aaaargh!

by Guest Sun Jul 10, 2011 5:15 am

*sunday afternoon*

my mobile rings. i notice it's an unknown delhi number.

- can i talk to mr. huzefa kapasi?
- yes
- is this mr. huzefa kapasi speaking?
- yes
- good afternoon sir!
- come to the point.
*click*

*ring*

- can i talk to mr.. huzefa kapasi
- if you call huzefa kapasi on his mobile, who else do you think is going to pick up? is this a land line??
*click*

*ring*

- can i talk to mr. huzefa kapasi?
- get to the point
- sir your monthly balance for sbi cards is showing unpaid. when are you making the payment?
- listen, you call me every month with the same question. every month your dues get paid regardless. i have no idea if the dues have been paid or are being paid. if you want details, here's my office number, please contact them. also, strike my number from your database and insert my office's number
- sir, can you tell the number and date of the cheque by which you have paid?
- &%$%$%$%$
*click*

by truthbetold Sun Jul 10, 2011 6:59 am

Calling customers to pay monthly dues seems to something new. Is this because of the change in consumer protection law enacted earlier this year? Why are credit card companies concerned about payments instead of collecting hefty late fees?

by Guest Sun Jul 10, 2011 8:23 am

actually they are only concerned with the "minimum payment" due which is about 10% of the dues. they don't care if you co not pay the rest. as long as you keep paying the minimum amount, they do not have to term your account a bad debt.

i am not sure if these calls started coming after the change in laws. but i've been getting them every month for the last 6 months and only from sbi. the other companies do not chase through calls or do not have my mobile number or have a defunct mobile number.

by truthbetold Sun Jul 10, 2011 9:30 am

I heard similar stories from my other acquaintances recently. Citibank and HSBC were the two names mentioned.

Yes. Minimum payment seems to be the major concern.

by Guest Sun Jul 10, 2011 9:43 am

uff, foreign banks are the most dangerous. they charge 30 to 50% penal interest rates and in case of default they chase you aggressively. i now have cards only of sbi, axis, hdfc etc. i used to have a standard chartered bank credit card and was horrified when i saw the interest they were charging me. i willfully defaulted (and ended up in a mess when the central credit rating agency's black listing me had an impact on some of my business loans and i had to get my name struck off from their list). the amount was not much (about 50k) but even today i get legal notices from standard chartered (actually now from the co. they sold the bad debt too).

in the early days i had a dena bank card. that was sweetest card i ever had. their statements used to come 9 months after the transaction -- no interest. then they lost interest in their credit card wing or sold/merged it.

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