is carried forward to the next billing period. This is referred to as the revolving credit facility
When do I start paying interest on new purchases if I am already revolving credit?
If you are revolving credit, fresh purchases attract interest from their respective dates of purchase.
What is the balance transfer facility?
Worried about the outstandings on your other-banks’ credit cards? Are the interest rates bothering you all the time?this is a special offer just for you, which would surely help you get rid of your worries on interest charges. The Bank balance transfer facility allows you to transfer your outstandings from your other-banks’ credit cards to your Bank Credit Card at interest rates as low as 0%. Various attractive schemes like the ‘0% Balance Transfer offer’ and the ‘Life Time Balance Transfer offer’, along with zero documentation and crisp draft delivery make the Bank Credit Card balance Transfer programme the best in the market.
Will fresh purchases also attract interest if I use the balance transfer facility?
Your fresh purchases get the normal credit period for the first month. However, if at the end of the first billing cycle, your total amount due (including balance transfer) is not reduced to zero, your fresh purchases attract interest from the respective dates of purchase.
Are there any interest charges?
If you make a payment for the Total Amount Due before the Payment Due Date, no interest charges are applicable. Thus you can enjoy interest-free credit from the date of purchase to the date on which the payment is due. This can be as high as 50 days for Silver Card members and 52 days for Gold/Titanium/Platinum/Signature Card members!
If you send a payment for the "Minimum Amount Due" or pay any amount less than the "Total Amount Due", interest charges are applied on the outstanding amount and on any fresh charges that you incur subsequently. However, for certain transactions like cash withdrawals, interest charges would be applicable from the date of transaction till date of payment.
If there are some unpaid "Minimum Amounts Due" of previous statements, then these will also be added on to the "Minimum Amount Due" of your current statement.
If you have for some reason exceeded your credit limit, then the amount by which you have exceeded the credit limit will also be added to the "Minimum Amount Due".
When will the interest charge stop?
If all outstanding charges are paid at any time, the interest charges will cease to apply immediately.
How are interest rates calculated on an Bank Credit Card?
Interest charges are applicable only if the cardholder chooses the part payment facility (revolver facility). It is governed by a rate of interest. The interest accrual is on the daily outstanding balance. The monthly application of interest happens on the statement date.
An example of calculation of interest, where the customer has made all retail transactions and no cash withdrawals:
As the customer has made a part payment, interest is charged on transactions of the previous month from the respective transaction date up to the statement date; then on the TAD (total amount due) from the statement date up to the part payment date; and then on the balance amount (after deducting part payment made from TAD) from the part payment date up to the next statement date.
Finally, if there are any fresh purchases interest is charged on them from the respective transaction date up to the statement date.
If the customer makes a part payment he does not enjoy interest-free days on fresh purchases.
How do I pay my credit-card bill?
1)Drop your payment cheques in the 'drop box' facility at any Bank branches and ATM centres.
2)Cash payments are accepted at Bank branches during banking hours.
3)auto-debit facility.
4)Bank account holders can also avail of the convenience of scheduling payments through Bank Internet Banking or pay their credit-card bills through customer care centre.
5)If you are not an Bank account holder, you can still pay from your existing bank account via the Internet.
What is the auto-debit facility?
Auto-debit allows Bank account holders to give standing instructions to pay their credit card bills (either minimum amount or total amount due) directly through their bank account. Simply give a written instruction to Bank, or inform Bank’s customer care centre to debit the payment directly to your account every month.
What happens if my cheque gets delayed in the post beyond the payment due date?
If your payment is not received by the Payment Due Date, a late fee is applicable and the outstanding amount attracts interest for the number of days by which the payment has been delayed.
What happens if I pay more than the total amount due?
TThe excess amount shows up in your monthly statement and is adjusted against future purchases.
What happens in the case of a disputed card transaction?
In the case of a disputed card transaction, Bank will get back to you at the earliest with the status of your transaction.