A reader of our Advisory Services Writes to us seeking our Expert Advise on the Following Matter where the Consumer holds a Cit Credit Card. His Grievance is as follows, [66900]
I had a Citi Bank Credit Card which I lost. Hence I requested for a for new credit card and bank dispatched the same as well but due to address issue, it was not delivered on my address. Hence bank cancelled my credit card as i didn’t receive it in 180 days from activation. Bank never informed me about this policy. After some time, i submitted address proof in the bank but they replied that they are unable to re-activate my credit card as 180 days are already past but they have informed me that i have to pay my rest of the 35 EMIs against this credit card. It means my credit card is still active in bank record but bank cannot send me a card. Now one more thing that they have also discontinued my online payment service against this card and asking for do the payment through NEFT. This is very bad service provided by the bank. Now the question if i have to pay pending 35EMIs for next 35 months then why shouldn’t I get my credit card. I have already informed them that i will not do the payment if you are unable to re-activate my card. Kindly revert back.
Regarding Cancellation of the Card, you ignored the matter for 180 days and in the mean time Bank put the account on HOLD based on their profiling of customers. Card issuing and usage is on a mutual agreement basis between Bank and the Customer, so you can’t do much about it.
Banks run Analytics on Customers’ Risk and Paying ability periodically and you are on their doubtful list which they are not candid about. Your EMI will be accounted as Loan on Credit Card in the Banks’ book of accounts, so just keep paying the EMI for 18 Months by NEFT or Cheque and then tell them that you are a responsible spender and user of Credit / Loan and they’ll probably be convinced to re-activate your account.
Credit from Bank is not your Right, it is their Right and You have to be responsible in using the same and they are under obligation to provide you good customer service. Failure or Arrogance towards not paying the same will compound your problem and your Credit Score will be badly affected.