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SBI Cards Reporting "Restructured Loan" on Closed Cards!

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Finance Mentor
Ramta_Jogi

OK, so this is new - SBI cards has all of a sudden started reporting 3 of my closed cards (with no dues confirmation received in email) as "Restructured Loans" in my recent CIBIL report leading to a fall of 63 points. All the cards were closed in 2016, 2017 and 2020. 

The outstanding are/were credit payments of (Minus) 17 paise, minus 91 paise and minus 0.01 paise.

Sent an email to customer care alongwith speed post to manager - card services, Gurgaon. Got no reply apart from Interaction ID.

Escalated to Nodal Officer via email and Speed Post - Expecting no reply or resolution. Would finally complain to Banking Ombudman in Mid Feb. Then keep waiting for 2 months. If need be, will approach courts. Totally unnecessary.

Keep a watch on your CB reports if you come across any such stuff.

On a side note - Refund from BSNL on 8 LL/BBand numbers stuck since 2021.

@guest_999

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Reg BSNL - I had surrendered my landline in Dec2019 and got the refund in Feb 2022 so guess 2023 will be your lucky year wrt BSNL refund provided they maintain 2yrs wait time even after covid 😄

Finance Mentor Finance Mentor
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Wow! More like 2023 end. Thanks 
Tech Guru Tech Guru
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@decideaim

Benevolent Benevolent
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aaj kl SBI card wale pagal ho gye hai.
@MrKool_JJ share bechne ka time aagya
Benevolent Benevolent
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Shubh shubh bolo....sale chalu hai....
Like Magnet Like Magnet
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With all these ongoing chain of events which has been happening in sbi cards, I badly wish that they face a steep downfall from here onwards.

I have already been telling people to stay away from sbi cards at all costs for last few months because of their pathetic support and redressal systems.

Deal Captain Deal Captain
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We hope they meet the fate they Subject their customers to

Tech Guru Tech Guru
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@EkdamSastaRaju

Critic Critic
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You won't get any proper reply below principal nodal officer level where you should receive a call from a person regarding the issue. I have been saying for a long time now that sbi card system(the machine based) is broken where one part of the system calculates 12 months period for achieving milestone spend differently from the other part of the system which calculates annual spends in 12 months period for annual fee waiver. Seems like some system bug/error produced a restructured loan results on these old cards which were then submitted automatically to cibil without any human intervention.

P.S. My statement for last month on one of my 2 sbi cards generated with total due amt Rs.2 & min due amt 0 whose due date I confused with my other sbi card as I used this sbi card for the first time in last 6-7 months & only remembered it yesterday. Paid that 2 rupees & will now see how much interest they will charge on it but sbi card didn't even send a single sms on due date when in the past they used to send a reminder at least one day before due date. It maybe because of zero min due amt which should mean no late payment charges & no reporting to cibil but still because its sbi card I am waiting for this month statement generation. I have decided to close the 2nd sbi card & depending on circumstances may close the other sbi card too & leave sbi card altogether as they don't seem to be worth the hassle.

Finance Mentor Finance Mentor
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I could only find their Manager & Nodal Officer contact (mailing address for letter) on their website. Have used site's escalation matrix for reaching out to the Nodal Officer too.

The Customer Service head and CEO's email is mentioned in one PDF document i found for grievance redressal online although not sure if they still work. Maybe these two are now accessible via Banking Ombudsman.
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Deal Subedar Deal Subedar
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RIP

SBI CARD

Helpful Helpful
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Har din koi na koi nayi nautanki dekhni parti hai SBICards walo ki

Entertainer Entertainer
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What was the axis bank link to check score? 

Even I got Cibil score change message but I didn’t bothered to check. I also closed SBI card few years back. 

Deal Cadet Deal Cadet
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Don't know about Axis bank link but I have been using Yes banks link ever since HDFC link stopped working. Here is Yes banks:
       Enroll - Create Account (cibil.com)
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Mobile Guru Mobile Guru
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Instead of Nodal officer/CS-Head, approach CIBIL / concerned credit bureau agency and raise a dispute. There's a proper mechanism for this (If even these disputes result in no solution, then RBI Ombudsman)

Raise a dispute >> CIBIL forwards the same to the exact department of the bank/cc issuers which handles these things >> Depending on the response from the bank, CIBIL corrects these errors. 

PS: Suspect this error got something to do with the recently introduced policies related to reward points/cashback during sale days (Credit lines usually get converted to restructured loans when the user fails to clear outstanding dues / requests the bank too do so). Many started seeing negative balance/RP in their closed (at least requested) SBI credit card accounts since past few weeks

Finance Mentor Finance Mentor
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Not able to log into CIBIL to raise a dispute. Error "0003" -Email Account already exists; but not identified in  the system. 

This infamous bug came about a few years back when Transunion upgraded their system/report generation from Cibil 1.0 to the present CiBIL 2.0

Sent email to CIBIL like 20 times n also called them up a lot of times but no resolution as of now.

If i try new email account, they say the credentials are already there in the system. Smh
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Helpful Helpful
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SBI won't show the paisa amount during bill payment if it is 500.20 it will show only ₹500 in total outstanding amount. I always add ₹1 to prevent this from happening

Generous Generous
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This is the real issue The system has bug, somehow it always show my outstanding as xxx.06 and bill is generated for only xxx, so that 6 paise is always left unbilled. I too always pay few rs extra to avoid any issue. 
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Deal Cadet Deal Cadet
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How do I check cibil report. Ot is only free once a year

Critic Critic
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If you don't care about data sharing & receiving sms/calls for credit card/loan offers then many apps offer free cibil score check once a month(onescore, wishfin, paytm, amazon, cred, freecharge etc) else you can just buy annual plan of cibil for 1200 & get real time & daily updates.
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Finance Mentor Finance Mentor
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You gotta read this reply @guest_999 @kukdookoo 

18/1/2023 

Dear XXXX, 

SBI CARD : We wish to inform you that your SBI cards are inactive for usage and as on date there are no dues payable to us. Meanwhile, we would request you to destroy the card(s) in your possession.

Kindly note that this NOC,s are not with regards to the charges incurred by you, on the abovementioned card, which have not been posted or reflected in your SBI Credit Card account due to various reasons such as ‘pending authorization’, ‘system or other errors. You shall accordingly, irrespective of this NOC, continue to be liable to pay such amounts that may accrue on your card.

I asked them again as to why am i liable to pay anything which accrues on my closed card account due to system or other errors and that too 3/5/7 years afterclosing the account? And then on one hand they confirm i got no outstanding dues as on Jan 18, 2023 & on other they are showing me defaulter under credit facility.

Got no reply as usual. Sad state of SBI cards.

Critic Critic
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wt<insert the letter you think> This comes pretty close to a reply I once got over phone from a supervisor(one level above typical customer care guy) where he basically told me not to trust sbi card pdf statement. You won't get any sensible reply below principal nodal officer level in sbi card for any issue that deviates even slightly from typical issues.
Finance Mentor Finance Mentor
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@Bk100 

I mailed banking ombudsman recently and I am constantly following it up with SBI nodal office. 

I first highlighted this issue in an email to customer care and the morons put up derogatory remarks of "Restructured Loans" against all these closed cards. 

My poor cibil score started bleeding from 794 in December to 709 in March. 

Finance Mentor Finance Mentor
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Sbi gone nuts. 90 point destruction of cibil score is terrible thing. They need to compensate you for mental torture. 

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