[Resolved]  Kotak Bank Credit Card — Pathetic Service

Dear Sir,

My CRN No with the bank is : 15811422

I have a Credit card with the Bank issued to me in Dec08 with 60K odd Limit. Being an Avid user of Cards consumed more than 70% of limit in the first month. Higher Nos of Transactions were with IRCTC which got cancelled the same month had one 20K electronic purchase transaction converted to EMI and used BT of another 20K. Due to my frantic use they seem to have blocked my card without any information to me. Causing me to realise that it is blocked only when i am using it elsewhere and no SMS or anything.

I pay back whatever comes in my Statement by due dates(except in one of the cases where i delayed by 10 days). Now EMI thingy is pending and the bank is asking me to pay back complete money to unblock card. I am ready to do that but then they say that would involve me to pre close my emi thingy which would involve a charge of 4% and in any which ways i am not paying interest to them if they give me such a fantastic service. Where does this come from????????. Now if they think a guy who had consumed 75% has paid back 50% and his due is 0 balance is 15K (Roughly 25%) to be paid in 7 parts and he won't pay, then i think these guys are in wrong business.

I am riding three points here
1. Customer not informed for his card getting blocked, had it not been for other bank cards would have gone through a good level of embarassment normally carry less cash.
2. I[censored]nblocking is only done by zeroising then it better be without any charges. Blocked card holders should be allowed to close cards with no charges and no interests(I mean future interests specially for EMI cases). Now CIbil is showing i have higher lerels of levereging whereas it would have been well spread had this card not been blocked.
3. The customer support is even worse u need to tell them what had happened every time you call them. They have updated a wrong nos and won't take me as a verified guy and so not issue me a TPIN.

Request you to kindly take my plea of closing my account to the bank.

Thanking you in anticipation.

Thanks & Regards
Mukul Sharma