Do I have to pay annual fee and its late fee when I have not even started using my sbi credit card?
- 2213
- 37
-
- Last Comment
Do I have to pay annual fee and its late fee when I have not even started using my sbi credit card? 
Please tell if anyone faced such situation or with knowledge
- Sort By
I received card 15 days ago, since then talking to cc one level to other higher level to increase card limit
But today they deducted 499+gst while I was told that annual fee will be charged with first bill generation
Is it correct or they are forcing me to use the card with whatever limit I got, by deducting annual fee
My only concern is Rs 589 fee they deducted, I will not use this card if limit can’t be increased. i.e. I will close this.
SBI giving me only 50k limit while axis had already given me 2lakh limit on neon card. So rather I will apply for or upgrade to axis flipkart credit card than using sbi cc.
So is there anyway I could avoid this annual fee and close this sbi cc?
If you do not need the card, you can request them to reverse the fee and close it. They will do it. It is only applicable only if you haven’t used the card. If you have used the card already then they won’t reverse the fee. One of my friend was in same situation like you and he closed the card with fee reversal.
U need to pay it, if you don’t pay, you will charged interest, if still not paid recovery agent will call you, if still not paid, you will be reported to cibil and other credit bureaus. Interest will keep on increasing. One fine day a goon will land up on your door step saying you have to pay lakhs of INR to sbi, he will threaten you, call your friends and family, and tell you are a defaulter, force you to pay
So it is better you pay and get rid of the card if not needed. Your limit won’t be increased now, it is system generated based on credit profile
Have you faced this or Are you recovery agent 
Which card? Elite or Prime has joining fees, which they compensate with vouchers
Customers like these are just headache..
Mind your word,…………….. Sir!
At the time of application agent told me that I will get 2lakh limit. I was okay with 1lakh also but not with 50k
What @karanoshan mentioned is true to some extent, but if you choose to close this card without paying the fees they will screw your credit score at least.
I had similar experience with HDFC bank credit card years ago, agent said this is free credit card, but I was charged 2000 as joining fee. I complained but there was no response, so closed the credit card and paid the fees. It was a lesson to read fine print and ignore the agent.
How easy is closing an sbi card? Do they send you a no due certificate if requested?
Anyone who has closed their card can share their experience?
They don’t even try to retain if you call their cc & request to close the card. They’ll do it in seconds.
Keep using the card, you are going to get enhanced limit to 1-2lacs very soon.
SBI has been generous with me in limit enhancement when compared to others.
Once SBI limit increased other cards ICICI and HDFC too offered exact limit as on SBI.
So they do watch limits on other cards – and u have 2lacs limit on Axis – 99% chances for limit enhancement.
For the Rs500 fee any ways you get Amazon eGV of Rs500. So only Rs89 loss.
Use it on Amazon sale for friends and relatives to save more 2.5% points.
Never rely on words, ask agent to send email of their promises – but they will never send email – All agents are same be it Insurance, CC, Bank…
Thanks
Yes I have axis neon cc with 2 lakh limit. How do I convey them this, should I send photo of the limit proof of axis to their email and ask them to consider this?
The fees or renewal fees is for the card membership, and has nothing to do with usage of your card (except for waivers in some cases on crossing some min spend).. Even if you don’t use the card, this fee is charged, the bill will be generated and you are liable to pay. If not, interest will be charged after due date.
Joining fee?