[Resolved]  HSBC Credit Card — Finance charges levied abruptly

Dear Sir,

I am holding an HSBC credit card ending 8927. I have recieved July statement generated on 6th July for 10, 418.26 to be paid on 27th July. I have made a minimum due payment of 521 vide ICICI chequeno.170685 dt.25-07-09 which got realised on 29th July. The HSBC bank has levied a late payment fees of 400 plus service tax which i have requested to cancel it stating the cheque had been droped on 25th. Also the HSBC bank do not have a direct online payment mode. Late payment fees has been reversed.

Further to this i have made remaining amount payment of 9, 900 vide ICICI chequeno.170686 dated 01-08-09 which got realised on 4th August.

On 6th August the bank had generated the statement with finance charges levied on 10, 418.26 @ 3.30% permonth.

Finance charges are 336.36 plus 34.64 service tax for the last statement(period 06th June to 5th July) and 324.4 plus 33.41 service tax for this statement(period 06th July to 05th August).

Now i have a total of 726.07 to be paid by this 27th August.

I have contacted HSBC executives twice and they havent been able to give proper explanation. They just say the bank rules are applied.

I understand that there is finance charge if the payment is partial. But i dont think it should be levied on interest free period of first statement.

Can anyone guide me if there is grievance cell or RBi can address this issue?

Thanks,
Rajesh