Help !!! What is the penalty if Hdfc credit car...

Help !!! What is the penalty if Hdfc credit card declines payment due to insufficient balance

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Deal Subedar
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Tried to purchase a phone on Flipkart.
Payment declined due to insufficient funds.
Will I be charged any penalty ?
Thanks in advance

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Deal Lieutenant
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No, u won’t be charged anything.

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Deal Subedar
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@abhinavshah wrote:

No, u won’t be charged anything.


Thanks for the info bro !
Kg

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Deal Colonel
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@stalwart wrote:


@abhinavshah wrote:

No, u won’t be charged anything.


Thanks for the info bro !
Kg

yes , no charge.

but Dont misuse it, like missed call.

SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),

they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7

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@stalwart You are only charged for “over credit limit” if the bank approves your transaction. Since the transaction was declined by them, there won’t be any penalty/fee.

Be careful to avoid such situations not only for the obvious negative impact to your CIBIL, but also because the penalty is quite high even if you exceed the limit by a mere 10-20 bucks. It’s usually 2.5% of the amount over the credit limit subject to a minimum charge of 500.

Kanz
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@Alpha.Barood wrote:

@stalwart wrote:


@abhinavshah wrote:

No, u won’t be charged anything.


Thanks for the info bro !
Kg

yes , no charge.

but Dont misuse it, like missed call.

SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),

they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7

I wonder how they track these all transactions and call each and every person whenever transaction is repeated or vbv is entered wrong.

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Deal Colonel
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@kanz wrote:

@Alpha.Barood wrote:

@stalwart wrote:


@abhinavshah wrote:

No, u won’t be charged anything.


Thanks for the info bro !
Kg

yes , no charge.

but Dont misuse it, like missed call.

SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),

they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7

I wonder how they track these all transactions and call each and every person whenever transaction is repeated or vbv is entered wrong.

They have 24*7 control room and robust technology, agents are alerted upon 3 faults , the transaction amount may be 100-200 rs., even in online page refreshing.

However, such errors are reduced after OTP system, moreover HDFC/SBI are sending transaction decline SMS immediately on first failure too.

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Deal Colonel
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@DealSeeker wrote:

@stalwart You are only charged for “over credit limit” if the bank approves your transaction. Since the transaction was declined by them, there won’t be any penalty/fee.

Be careful to avoid such situations not only for the obvious negative impact to your CIBIL, but also because the penalty is quite high even if you exceed the limit by a mere 10-20 bucks. It’s usually 2.5% of the amount over the credit limit subject to a minimum charge of 500.


Yes, its no excuse for over acceptance by bank.
( if bank is giving overdrawing without specific application even than higher penalties is on customer, merely using the card over the limit is treated as your application ).

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Deal Lieutenant
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@kanz wrote:

@Alpha.Barood wrote:

@stalwart wrote:


@abhinavshah wrote:

No, u won’t be charged anything.


Thanks for the info bro !
Kg

yes , no charge.

but Dont misuse it, like missed call.

SBI card used to call for 2 such call at 2-3am too. (esp if transaction amount is same or wrong VBV),

they can block (temp) the card under fraud prevention , if call is not attended 3 times, callback does not work on such nos., and they monitor 24*7

I wonder how they track these all transactions and call each and every person whenever transaction is repeated or vbv is entered wrong.

What do you think all they techies and support engineers in lakhs do everyday spending billions? wink

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