I have been using the kotak credit card since 2013. It was offered to me basing on the car loan with kotak prime.
Since my cibil is good they had offered a cash on card loan for rs195000for me on june 2016 with 12 emis along with a credit limit of 39000.. I have never defaulted any of my card payments since 2013 to 2016
But after demonetisation my small time food business got slow and i could not pay the last 11th and 12th emi from april 2017 i started paying partial amounts till july 2017 suddenly an whooping amount of rs 107000 was shown as outstanding but my actual usage was only around 60000.
I had to shell out around 38000 rs for an overdue amount of rs44000
Along with pending 2 emis which carries interest along with principal amounts
When i call customer care about the break up of charges they dont have an answer
On july 31st the collection people visited my place and offered a settlement. Considering the fact that it would effect my cibil i denied the offer went ahead paying in full as per the card statements paid up in full. Along with penal and interest charges
I was promised by mr. Vibin of collection agency that my card will get unblocked once the statement shows zero balance
But to my dismay they have not unblocked the card and also not issuing no dues certificate
Now i need ndc then only i can apply for new credit card to get approved
I have also submitted complaint with reserve bank ombudsman Was this information helpful? | 
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